Hive Dollar
HBD
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
HBD (Hive Dollar) is a decentralized, protocol-native USD-pegged stablecoin on the Hive blockchain utilizing a convert/burn mechanism with HIVE, bounded by a 30% debt-ratio haircut rule. On the positive side, it features transparent DPoS on-chain governance, no custodial counterparty risk, and a clean exploit history. However, its development data is dated, with no verifiable milestones found past June 2021. Furthermore, the asset suffers from extremely thin external liquidity, reliance on HIVE market health, variable witness-controlled savings APR, and the lack of a formal security audit of its core peg and conversion mechanics. A data gap was noted for Community Support due to insufficient retrieved engagement metrics, and its weight was proportionally redistributed across the remaining sections. No qualifying red-flag events were established.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Hive Dollar (HBD)
Hive Dollar (HBD) is a decentralized, protocol-native USD-pegged stablecoin operating on the Hive blockchain. Launched in 2020, HBD functions directly through base-layer protocol rules rather than an isolated smart contract. The project lacks a centralized corporate issuer or dedicated leadership team, relying instead on community developers and on-chain governance via Delegated Proof of Stake (DPoS) consensus, where elected witnesses manage protocol parameters.
The core mechanism of HBD utilizes a protocol-level mint-and-burn conversion system paired with HIVE, rather than traditional fixed supply caps or token emission schedules. There are no founder allocations or vesting schedules, as supply fluctuates purely based on user conversions. Structural risk parameters include a haircut rule that caps the HBD debt ratio below 30% relative to HIVE's total market cap, alongside a 5% fee burned on HIVE-to-HBD conversions. HBD also features a witness-voted savings annual percentage rate designed to support its utility within the Hive content and social ecosystem.
While the protocol has no recorded history of hacks, insolvencies, or regulatory enforcement actions, it has experienced material peg instability in the past. Historical deviations include an all-time low of $0.3934 in April 2020 and an all-time high of $6.01 in April 2025 before returning toward its target. Additional structural risks include systemic reliance on HIVE's market capitalization, thin trading liquidity outside the Hive network, witness-controlled savings rates, and the lack of a dedicated independent security audit of the core protocol conversion and debt-ratio mechanics.