I haven't read zeph's docs but from the looks of it i can tell that zeph is following haven or xhv (the web wallets, stable coin, other logics exactly like xhv). xhv had 2 big problems.
an algorithmic stable dollar that always lost it's peg and were traded at 0.9-0.8$ instead of being 1:1.
people n whales kept converting xhv xsd(or whatever it was called) back and forth so many times that the coin supply multiplied way faster than it was meant to be minted by miners. in a couple of weeks it tripled in xhv supply.
i hope zeph solved these issues but unfortunately I think it's dying . actually once you convert your coin into stable coin you should never be able to convert back to zeph. i think zeph's stable usd has also lost it's peg and its 0.95:1 instead of 1:1 i checked the other day. Monero is doing pretty good as a privacy coin. like some old man with 2 mild heart attacks. half of the body numb. but still going.
zeph is different. its doing same things as 2 dead coins did. algorithmic stable coin. they always lose peg and die. also their supply becomes infinite before dying.