Centrally backed stablecoins USDC and USDT makes up majority of crypto transactions. Attempts to create a decentralised stablecoin have been met with sustainability challenges and low adoption rates. The most successful decentralised stablecoin is USDS formally DAI.
USDS is a collateralise stablecoin. The issue with collateralise stablecoin is when the price of the assets depreciate the stablecoin can lose its fiat peg. To maintain the peg, complex mechanisms are developed. Example USDH.
Solana lacks a successfully decentralised stablecoin. LST yields offer a sustainable way to create a stablecoin backed by value.