Ah, that makes sense, thank you for your thorough explanation! I suppose I was imagining a pump and dump scenario for this timing, though having 3.5 days warning for monitoring the conversion requests should be ample time to react or make it difficult.

I should check out the design of other stable coin designs to see if one is mature enough. I would be worried though still. I would assume the way the others work is by having enough liquidity to use the market to push the price, not by changing the role of the stable coin token. The role it plays as a debt instrument is the part that makes me hesitant. Maybe the fee is enough to cover, but somehow I don't think that will cover larger long term concerns about price movement.