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Swap USDT for any of the 157 currencies on chain. Each one is a real token with its own Uniswap market.
How the price holds. A currency’s whole supply sits in a Uniswap position one tick wide, which is a flat sell wall rather than a curve: it all sells at one price. A keeper moves that wall whenever the real rate drifts, and refills it before it runs out.
Selling back. The vault buys currency back out of the dollars that currency’s own wall has already collected. It can only spend its own pot, so it can never owe more than it holds, and one currency can never drain another.