HBD could never be as stable as an algo coin that does instant conversions.

I would say the lack of arbitrage opportunities are more the reason for the failure to hold a tight peg. There number on the external exchanges are minimal outside Upbit which most cannot trade. The peg on the Internal Exchange held fairly well but there isnt enough there.

If the peg is going to truly hold, there needs to be many different LP that traders can arbitrage against. Plus, we need liquidity so the heavy hitters can move in.

For the foreseeable future, neither of them is going to happen. It will be a process to get there which is okay. However, in the meantime, the peg will break more often than it holds.

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