Peg
A target price relationship between an asset and a reference asset or value.
In more detail
A peg is what the asset is meant to track; the market price tells you how closely it's doing that right now. Keeping the relationship usually needs some mechanism, such as redemption, collateral or incentives. A token trading away from its target has deviated from its peg, even if its name still suggests stability.
How you might use it
A stablecoin targets $1 but trades at $0.97, so people describe it as below its peg while checking whether redemption still works.
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