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!
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The interest is set by the medium vote of the Top 20 witnesses. So I am not sure how that is not considered decentralized since they are elected by the community through the ongoing voting mechanism.
In fact, the bottom few keep changing around.
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