After careful consideration, the team decided to take the following two measures.
- Suspend the Buyback function until a better solution is found. The dividend function will continue to be open, but with the insufficient fee income, the frequency of transfer to the dividend pool will be reduced.
- Burn team’s allocation. These tokens are currently locked in smart contracts. When unlocked, they will be burned.
About Pegs Cash v2
The existing algorithmic stablecoin models are encountering some difficulties. We are still doing more exploration and will upgrade to v2 when appropriate. If there is a better idea for the design of algorithmic stablecoins, welcome to leave us a message: official@pegs.cash.
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