I'm noticing that volume and liquidity on steem-engine are causing challenges right now. There is a significant gap in the Steem/BTCP market and very little buying/selling happening.
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Yeah most of the pegged coins seem to have very little exchange going on right now, I'm guessing that will change during the next bull market. Could be wrong, but if Steem-engine gets approved for buying steem with fiat, could be an easy way to buy those pegged tokens as well which should increase the volume of trading.
Could be wrong, but if Steem-engine gets approved for buying steem with fiat
Who do they need approval from?
Judging from their size, I doubt that they would have the liquidity to run a fiat exchange. I would like to see them move from pegged alternatives to the actual tokens first. BTC vs BTCP, STEEM vs STEEMP, etc.
I'm sure there's a technical reason they need pegged versions of the tokens, but I can't think of a good one at the moment.
They need approval to be a money handler or something as such.
I'm assuming 1 reason might be security, but not sure why a "pegged" version would be more secure.
2 reason I would think would be from the programming side a pegged version is easier as you can set-up one address where everything is deposited into and withdrawn from, but once again not a programmer so no idea.