My favorite stablecoins remain HBD and PHBD-USDC

Stablecoins are made to have a certain value in relation to something else like fiat, precious metals (e.g Gold), exchange-traded commodities, and crypto. Although being pegged to Bitcoin did not work out so well for Terra's stablecoin UST but HBD which is also backed by crypto too didn't crash. Am not saying that UST being pegged to Bitcoin was the reason for the crash though because Bitcoin was meant to be a reserve currency that will help UST to maintain the $1 mark even if it dropped a little, but the rapid fall of UST and LUNA at the same made their Bitcoin back up insignificant.

Because how LUNA works to the best of my understanding is when you sell UST for LUNA, you burn UST and print more LUNA and when you sell LUNA for UST, then you burn LUNA and print more UST, I really don't know how it works when you sell LUNA or UST for other coins (still researching but you can enlighten me if you know, I don't mind), and why it would be hard for LUNA to recover is because of it huge supply now. All stablecoin I know are pegged to worth one United States Dollar ($1).

Stablecoins were made to be a safe haven for crypto traders during the dip to help shield them from the volatility in the market, although they feel the heat a bit when the market is dipping but not as much as all other coins do, and the chaos that came with the UST crash made most people to be scared of saving their money in a stablecoin and a few days later when USDT dropped below its usual mark the fear of stablecoins not being able to act as a shield against volatility doubled, many taught USDT would be the next UST, but it eventually came back to $1.

But my best stablecoin is between PHBD-USDC and HBD, the only the difference between them is that PHBD-USDC offers a higher APR than HBD and it Is built on the polygon blockchain, although the APR fluctuates from time to time but currently it's almost the same with the APR you get from saving your money in HBD savings, the APR for HBD savings is 20% and at the moment the APR for PHBD-USDC is 27%(although it might have changed at the time you are reading this post). HBD was impressive during the UST saga, despite the fact it is an Algorithm and also a Crypto backed stablecoin, it didn't dip that much and it recovered so fast. It's currently above $1 but it is with a little faction.

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