No peg. No asset backing. Just a dual coin blockchain.
Price-stability of the XUSD stablecoin is achieved without an unsustainable peg or asset backing. Instead it is achieved with an algorithmic dual coin blockchain. Third party trust from banks or centralized entities is therefore unnecessary.
Each Haven Dollar is convertible into $1 worth of XHV.
Haven Dollar: XUSD is price-stable like a US Dollar. XHV: Haven fluctuates in price (volatile) like Bitcoin.
Users can convert each Haven Dollar (XUSD) into $1 worth of XHV and vice versa within a Haven wallet at anytime. A cryptographically unknown but fluctuating supply of both coins allows the burning (destruction) of one coin and the minting (creation) of the equivalent amount of the other coin (e.g. 50 XUSD <–> $50 worth of XHV).