RE: RE: pHBD Should Be Polycub's Main Token

Derivatives are instruments which control an underlying asset, so yes you can create derivatives like p-HBD and b-HBD, and they are valuable because they are backed by and control HBD. It doesn't matter how many derivatives you create, as long as each represents and controls an HBD.

The fact that the derivatives exist on other blockchains means the market for trading the original HBD is bigger, which means increased utility. Utility is always a core component of value.

So from a financial derivative viewpoint, wider distribution and more utility of an instrument is always increases value. Utilityy of US Dollars increase their value, limitations of the utility of a currency like the Russioan Ruble, reduces it's value. Utility is a core characteristic of value for goods, services and commodities. The more markets exist for them, the greater their value.

And as long as there is no hypothecation; "multiple derivatives backed by the exact same HBD" it is not a house of cards, but a house with a firm foundation.

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