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The mechanisms behind Steem Dollar are way different. Steem uses a price feed (from the witnesses) that levels over time and gives a "settlement price" for Steem Dollar into Steem. The settlement price is assumed to be "fair" even though it is (moving window) averaged over a couple of days.

What you are probably referring to are the incentives for liquidity providers to trade at the peg as they get paid to do so. However, they don't hold the peg, the merely trade around it.

I was also referring not only to the use of subsidized market makers for real time liquidity, but also the use of a variable interest rate to influence investor demand. I agree the supply mechanism is completely different, and SD has less risk of being overleveraged, but the risk of collapse is still there and the white paper acknowledges it.

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