Well, this is a intelligent article. But I confess its beyond my understanding. I understand the bonding of HBD, are you saying HBD will be locked in savings and the layer 2 will bond the HBD and we can use that bond in other places. Ok, that's easy to understand coz similar things are happening, bonded versions of staked tokens.

It's good use case for HBD, no doubth. But how does this garantee its stability?...

HBD is not going to be backed by anything, it remains another kind of algorithmic stable coin, I am sure its not the same as UST, has many more mechanisms on how it functions and I to a extent agree most of us don't understand this, as was the case of UST...

I see USD is backed just by Govt. guarantee, matter of perception and its different from stablecoins particularly HBD... there is no Govt. backing, and thankgod for it to a big extend, so the trust factor shrugs has to come by mechanisms of HBD...

Let it take time...and not scale so much that cannot be managed, as long as decentralised systems are in place, and its not going to be in money market for now I think its safe, although its there in a small part of DEFI as in PolyCub...

UST I mentioned in one of my comments in your post was centralised, and I want to tell you why - coz its stability depended on how Luna Foundation Gaurd swaps assets...its obviously not decentralised, it depended on actions of LFG... it meant buying UST, swapping it for Luna and that had backing of a lot of big companies because they had brought loads of UST and Luna and stuff...

Manipulation...atleast room for manipulation was there...

There is a stabilizer that does the swapping job in Hive, so I kind of slightly read but not delved and HBD will always be a percentage of Hive and all that mechanism is to maintain its stanility or solvency.

In anycase as HBD ecosystem grows, risks grow... now not much eosystem is there and its a nice coin for Hivers and I like it that way, than it going mainsteam and competing with main stablecoins, although I would not know...

And this BTC hype I tell you...

Yes, BTC is a decentralised currency, its not controled by Government all cool but its volatile, coz it no stablecoin so why all this countries making treasury of BTC and feeling supreme ...as if there are no risks, there will be risks in any volatile asset if its used for lending, borrowing and all...and again normal people don't understand they buy into the hype...

UST's fall... mecanisms faliur is there but its also due to it being targeted by big entities, they dumped a lot of UST and started the drama...

it all depended on how LFG balanced the ust by burning, swapping it and , finally its centralised and collapsed because the entity failed in the task...

Stable coin should be decentralised not depending on one entities balancing act, that's what I feel... although I supposed they had incentives for investors to burn UST for Luna and vice versa, and that was decentralised mechanism which did not work, whenever crash kind of price falls comes...

I don't know how stable hbd will be in large scale, its a massive challenge ofcourse and most importantly people will be scared of investing in algorithmic stablecoins for sure...