NuBits: the First decentralized digital currency to keep $1.00 for an entire year

Widely? The only scam accusation I'm aware of came from Daniel Larimer of BitShares, which is a direct competitor of Nu. The scam accusation was directed toward our parking interest mechanism. With this mechanism NuShareholders could offer interest to those who parked their NuBits for a certain amount of time, which created synthetic demand during times of demand decline.

The problem was that this was only a temporary measure to increase demand and one that would ultimately increase the supply when the interest was released to the parkers. This made the parking system unsustainable if it was the sole mechanism used to control supply and demand.

Thankfully NuShareholders correctly identified this as an issue in the very beginning even before Dan Larimer's comments and they've worked over the last year toward a solution. NuShares are now used to back NuBits. When demand is low and all other measures have been exhausted, NuShareholders can vote to print NuShares, which will then be auctioned off and the proceeds used to purchase NuBits and burn them, permanently reducing the supply. This process has already been used to successfully reduce the supply from 1.8 million to under 600k NuBits.

When demand increases again, the proceeds from NuBits sold can then be used to buy back NuShares and burn them, effectively lowering the supply and returning value back to NuShareholders. Our first NuShare buyback and burn was actually just completed.

Parking interest is still part of the system, but it is used as a short-term supply/demand control mechanism. If parking interest rates continue to have no effect on demand, then it can be used as an indicator that NuBit burns need to be carried out.

As mentioned, these mechanisms have now allowed shareholders to successfully hold the $1 peg for an entire year. We've also been able to keep a stricter peg when compared to competing projects like BitUSD, which has been known to sway in value, negating the point behind stable cryptos.

All of these improvements were publicly discussed on our forum and voted on using our motion system, which allows shareholders to quickly come to consensus on important issues. You can read about all of this, which has been documented in the history section of our website...

https://docs.nubits.com/history/

Nope, not at all, its quite legit actually

Would you have any source to back that?

It has been called a Ponzi Scheme back when it was released in Sep 2014 (as Bitcoin was in 2011) but now such criticism had died off.