We answered the bHBD question on so many different occasions. The arb bot we built was designed to improve liquidity for the whole system by bridging back HBD earnings to the oracle
That being said, a great smear campaign by a few ppl who I won't name spooked some of the bHBD whales who all decided to pull liquidity simultaneously. That's fine and it's in their right to pull liquidity but it didn't give the model we had of keeping some HBD on-chain and reserving some for the arb bot enough time to unravel and be responsive.
The oracle now has 200k+ HBD (and growing). bHBD is and has always been fully backed 1:1, but the smear campaign continues even though the few users who point to it probably aren't even aware there's $200k in there. The model going forward will be 1:1 on-chain HBD and the positive to that is that these smear campaigns won’t be possible but the negative is that we lose this highly profitable activity that was speeding the growth of liquidity for bHBD-BUSD LP liquidity
This is a good outcome thanks for coming around to the realisation that a wrapped coin should be backed 1:1.
Before I commented I should have checked the accounts recent activity where 2 weeks ago the hbd was repaid.
But it's not a smear campaign when users simply want transparency on where the funds are stored backing their coins, the arb bot wasn't transparent which created uncertainty, and this meant leofinance couldn't honour withdrawals.