***HBD*** Hive Backed Dollars are  the Rebel Stable coin
I recently wrote about how dollar-backed stablecoins like Tether benefit the US government because they ultimately channel demand into US Treasuries. But hold onto your crypto wallets, because the Hive Dollar (HBD) operates on a fundamentally different mechanism—one that frankly, doesn't send any love notes (or cash) to Uncle Sam's coffers! So this essay focuses on how HBD is a maverick, a distinct beast from stablecoins like USDT or USDC. Here's why it's delightfully "excluded" from directly contributing to that juicy US Treasury demand.