USDT is made by Bitfinex and is known to have no verification of it really holding 1 USD equivalent in their stash. Yet many exchanges use it, because its a cryptocurrency and this way they avoid FIAT gateways yet have something "keeping value".
Worth to note that Bitshares also has pegged assets that work and never lost the peg ie bitEUR or bitCNY. So you can trade this types of fiat ie on OpenLedger while staying 100% decentralized.
SBD lost the peg long ago and is worth more than STEEM so this one we take out.
Yet we have new player in town - TrueUSD aka TUSD which wants to be direct competitor of USDT and possibly take it out.
They have just 12 millions so far printed so volume is small but already got support from Binance and Bittrex/UpBit which shows the future seems bright.
This has 400 pairs over loads of exchanges.
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