Yes, one or more liquidity pools is definitely needed.

Part of the challenge is the fact that LPs currently require a 2-sided investment, i.e. to start a VYB:HBD LP would require an equal value of VYB and HBD. We have unclaimed VYB that can be put into an LP, but we don't have the HBD for the 'other side' of the pool. We would need to sell VYB to get the HBD, but there is not a robust market for VYB yet. It is kind of a chicken-and-egg problem.