The way we peg our token is unlike any other stable coin.
The closest to it its FEI, its on top for liquidity on UniswapV2 https://v2.info.uniswap.org/pairs
It works in similar fashion like HBD. There is a treasury/DAO, that put orders on a DEX/Uniswap, plus their are incentives for outside buyers, if the token drops to 0.9, when you buy you get more. If it is above peg, you can always buy unlimited amounts from the house, and it automatedly add that as liquidity.
I'm not a fan of locking HIVE for HBD creation, as in most cases it is overcollateralized and capital inefficient.
I'm a fan of AMMs and going forward removing the trust factor for the smooth bot that is now doing the pegging.
At this point, there is a big probability for the HBD to continue to be stable, just because of the simple fact that the DHF now has almost 5M HBD (from the 1MHBD last year), it is the biggest HBD holder, and it has the firepower. It will continue to grow and keeps its dominance.
More like all cases in crypto land. Out in the real world you can put your identity up as collateral, I imagine crypto will figure out solutions that allow us to leverage our reputations.