Can someone please explain how the coin recycler actually works? Basically are the devs making their own market? How competitive are the exchange rates offered?
vir6's explanation was great. The most simple answer is that CoinRecycler operates via exchanges at the moment, so the rates are what you would get there - without the hassle of trading to BTC then buying MAST. As we continue development on it, more exchanges will be added and eventually we will be making our own markets, as volume grows.