>people who are able to redeem who are incentivised to defend the peg This doesn't make any sense. Either you can sell it for $1 or you can't. If you can then

>people who are able to redeem who are incentivised to defend the peg This doesn't make any sense. Either you can sell it for $1 or you can't. If you can then it's free money to buy tether from people selling below $1 and selling it back to tether for $1. I would describe the relationship between tether and bf as more than "close" they have the same owner.