A larger discount increases the incentive to convert. There is no clear answer on the "right" rate of conversions, nor particularly the right discount (though I do believe that under "normal" conditions a discount of 0% is incorrect, and having not maintained any discount originally is part of what led to the current situation). We have been running roughly 5% per week conversions, which I think (purely opinion) is about right, though possibly on the high side. We will need to monitor the situation as conditions change and perhaps make adjustments.
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