Maker DAO has now given up on pegging on the USD, deeming it impossible.
“Another thing is that we’ve already given up on maintaining a 1:1 peg with any asset, as it’s not really possible unless the assets are fungible (or you use yield which is just a trick with numbers)- instead we target stable deflation with the SDR as the starting point. So it’s like a inflation targeting fiat currency but where we target slow and steady deflation, which we call deflationary yield (which takes over the role that explicit yield has in 0.2 of the DCS). Without a 1:1 peg the biggest advantage of using USD, it’s familiarity, disappears anyway - an example of this is bitUSD, the bitshares USD asset which trades above parity because it enforces full liquidity at 1 USD.”
Source: https://www.reddit.com/r/Stablit/comments/3vucv8/introducing_edollar_the_ultimate_stablecoin_built/cxrhlnc
