Steem Dollars are working very well, it just takes the market some time to grow up around it. Like a toddler getting its balanced. The market learns from experience more than intelligence. In recent days steem dollar volume has been increasing and it has been trading at 96 to 97% of the dollar. About a credit card processing fee. It will only get better.
We saw the same thing with bitUSD - the peg is very dependent on liquidity. I'm personally amazed at how well the peg is working given how new the asset is. With everything the devs learned working on bitAssets I'm 100% confident the SD peg is only going to get tighter.
Steem Dollars are working very well, it just takes the market some time to grow up around it. Like a toddler getting its balanced. The market learns from experience more than intelligence. In recent days steem dollar volume has been increasing and it has been trading at 96 to 97% of the dollar. About a credit card processing fee. It will only get better.
We saw the same thing with bitUSD - the peg is very dependent on liquidity. I'm personally amazed at how well the peg is working given how new the asset is. With everything the devs learned working on bitAssets I'm 100% confident the SD peg is only going to get tighter.