BitUSD, the dollar-pegged asset with an algorithmic approach to settling, entered a “global settlement” event a few days ago and is yet to return to the $1 level. BitUSD is ensuring liquidity on the BitShares Asset Exchange, as well as on the Open Ledger DEX.

This project is unique in that the dollar-pegged coins are created through borrowing, the collateral being BitShares, a special asset based on a delegated proof-of-stake network similar to EOS. BitShares is a relatively old project created by Dan Larimer before he moved on to Steemit and EOS.

BitCNY, the asset pegged to the Chinese yuan, has not seen a similar price change. BitUSD, however, can no longer be created with BitShares used as collateral.

BitUSD has almost no ef…

This article appeared first on Cryptovest

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