Before we had the DHF there pretty much was no use for HBD beyond speculation. The DHF doesn't need HBD to function, DHF could just payout in Hive instead.
There's really no use case for HBD as you can already use DAI for almost 0 fees by using sidechains, and when Ethereum starts rolling out all the huge updates they are doing to turn into POS there will be virtually no fees on layer 1.
I agree 100% I never understood why most don’t see this:
I don't really know either, could just be it was a "given" that we needed it. We also don't need the internal Hive/HBD market either, the only reason that exists is that we need to trade HBD against it to balance it to be stable.
Idk.