Why Do People Trust That Stablecoins Will Be Stable?

Stablecoins ostensibly should be pegged to whatever the asset is that they're supposed to be pegged to. Some of the major stable coins are called asset-backed stablecoin, where they supposedly maintain backing reserves such that each single stable coin maps over to one single dollar. There's no real enforcement that any of these stable Coins maintain those reserves and some have been caught lying about it.