A few years ago, when I still was a university student, I was at a table with one of my friends at Cafeteria and since he was the blockchain genius among us, I told him that Imagine there was a coin and each single coin was exactly priced at one dollars and he answered Haven't you heard of Tether?.

Since then (6 or 7 years ago) I just got familiar with the concept and now, I am going to get confirmation on my knowledge of Stable Coins. To my understanding, if we build a stable coin it will be like this:

1. We should have a clear determination of what is the collateral of our currency and each unit of our currency is exact equivalent of what unit of that thing. For example Tether or USDC do 1 to 1 ratio. But my coin might be 0.1 gram of gold or a bottle of water, right?
2. Then we should keep track of the collateral's price. For example for a 1 to 1 ratio, if we try to make the thing on TON network (a network which is easy to do the math) and considering today's ton price at 3 dollars, each unit will cost around $0.33 tons.
3. In order to make our own unit, we should mint the amount based on the price of the collateral. Also some of the minted tokens will circulate and basically no new coin will be minted in a lot of cases, right?

And from a technical perspective:

We must have some procedure to mint the token, a procedure to buy the collateral and then adding it to a liquidity pool, right?

Basically it's nothing technically hard, the automation and getting investor's attention is hard.

If you have any other tip on the topic, I'm all ears.