I think the idea that 3% interest would drive the price of HBD to $3 is completely nonsensical. It's not even been advertised much, except to a small extent on Hive sites themselves, so even if 3% was somehow a super attractive rate (it's not), I think you will find that many current buyers don't even know it pays interest.

I'm also very tired of the argument that HBD can't be pegged. It's also a ridiculous argument, in my opinion. There's been no strong effort to make the peg work since it was created. The only attempt I can even think of was the hbdpotato effort, and it never looked like it would be strong enough to do too much.

Also, I know for a fact that you can create a peg just by market activity alone. That's basically how USDT works now.

But we're trying for something a little more interesting: a trustless stablecoin. While it's not yet proven, I think we can setup all the mechanics to make it work.

For the rest, I felt smooth gave a fairly straightforward answer, so let's leave it there.