I think a better comparison to HBD current system is to Haven(XHV) USD. It basically a $1 token equal to $1 in Haven(XHV). However they have a two way peg system. You can redeem $1 of XHV for 1 Haven USD but you can also convert 1 Haven USD to $1 of XHV. Right now HBD "peg" is one way HBD to $1 hive. No can arbitrage this natural peg. However when the Hive to HBD is added this would help arbitrage traders print more HBD fast. As $1 in Hive to 1 HBD would be the game-changer