Lack of Redemptions will cause JUSD to trade below peg until liquidations happen

Summary

Due to lack of redemptions the token may trade below parity (real value) for prolonged time

It may be ideal to allow redemptions, perhaps via the JUSDExchange

This means in practice that no-one will prefer borrowing JUSD vs just buying it / swapping for it via the JUSD Exchange.

Because JUSDExchange has no fee, then, it will be very likely for all JUSD to be bought any time there's a need for it, rather than borrowing for it.

This will cause the DAO / Owner of the JUSDExchange to bear the burned of:

Opportunity Cost (locked capital for no yield)
Additional Smart Contract Risk (they are using JUSDBank instead of the people purchasing JUSD)

For no benefit

Reduced usage, and liquidity of JUSD because of downward price risk that cannot be easily mitigated

Manual Review

Consider adding redemptions or negative interest rates (being paid to borrow)