Market demand trumped price controls. What a surprise. But that demand bubble is tapering off rapidly. I do like the volatility mitigation concept even if it doesn't entirely work as planned.
The pegging mechanism should work in different situations, including the one we are in now. Of course nothing can guarantee a perfect peg but if the price is seriously off for more than 24 hours, the system is broken.
because we didn't had any mechanism for pushing price down. We just need to add what timcliff proposed, and thats it.
Market demand trumped price controls. What a surprise. But that demand bubble is tapering off rapidly. I do like the volatility mitigation concept even if it doesn't entirely work as planned.
The pegging mechanism should work in different situations, including the one we are in now. Of course nothing can guarantee a perfect peg but if the price is seriously off for more than 24 hours, the system is broken.