My brain has been beaming with emotion since I found about you guys. Perhaps that's why I have this dumb question ...
Currently, is $1.05, at one point it was $1.36. Since its launch, it has mostly been above-peg. Why is that? Is there an issue with the protocol or this is by design?
The backers on this project are the who's who of Crypto investors. But the rank is still lowish – maybe the market cap data isn't there yet.
This is a stablecoin that is designed to keep its purchasing power not its peg, so in a sense, it is a better-dollar. Albeit, I am myself confused, because at the moment they are meant to be in a peg-maintaining phase, to distribute the coin more broadly. Perhaps, the excessive money printing during COVID-19 has caused it to appreciate, but I am not sure.