First it is a great thing to see initiative like this.
Next I just want to debate a bit over BTC as asset for backing HBD. It is very interesting idea for a dao to hold btc. In the long run it will most likely appreciate even more, helping the whole ecosystem. Buying btc is also with crypto ethos.
But btc is also volatile and when hbd will need it, it is most likely that it will drop in price, at least for the time being. Should we consider maybe backing up hbd with other stablecoins instead of btc? The pros here is that when the crypto market drops stablecoins are great hedge. The cons of this would be wich ones to choose, if they are centralized, not a lot of crypto ethos around it, and there is no possibility for appreciation over time.
Another thing I would mention here is can we tell from now, what will be the market where the buying of hbd will be done? The internal dex?
P.S. about the comparison with UST ... to my understanding they don't have debt limit and a haircut. This is very important mechanics to prevent death spiral. They have some form of taxes/fees to use if UST deppegs, but not a debt limit.
HBD might loose its peg under the current situation, happened twice in a 6 years history, but it will never implode to zero, mainly because of the debt limit and the haircut rule. Raizing the debt limit to 30%, maybe even 50% in the future is also important.