Actually there was one, but unfortunately that project collapsed. Does anybody still remember Terra and Luna?
Basically, there are two types of stablecoins, asset-collateralized stablecoins, and algorithmic stablecoins.
For asset base stablecoins, a third-party oracle(or your own foundation) needs to be present to make sure your native token can be exchanged 1 for 1 with other currencies(like USD or a cryptocurrency) and there are a few challenges you need to overcome.
- You need to have a Defi system before your blockchain
- A large amount of real money needed to be locked from the start of your blockchain. Which is a huge commitment. This amount increases with your blockchain inflation.
- Your blockchain can't re-use the majority of existing blockchain's game rules. For example, gas fees, inflation, chain re-org, and gas burning.
The algorithmic stablecoin, on the other hand, is much more flexible. Terra was a really good try.