[throwaway4good]

"now peg is being restored naturally via the market module"

:-D

Notice that all algorithmic stable coins essentially work the same way - the coin is issued against another coin acting as collateral. A fall in the value of the collateral will cause forced selling to buy back the stable coin.

They do also work the other way; pumping the value of the collateral as the stable coin can be used to bid up the collateral.

Creating an inherently unstable system that don't really need a conspiracy theory to explain why it will eventually collapse.