RE: HBD is demonstrating its potential against UST as an algorithmic currency.
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Sure, as a savings instrument and stable currency it is very good, but there can be a big problem when it is used as a trading pair, but by that time some method to avoid risks will have been developed.
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Increasing liquidity and arbitrage chances will definitely improve stability for the most part. Ironically that improvement in stability and liquiity could make it more attractive for the types of moves that could wreck stability (like UST).
Luckily HBD already has some measures in place for that which UST did not have. Haircut and conversion delay time.
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Of course, as I read in a taskmaster publication, on luna there was not enough development to protect the chain from attacks, and well these are mistakes that can be learned to avoid.
I really liked that haircut.
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