SBD went up to like 8 USD recently. Is there stopping that from happening to HBD? Realistically if it is tradable on other markets, and those other markets have more trade volume than the internal market, then what is the point of stabilizing the internal market mechanics if external is more of a driving force?
Genuinely curious, I have no idea what the point of HBD is for tbh. Seems like there is no actual need for it. Does it do something very important? We have plenty of decentralized exchanges, why even have an internal market at all?
The hdbstalizer is doing exactly that (stopping that from happening to HBD). I just published a post that goes into that in more depth.
As for the internal market issue, there are traders who arbitrage between all the markets for HBD, so the increased supply pushes down HBD price. @smooth has explained elsewhere that he keeps the bot trading on the internal exchange because this maintains transparency. Seemed sensible to me.
As noted in the other reply here, there is plenty of arbitrage between the internal and external markets. I have counted at least 10 or so bots doing it, and I may have missed some (although I can't tell for sure if some of them have the same owner).
Observationally, the price on the internal and external markets is almost always much the same (as a consequence, in part, of all that arbitrage). So stabilizing on the internal market must stabilize on external markets too, as long as this relationship holds up (which it has so far, and likely always will).