ok but how they will get MenaCash in the first place? If everyone will use it, ok, you won't need fiat anymore because there will be MenaCash only but do you think that the reality is like that?
I think the idea is to be like USDT, so users can exchange their tokens and coins for MenaCash to ... reduce their exposure to crypto asset volatility I suppose.
It seems they will back that pegged coin with the amount you spend to purchase.
Like 100 person give them 100.000$ total for 100.000 menacash and circulating supply is 100.000 token backing up with 100.000$. When you cash out like 20.000 of it, and the outcome is 80.000$ in the bank and 80.000 token circulating.