I'm new into blockchain development and currently challenging myself to create a stablecoin. I have created an ERC20 token but I don't know how to peg the price to the desired price. Please can anyone put me through on how to go about it?
how to peg an ERC20 token to a stipulated price in other to make it a stablecoin [duplicate]
Can you specify further if this is a fiat-backed stablecoin or an algorithmic stablecoin? Pegging of price usually is out of the control of fiat-backed stablecoin, but for an algorithmic stablecoin, if you have a mechanism to maintain the pegging that could work. However, as far as now, algorithmic stablecoin hasn't worked very well to maintain its peg.– Yoseph Kurnia SoenggoroMar 7 at 2:45
can you provide further details?– Talha Sajid ChaudharyMar 7 at 6:21
In most cases this is done with the power of algorithmic bots that can buy or sell tokens and fill the market with more liquidity, pushing the price back to the desired peg.
You can search for repositories through GitHub. Probably you will be able to find good solutions for studying and build your own stablecoin.