Is LUSD decentralized?

I understand that LUSD is a stablecoin designed to maintain a pegged value to the US dollar, but I have a question about its underlying structure. Is LUSD truly decentralized in nature, or does it rely on centralized entities for its operation and stability? Are there any specific mechanisms or protocols in place that ensure LUSD's decentralization, and how does this compare to other stablecoins in the market? I'm particularly interested in understanding the level of trust and decentralization that LUSD offers to its users and investors.