Stablecoins and digital cash flow: from reserves to settlement
Stability is the goal
Stablecoins are usually anchored to some reference asset. Common mechanisms include legal currency reserves, crypto asset mortgages, and algorithm design; different mechanisms rely on different conditions.
Look at the three links separately
On-chain transfers handle token circulation, reserve arrangements explain how they are supported, and redemption terms determine how holders can redeem the underlying. The three are related, but cannot replace each other.
What to check when reading
First confirm the issuer, reserve description, contract address and redemption conditions, and then check the market liquidity. Just because a name or quote is close to the anchor value does not mean the price will never deviate.