I love the concept of this coin. Seems more grounded and tied to the needs of retailers with the USD pegging. However, the mechanism remains a mystery to me. Can you share how it works? My confusion lies in the fact that TOKES themselves will have an ever changing market value (hopefully rising all the time
), but pegging requires a static value. Without a second TOKEusd token, do you lock the retailers TOKES or fiat into something like WavesUSD, and when they want their money again, switch it back into TOKES at the current rate or back into fiat?
Exactly right gbdesai. We're going to be working closely with the Waves Platform and development team to implement the peg, but it will
most likely be a secondary unit. The burden will be on us to communicate that mechanism with our retail partners, but we intend to undertake extensive community education efforts to assist with adoption.