Article: https://letstalkbitcoin.com/blog/post/which-altcoins-and-why
NuBits is the most fascinating altcoin of the bunch. It is two coins (NuBits and NuShares) and a decentralized process designed to peg the value to roughly $1.00 US. If the price is too low, then through a process not unlike the Federal Reserve,NuBits are ‘mopped-up’ by paying interest to those willing to lockup their NuBits. Or, conversely, if the price is too high, the supply is expanded by selling new NuBits into the market with the value distributed to holders of NuShares in the form of Peercoin. These market forces keep the NuBits coin trading in a narrow band. It sounds complicated, and it is, but it is working (at least at the time of writing). Currently, some human intervention is required, and through voting, trusted custodians are elected to perform these duties.
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