Stablecoins Aren't "Stable"? Deconstructing the Three Price Peg Mechanisms of LisUSD How does LisUSD maintain its price at $1? It's not about team hype, but rather the automatic operation of three sets of cold, mathematical, and game-theoretic mechanisms. Technical Breakdown: Arbitrage Peg: This is the core. When LisUSD falls below $1 on a DEX, arbitrageurs buy and redeem $1 worth of collateral, profiting from the price difference and driving the price back up. Redemption Peg: Users can always redeem their collateral at $1 (paying a small fee), setting a hard floor for the price. Incentive Peg: Protocol incentives (such as $LISTA rewards) guide users to mint or redeem LisUSD, regulating market supply and demand. Data Insights: I monitored the weekly average price range of LisUSD on PancakeSwap and found that it fluctuated between 0.995 and 1.005 99% of the time. During periods of high volatility in BNB, the price difference reached a maximum of 1.5%, but was pulled back by the arbitrage mechanism within 4 hours. Potential Risks: All three mechanisms rely on on-chain liquidity and active arbitrageurs. If the market experiences extreme panic, on-chain liquidity may dry up, arbitrage may fail, and redemption pressure could surge, testing the liquidation system's processing capacity. Observation Points: CEX/DEX liquidity depth of lisUSD, and slippage of buy and sell orders for major trading pairs. Closing Interaction: How would you rate lisUSD's pegging mechanism in the next bear market stress test? (out of 10) Stablecoins are subject to the risk of decoupling; no pegging mechanism is absolute. @lista_dao #USD1BestInvestmentStrategyListaDAO $LISTA