How does Tether maintain its peg to the US dollar?

Hi guys,

Just wondering, how exactly does tether (the cryptocurrency which maintains a 1 to 1 peg with the US dollar) work exactly in terms of its peg?

Specially, how is this peg maintained??

I struggle to understand how this peg can be maintained exactly if fiat currencies cannot even do this.

Take for example Lebanon. For those unfamiliar the Lebanese Lira used to have a peg of 1500 Lebanese lira to 1 US dollar.

This peg was maintained for decades until it could no longer be maintained anymore, the peg was let go and hyperinflation was created as a result until present day.

There are many other countries with similar experiences.

My question is, why would Tether be any different?

Or is it not and there will be a time in which the 1 to 1 peg between tether and the US dollar will be let go as well and all those holding Tether will have their money rendered valueless after the fact?

Thanks in advance.