Good write-up. My main concern is with how the HBD value and interest rate are adjusted. Call me distrusting of centralized authorities of any kind, I just feel like at some point there has to be a clear delineation of what is possible with decentralizing control, and what still needs work. I think HBD is pretty ingenious in how it's designed, it's certainly different than any other stablecoin I've heard about. Good reading!