Most traders fixate on peg stability, missing what actually drives stablecoin supremacy: who captures the carry and how well the system holds during volatility spikes.

The real test isn't maintaining $1—it's execution under pressure. Take the RWA-collateralized stablecoin heading to mainnet this month: it's pairing real-world assets with algorithmic fee adjustments that tighten spreads when volatility hits. The mint fee auto-tuning mechanism responds dynamically, tightening when spreads widen and loosening when conditions stabilize.

Next phase layers in BENJI, broadening the collateral mix. This isn't just another peg play—it's about velocity, capital efficiency, and how quickly a protocol can absorb market shock without breaking. When the volatility hits hard, that's when you see which designs hold and which crack.