We recently discussed stablecoins as a cryptoeconomic primitive that may prove the key to cryptocurrency adoption. Stablecoins, by definition, are aimed at being as stable as possible. This is usually achieved by pegging the value to a fiat asset, such as the US Dollar.
The cryptocurrency exchange BitBay adds to the stablecoin offering by introducing their own pegged coin. In contrast to other attempts at stablecoins, BitBay promises to return power over coin value to the user.