I am genuinely curious as the the reasons for pegging Nubits to the US dollar. Why not the British pound, that was the world’s reserve currency 100 years ago?
Sure, right now, the USD is the world’s reserve currency, however the US is actively trying to devalue the dollar to ensure it’s exports are competitive.
Why would you peg your currency that the world’s superpower stated goal is to devalue?
Is fixing an exchange rate the only way to stabilise the value of a currency? Why not fix it to a basket of currencies and manage the weightings in the basket? Or a basket of currencies and commodities? Then it would behave more like an index than another pegged currency.
Looking for honest exchange.