I don't say a lot but you guys should follow a similar step as MakerDao, since MKR is used to generate DAI, and create collateralized vaults, similar approach would be a safer path to hold Hive or other tokens and generate HBDs.

It should be not the same way as MakerDao, because Hive Engine has a vast playground in terms creating new contracts on its own chain. Taking HBD out of Hive Engine seems a bit complex mechanism, pHBD as you mentioned, but it will be a different contract with some liquidity available to web3 market in advance to make it run, this could create instability if you don't declare HBD a stablecoin in web3 market, and for this you need to follow regulatory matters again. So its not simple as it looks.

20% APR is way too much, Hive community is running an economy of its own, and already getting good returns on various contracts, like HP or LP has lowest returns and can be assumed the yields will not rise up further. But in HBD case most stablecoin yields are limited to 5%, which is reasonable, so I would not recommend a high returns for HBD, since it already has a good amount of returns on chain.

Bring more people to use Hive Engine and #tribes to generate more HBD for a longer and stable future.

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