UST broke its peg on the dollar, I am not sure of the term dollar-backed stable coin if there is a centralized point of failure, I cannot put my money and wish that the blockchain won't fail if there is centralization concern.
Sad to say but 99.99% of crypto is centralized, not near the meaning of decentralization, then how HBD can help? It is an alternative to most failing stable coin out there plus no centralization issues
BUT HBD is not stablecoin, eh?
In meantime, as of writing this post, the answer is no, HBD is not a stable coin yet, but when we grow the market cap of Hive and HBD, perhaps we can see a more stable coin for HBD and backed by true decentralization. Just imagine if we grow our market cap like Luna and Solana, the world can see a true community backed-dollar stable coin.
Just want to encourage our people here to tweet reply under this tweet and explain the HBD existence, there are good posts made by 
https://twitter.com/TheRealPlanC/status/1523823260047138816
- TheRealPlanC
https://twitter.com/Dennis_Porter_/status/1523815737801932800
- Dennis_Porter_
Under this tweet, I replied to this
Please screenshot or leave the link below for bonus HBD tips for our participation
If you are not aware of how we are doing here, kindly check our post
Keep doing a great job for Hive