Hello dear @thomisin You have presented the good explanation about the stable coins.Due to their stable nature and less volatility they prove very beneficial for the trading and staking or holding.

Stable coins are well known due to their nature and in the high bearish trends of the market they tend to maintain the stable value that make them the trusted coins.

You have explained clearly about the topic.

A failure in the part of the centralized party can lead to depegging of the stablecoin

Here you have pointed out some major disadvantage sometimes due to the unpegging or the less entities for the backing up the assets is present to stabilise the price that tend to reduce the stability of the coin.

This stability lose sometimes cause the lose of many assets that is the major disadvantage. Overall the good efforts you have putted to create this article.

Good luck for the contest.