Copying Luna like algorithm for peg instead?

It distressing times .Had been complaining alot and making jokes ,comparing ONE to Luna…but it got me thinking what if harmony did came up with a luna like system . Not the hyperinflation part but the algorithm of pegging. Not a full blown expert on the field and this idea is more of a discussion to broaden my knowledge on how these system works.

So here is my (maybe flawed ) Idea.
Starting with a portion of the depeg say 25million…fork those specific token into harmony algorithm ones like 1BUSD into BUSD-2(algorithm) and airdrop them…and make them able to swap BUSD-2 to $1 worth $ONE through treasury/loans ,fees,% stake rewards ,donations anything.,

The arbitrage opportunity will bring opportunitistic people into the ecosystem by buying one( increasing price )
buy the BUSD-2 ( increasing price) and swap them back to One for the profit.
the arbitrage opportunity will essentially help holders opportunity to get their worth instantly…while also balancing the One price while arbitary opportunity will help balance the peg in way less amount.

limiting the algorithm to only upto the amount that is comprimised will ensure that there is no over utilization .If this succeeds …they can ideally go over the remaining 75% slowly over 1 year while ensuring ecosystem growth and making their treasury stronger ?

bonus-shows team competency in technicals stuff

maybe increase the fees a bit,reduce staking reward by 1% for pegs…and bring out a donation wallet aswell. i am sure the crypto community are strong enough to atleast raise a few bucks.

Downside- beneficial for holders to swap to the final value ones rather than giving arbitary opportunities draining the fund , solution could be introducing a timelock ones as a final swap.

A community member came up with StableX, and algo stable coin. I can’t find the information on the forum, but there is an attempt already in production. Although algo stable coins have thus far been a failure.

Algo stable is the one thing that can bring us back up to alive .

The team required strong people to make it succeed .