What is the thinking with the 5% premium for creating HBD?
I presume it is a security feature to deter manipulation especially since the HBD can be then converted to HIVE and be a threat to governance.
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I think deter manipulation but I suspect also just a desire to generate a profit for the blockchain in the event of large pumps (which it has done in the past). It mostly wasn't my idea, so I can't say 100%.
I think the idea of a spread is good but I would apply some of the fee in both directions and probably also reduce it.