Hive Bonds are not an actual thing. That is something that I put out as a discussion topic.

What you are referring to is the savings on HBD. People can invest their HBD into the savings account and earn 12%. The payout is based upon HBD, not based upon the price of HBD. So you get .12 HBD per year for each one put into the savings account.

HBD is worth $1 worth of HIVE on conversion. Obviously the peg is not exact as we continually see. There does seem, however, to be a floor on HBD. It is holding up fairly well, only down 5% below its peg in spite of the sell off. That is what happens with liquidity.

The HBD stabilizer keeps running so as to put a "floor" in on HBD (or so we believe).

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