Nope, that kind of ICO won't make me even click on their website
First, to "peg" something you must trust centralized party to really store USD inside their vault, and 99% of the time they will stole it (empty vault).
Second (related to point before), cryptocurrency was built so that we don't need to trust any 3rd party for transaction. Why on earth we still wanna peg crypto into fiat and trust 3rd party again..
This exactly and that's why I never believed in tether. Very counterintuitive. The Havven platform uses two tokens to achieve stability. The havven token provides the collateral for the platform. Nomin tokens, a stablecoin, are issued against the value of the collateral token. This dual token approach incentivises users to hold havven tokens because network transaction fees are paid to havven holders. As more people use nomins for everyday transactions, the value of havven tokens will increase due to the higher fees generated.
Havven is a totally decentralised stablecoin, which means that, like bitcoin, it is secure and resistant to censorship. However, in contrast to Bitcoin, Havven uses a decentralised asset to reduce price volatility. The asset backing for the stablecoin comes from transaction fees generated by the Havven network. This means the asset is distributed and cannot be lost, stolen or seized.
