Why do you all think that the price is pegged to $20? In the whitepaper there is nothing said about MNX being pegged to $20 price. It just says that the algorithm starts its work from $20 price range.
Nobody mentioned anything about the whitepaper. I'm well aware of $20 originally being stated as the price at which they were going to activate their volatility controls. I've posted about it plenty, myself.
Apparently you haven't been keeping up with the forum here. Here's why we
know the price is pegged at $20:
Hello!
Now everything controls by the market, demand and supply. The algorithm of MinexBank hasn't launched for full.
We declared that price will be establised around 20$( average rate through the basket of the top 10 cryptocurrencies).
That's why there are no reasons to worry about the price.
Here is MINEXBANK MEMORANDUM:
https://minexbank.com/memorandumEmphasis put on their declaration of price established at $20, as well as context at the end; price was just under $20 (bouncing between $17-19 at the time), hence 'no reasons to worry about the price' in regards to volatility control (that's not fully established).
So, unless this is just a case of bad English, then we have been told that the pegged price is, indeed, the $20 from which their annual growth & volatility control will stem (as stated in the
Memorandum).
Totally agree with everything said except that until March we should see 20 usd + around 50% annual growth = 30 usd where this annual growth will increase a lot after March. Isnt it?