Pegged: A Proof-of-Luck Protocol for Denominated Stable Money

A Structural Response to the Capture of Currency Issuance by Replacing Merit and Control with Access and Chance

2. Design Goals of Pegged

Pegged is a neutral protocol. It does not evaluate, validate, or optimize. Once deployed, it operates autonomously—without governance, updates, or intervention. Its purpose is not to create money or generate yield, but to redistribute value through irrevocable lotteries. This section outlines what Pegged is structured to avoid.

2.1. No Governance Pegged contains no administrative privileges. There are no upgrade mechanisms, no voting rights, and no fallback controls. After launch, its code cannot be changed or tuned. If the system succeeds, it does so independently. If it fails, no authority can intervene.

2.2. No Issuance or Yield Pegged does not reward work, stake, or participation. It does not generate yield or emit new tokens over time. A fixed supply of #PEG instances is created at genesis to enable initial draws. Beyond this, the protocol only redistributes what users contribute, minus execution costs.

2.3. No Identity or Preference Pegged applies no identity checks, tracking, or filters. Every address is treated equally. The system does not record past behavior, assign reputation, or offer preferential access. It selects winners randomly and forgets participants immediately.

2.4. No Narrative or Community Layer Pegged is not promoted, curated, or governed by a community. It has no roadmap, forum, or official interface. There is no mission or messaging strategy. Pegged is indifferent to interpretation. It is simply available.

2.5. No Monetary Expansion, No Adjustment Pegged has no monetary controls. It does not mint or burn in response to demand. Supply is not fixed, but grows only through usage and distribution. The protocol includes no rebasing, reconfiguration, or adaptive behavior. Once a draw is executed, its outcome is final. The protocol cannot reverse or compensate mistakes —because it cannot make them.

2.6. Irrevocability by Design All actions are final. A draw cannot be canceled, replayed, or appealed. There is no rollback path. This is not a limitation, but the protocol’s core principle: a structure where fairness is enforced by irreversibility, not trust.