Does HBD a stable token because for me, I'm not seeing it as a stable token. I like the token because when you convert it, you get enough of Hive in your wallet.
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Does HBD a stable token because for me, I'm not seeing it as a stable token. I like the token because when you convert it, you get enough of Hive in your wallet.
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There is the stabilizer project so it will go back to $1 soon enough. At least recently, it may lose its peg for a few hours or days before reverting back close to $1 from what I see. The stabilizer project tries to make the price closer to $1 using the internal markets and the exchanges.
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Haha, yeah this comment comes up a lot...
Is Hive Backed Dollars (HBD) REALLY a stablecoin?
Yes, Hive Backed Dollars (HBD) really is a stablecoin.
It just has some trouble holding its peg and doesn't always act as stable as it should be.
Remember, as an algorithmic stablecoin, it doesn't work the same way as the collateralized stablecoins that you are comparing it to and these factors can lead to it drifting away from the $1 price.
As jfang has already replied, there are however a number of mechanisms in place to try and make the HBD price more stable, such as the stabiliser.
I've also spoken before about more external HBD exchange listings helping, as people will then be able to constantly arbitrage prices that move away from the peg.
Be patient.
HBD will eventually turn into the stablecoin we all want it to be.
It's just not quite there yet.
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