> PYUSD's price momentarily deviated from its $1 peg but quickly stabilized following the burn.
Why is there even a market for trading between asset-backed stable coins and USD? Shouldn't issuer always buy it back for nominal price?
Why is there even a market for trading between asset-backed stable coins and USD? Shouldn't issuer always buy it back for nominal price?
A few trusted parties is enough to maintain the peg through arbitrage