I have read the USDT smart contract and there is no price re-adjustment. Only some management functions like blacklist addresses burn cash and of course the basic ERC20 functions.
But how do they re-adjust the price to be 'stable'
Is it done from outside?
Then do they have to do it for each exchange, using the exchange API?
More info is welcome!
USDT is not volatile as other cryptos and even in Fiat there is no perfect stable value, their value keep swinging in decimals all the time that is what happening with USDT too due to changes in excessive demand and supply the price fell short or high from the actual $1 value.