Glossary
Stablecoin
A token that aims to track a currency, usually the dollar. The peg is a design, not a law.
A stablecoin is still a token on a network. Some are IOUs from a company that holds reserves. Some try to hold a peg with algorithms and have failed in public. The name describes an ambition.
Banking rails, redemption rules, and which chain the token lives on are part of the product. A depeg is not a glitch in “crypto.” It is the design meeting the world.
