Alias leaned back in his chair, his eyes scanning the sharp lines of his own handwriting. Saylor’s 21 rules had served as an ideological framework for Bitcoin’s followers, a doctrine that had slowly transformed Bitcoin from an open system into a fortress of dogma. He could see how it had happened. Belief required certainty. But certainty had led to rigidity. And rigidity had led to ossification, and ultimately to capture.
That could not happen to Pegged.
Alias lit his pipe. Twenty-one rules were too many.
Bitcoin had needed doctrine—a mythology to bind its followers. Pegged needed only a function.
He flipped the page, stared at the blank space, and cut the list down to its essence.
The Core Principles of Pegged
1. Pegged is final.
→ No reversals. No corrections. No appeals. Irrevocability is not a feature—it is the foundation.
2. Pegged does not ask for trust.
→ Trust is a human weakness. Pegged replaces trust with execution.
3. $PEG is not an investment. It is a tool.
→ You do not hold $PEG. You use it to transact or to participate in perpetual lotteries.
4. Pegged does not seek adoption. It seeks usage.
→ No evangelism. No ideology. Pegged exists because it works, not because people believe in it.
5. Pegged does not fight the system. It ignores it.
→ Pegged is not a protest. It does not compete with TradFi or ask permission to exist.
Alias paused: "Five features. Five was enough."
Bitcoin had become a philosophy, something for people to debate, defend, and die on hills for.
Pegged would be different. It would not argue. It would not beg for legitimacy. It would simply function.
Alias stared at the five rules he had distilled from the bloated list and knew they had to apply to every aspect of the Pegged system. The lotteries, the stablecoin ($PEG), and the DAO (PegDAO)—all had to follow the same fundamental logic. He began outlining how each of these core principles would manifest in the system’s three pillars.
1. Pegged is final.
→ No reversals. No corrections. No appeals. Irrevocability is not a feature—it is the foundation.
• Lotteries:
→ Once a lottery cycle starts, it cannot be undone. No one—neither an operator nor a participant—can alter the draw, refund a ticket, or modify the outcome. If you place a bet, it stays placed. Winners are paid automatically.
• Stablecoin ($PEG):
→ Every transaction using $PEG is absolute. There is no central entity to reverse a transfer, freeze an account, or seize funds. Losses are losses, winnings are winnings—no custody, no bailouts, no second chances.
• DAO (PegDAO):
→ The DAO can adjust parameters, but it cannot undo past decisions. Smart contracts governing PegDAO are immutable—votes on governance changes apply only to future mechanisms, not to past transactions.
2. Pegged does not ask for trust.
→ Trust is a human weakness. Pegged replaces trust with execution.
• Lotteries:
→ No one has to "trust" an entity to hold or pay out winnings. The smart contract determines the payout automatically. No human, no organization, no regulator can interfere.
• Stablecoin ($PEG):
→ Pegged’s value stabilization mechanism operates autonomously. There is no need to trust a reserve, a central bank, or a custodian. The algorithm and liquidity mechanism regulate the system based on transaction volume and lottery dynamics.
• DAO (PegDAO):
→ No “leaders,” no human moderators. Votes are binding and executed without discretion. The DAO is not a debate club—it’s an execution machine.
3. Pegged is not an investment. It is a tool.
→ You do not hold Pegged. You use it. No speculation. No hoarding. No games.
• Lotteries:
→ The lotteries are not a speculative instrument—they are a means of stablecoin liquidity generation. Winning is an incentive, but the system is not a get-rich-quick scheme. It’s a stabilizer.
• Stablecoin ($PEG):
→ $PEG is not for speculation. It is not a store of value like Bitcoin. It’s a transactable unit—meant to be used in commerce, not hoarded like digital gold.
• DAO (PegDAO):
→ Governance does not revolve around profit. PegDAO’s function is to maintain the system’s autonomy—not to serve token holders looking for financial gain. There is no “buy-and-hold” mentality—decisions are about functionality, not returns.
4. Pegged does not seek adoption. It seeks usage.
→ No evangelism. No ideology. Pegged exists because it works, not because people believe in it.
• Lotteries:
→ No marketing, no hype. If people want low-cost, transparent lotteries with guaranteed payouts, they will use Pegged’s lottery mechanisms. The system does not need to persuade anyone—it will attract users who need it.
• Stablecoin ($PEG):
→ $PEG’s adoption is not forced. It doesn’t rely on speculative interest—it integrates organically into commerce because it provides real utility. Merchants will use it because it removes inefficiencies.
• DAO (PegDAO):
→ PegDAO does not campaign for governance participation. It doesn’t care if people don’t vote. It is not a political experiment—it is an administrative framework designed to keep Pegged operational.
5. Pegged does not fight the system. It ignores it.
→ Pegged is not a protest. It does not compete with TradFi or ask permission to exist.
• Lotteries:
→ Pegged’s lotteries do not challenge regulated lotteries directly; they operate outside traditional gambling licenses. No lobbying, no legal battles—they simply exist.
• Stablecoin ($PEG):
→ $PEG is pegged to fiat, but it does not require banking rails. Governments can regulate exchanges, but they cannot stop its circulation within its own ecosystem.
• DAO (PegDAO):
→ The DAO is not a “new financial democracy.” It is an execution layer, not a political movement. It exists regardless of what governments or institutions think about it.
Alias put the pen down and whispered: “Pegged is an application, just like Bitcoin had been at inception, but incorporating lessons learned. It would simply function.”
