What should have happened is keep credit and DEC one of the same. When selling cards, you get the same currency.
The pegging should be done by the company in open market, actually buy back DEC when DEC is below peg.
What ended up happening is Splinterlands only sell DEC when over peg and never buy anything. Meanwhile when players sell cards they get DEC at market value of dollar equivalent thus creating downward spiral when the DEC price gets too low.
Now all the DEC created at twice the pegged amount, it will be increasingly difficult to even bring it back to peg as more cards are sold with credit to the company and creating more DEC for the players.
Splinterlands failed in this aspect, creating a 3rd currency as burn is just slowing down the spiral and not stopping it.
It is counting on the bull market to return when new players prop up the demand, and give them the power to print money as DEC goes above peg. That will be a bigger bubble for the next bear market if the peg is not controlled with the underlying currency which is USD.
Or lands may either make it even more expensive to be competitive in the game, and discourage new players, which will not be healthy and sustainable. It’s a fine line.
RE: Why I Voted No For Proposal DEC-B