It will not, exactly for that reason.
The contract is minting AND burning USDk in real-time, based on the current at any given moment US Dollar rate for Ether. Deposit of ETH mints corresponding amount of USDk, while the withdrawal of ETH from the contract, burns it right then.

USDk Stablecoin itself does not change in value. The Kovrita incentivization model is based on issuing extra USDk to those staking it. Staking Rewards are regulated via Soft and Hard Withdrawal Caps (terms used by Kovrita Project).  More about it here: https://kovrita.io/#faq ("Reward Options" section)