I have the impression that they are being deliberately secretive as to how exactly the price of the Ven is determined. At least I couldn't find a satisfactory explanation of the mechanics anywhere on the site.

Is the price fixed by the central authority (Gekko Global Markets - deliberately ironic choice of name?)  using a basket of commodities?

Or is the price allowed to float freely?

Seems to be both, or a combination of the two.  In any case this currency is far too centralised and far too closed for my taste.

But I really liked their idea of pavillions.   Would be a great way to promote bitcoin and to allow people to trade face-to-face.