Significant features of crypto-backed stablecoins are:
1. The value of the stablecoin is collateralized by another cryptocurrency or a cryptocurrency portfolio,
2. The peg is executed on-chain via smart contracts,
3. The supply of the stablecoins is regulated on-chain, using smart contracts,
4. Stablecoin is a cryptocurrency with stable value. Because the price of the cryptocurrency fluctuates greatly, the crypto market needs some different cryptocurrency to avoid huge losses.