how do the major stable coins maintain their price? 

more specific the answer the better

Building @warpcast and @farcaster / dad / like to read, cook, ski, code

yeah not sure about details. i'm assuming circle has a permissioned list of entities that can issue/redeem. everyone who can is strongly incentivized to do the arb. and yeah circle is probably doing the majority of that.

these are the details I want to understand

@farcaster dev / dad / books, cooks, ski, code ~ there are many things of which a wise man might wish to be ignorant

these are the details I want to understand
https://warpcast.com/moe/0x6324d8ac