I agree with all of this in principle. I especially like the auction of bonds first then let the hbd holders lock in if they wish.
Either way ppl need to have a shock, 1 year hold for what? 15% max. Surely ppl won’t agree to 20% guaranteed for a 1 year lock. When looked at from that perspective it makes more sense to most imo.
The question really is how long do we keep this up, as I can only feel comfortable doing it when the bonding and auction system is in place, and it sounds like this is at least a year away.
If resources were allocated to building This, and building was proceeding in ernest, i could maybe understand ppl getting upset, but the longer we keep this up without the bonding system and auction with collaterilisation system not having been worked on, the more trouble we are asking for