A multi-coin mechanism for maintaining a stable value of cryptographic coinage traded in a decentralized market exchange without requiring a reserve. Multiple, pegged cryptographic tokens are traded in the reserveless decentralized market exchange. Each of the multiple, pegged cryptographic tokens may be pegged to a different asset (such as different currencies and/or commodities). The multiple, pegged cryptographic tokens are value related based on cryptographic exchange rates. Whenever a market transaction is processed (such as a buy or sell order), at least one of a destruction operation and a creation operation are performed. The destruction operation destroys at least one of the pegged cryptographic tokens, while the creation operation creates new ones of the pegged cryptographic tokens n. The multi-coin mechanism thus implements a decentralized and algorithmic monetary policy that removes and/or deposits cryptographic tokens to/from the reserveless decentralized market exchange to alter supply and to maintain stable coinage values.
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