This is why we need to talk about this topic. There are multiple proposals and solutions being offered. I think the one offered by @blocktrades makes sense, to create a "Hive → HBD conversion operation".

The Proposal you mentioned @leprechaun is;

Reduced Inflation Proposal :

Proposal #21: Aug 31, 2019 - Aug 31, 2029 Created by @demotruk
https://peakd.com/me/proposals/21

• This proposal is to burn approximately $1,000 SBD per day by sending it to the special @null account. Anything that is sent to @null is removed from the Steem supply, as the network protocol ensures that it always has balances of 0, and it has no owner.
• If this proposal is ever above the return proposal, it is a choice by stakeholders to reduce inflation rather than allow the DAO to save money which will eventually be released into the market as inflation.

Also read the other funded proposals;

HBD Stabilization #158

@smooth : "as @marki99 points out, under-peg situations are already reasonably well-handled by the structure and incentives. It is the upper peg which is the most serious deficiency, so it is being prioritized. We may revisit below-peg situations later."
@smooth/hbd-stabilizer-proposal

Supplemental funding for HBD stabililzer #159

"By now the HBD stabilizer proposal and supporting automation have been running smoothly for a few days, the algorithm has been published as open source, and both the automation and published algorithm have been slightly updated a few times. Everything is going well."
@smooth/supplemental-funding-for-hbd-stabililzer

Supplemental funding #2 for HBD stabilizer #166

This proposal adds an additional 400 HBD/hour of funding to the HBD stabilizer, described here as well as in several other posts in my blog.
@smooth/supplemental-funding-2-for-hbd-stabililzer

Supplemental funding #3 for HBD stabililzer

"This proposal adds an additional 800 HBD/hour of funding to the HBD stabilizer, described here as well as in several other posts in my blog." "Based on current prices, daily funding to @hbdstabilizer results in approximately a 40000% annualized (non-compounded) return to the DAO and to Hive stakeholders, accomplished by transmitting excess demand for HBD into demand for HIVE which is then purchased from the market and sequestered back into the DAO. Currently, approximately 40000 USD worth of HIVE (50000 HIVE) is being purchased and removed from the liquid markets per day."
@smooth/supplemental-funding-3-for-hbd-stabililzer

BURN 821 HBD/day

"This proposal is to burn 821 Hive Dollars (HBD) per day by transferring it from the Decentralized HIVE Fund (DHF) to @null. When the Proposal System was created during hard fork 21 in August 2019 there was significantly less funding and 821 HBD represents half the recent daily increase."
@crypticat/burn-821-hbd-day

Also relevant, @blocktrades made this post 3 days ago on the subject.

Some speculation on HBD price movements and how it impacts proposals

"I recently unvoted all the proposals that I was voting for (unvoted on a temporary basis only) so that the @hbdstabilizer would receive more funds to fight the price spike in HBD."
@blocktrades/some-speculation-on-hbd-price-movements-and-how-it-impacts-proposals

Lets talk about HBD this week!

If anyone would like to weigh in on what should be done, please comment or link to a post you write about it.