Originally posted on 12/07/2018:

There are quite a few stablecoins like this one, it's been a popular trend this year for crypto. There are different varieties, each with their own pros and cons...but stablecoins as a whole have some underlying issues which have proven very difficult to solve. Each one has to make trade-offs somewhere, and you should know all of the limitations if you plan on using one. Not sure if it's this one specifically, but one important thing to note is that some only allow for a conversion of about 60% of the usd value.

One other thing to note, with many of these stablecoins competing - there are bound to be collapses, outright failures, and such. They certainly can be a useful tool in some situations, but probably not a good idea to become too dependent on them or to treat them as a long-term store of value.