The Cork Peg Stability Module (PSM) takes a Redemption Asset (RA), like ETH or USDC, and creates Depeg Swaps (DS) and Cover Tokens (CT) for a specific Pegged Asset (PA), like stETH or USDe. The Depeg Swap token lets you trade the Pegged Asset for the Redemption Asset, so at any time you can swap your Depeg Swap and Pegged Asset holdings for the underlying Redemption Asset. When the PSM contract expires, the Cover Token holders receive the assets remaining in the PSM. The Depeg Swap and Cover Tokens trade freely in an AMM, this allows the market to set the value of these assets and reinforce stability in the pegged markets.