In theory they are supposed to be pegged to $1. In theory they offer a place to hide out in times of volatility as well as offer a stable currency that can be used by businesses without ever having to leave the steem ecosystem. In reality, they need to be better pegged.
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Yeah it's broke, at 50 cents and dropping fast! I think it will keep going to a penny, why not? Steem will go to 50 cents, they should swap places! lol
Yikes. I had not seen the most recent drop to $.50. What's causing the drop?