The idea of phasing in the reverse conversion (say starting at $5 and then gradually steeping down to $1) is a reasonable one but adds more complexity to the code that would only ever be used once. That is likely not a good tradeoff. But maybe it is worthwhile if it is the only way to help bring consensus to the idea. Thanks for the suggestion.

My personal preference FWIW is to simply wait until SBD comes down closer to $1, which will probably happen in due course, and then implement the improved pegging feature. This comes at a cost in that stable coins are a rapidly growing market and if we don't fix ours soon we may miss out on a big opportunity. At a minimum I think we ought to prepare by getting the code ready and them perhaps not actually deploy it until the SBD price is already closer to $1 on its own.