Umm, elements? Better just say non-free and that's all you need for a stablecoin. Take for instance, Tether. The folks behind it can mint as much as they want, censor transactions etc. What makes it stablecoin? Definitely not the volume you speak of. Just like how a government supposedly protects the national currency's stability, same can individuals do if they have such power upon their own currency.
In this way, the number of coins is not arbitrarily fixed but is based on a number outside the control of the issuer of the coin.
Tether minted around one billion USDT (IIRC), but the economy and the exchange rate remained the same. Do you notice the illegitimacy behind this kind of business? It works more as an IOU rather strong cash even if it looks like cash. The issuer can do whatever they wish.
I get your point, but what if it is auditable by third parties?
Imagine a PWC or a Deloitte issuing an audit every year in which the number of coins = the published basis of the calculation.
But coming back to my original question, technically speaking, what sort of crypto framework could suit best this use case?
Thanks!
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