A question about non ERC-20 stablecoins and custom tokens.

Hi All,

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Newbie here. Had a weird question.
Why most stablecoins (minus UST) and a good number of custom tokens are ERC-20 Tokens. I realize that Ethereum is the most secure chain has a lot to do with this but is there any other reason?

Per my limited understanding each project has its own specialty. For example:
- Nervos , COSMOS & Polkadot seem to be for Interblockchain Communication
- QUANT is for connecting legacy systems to blockchains
- The Graph (which I think isn't even a blockchain) is an indexing protocol that allows one to sniff the blockchain's contents
- ChainLink is for Oracles.
etc. etc.

Similarly, Terra seems to sell an economy surrounding fiat-pegged stablecoins as their main schtick. Similarly, Hathor claims to have simplified custom token creation down to just a couple of clicks in their wallet.

So what confuses me is how come despite having stablecoin/custom tokens as their specialty these two chains Terra/Hathor get pwned by Ethereum.
Now I only mentioned these two because I only know these two, I have no clue whether Algorand, Near, HarmonyONE, RadixDLT, Avalance or Tezos are better than Terra & Hathor for custom tokens.

So far the reasons I got were that ETH has a first mover advantage, large ecosystem, "brand" recognition, a lower entry barrier (for token creation) and an impressive security. I am not dismissing these as irrelevant, in fact I can see why these factors sway people over to ETH for custom tokens. But now what I want to know is whether the underlying technology of certain chains is better suited for fiat-pegged stablecoins or custom tokens. Even if said chain looses out to ETH on the other departments.

I started this discussion in r/CryptoCurrency but the thread died down quickly. Thank you in advance.