According to the project team, BitBay is the world’s first peer-to-peer, decentralized contracting platform. Since 2014, everything from household items to real estate have been bought and sold using BitBay’s marketplace, all without any third-party involvement.
BitBay also includes a protocol-level value protection feature, called the Dynamic Peg. With this flexible system of liquidity control, BAY serves as both a medium of exchange, and a store of value for investors.
The Dynamic Peg is decentralized, non asset-backed, and most notably, a democratic system. It is meant to reduce volatility, without anchoring the price to any one point.