High APR of HBD getting into circulation is the primary cause. In my opinion, APR of HBD should be reduced to 0%. No need to pay interest on HBD savings to users. There should be a fixed percentage of HBD generated from author/curation reward that goes to the funding activities DHF. Also there is no need for ~3% interest paid out just for holding hive as HP. Users should only get rewarded for active participation in the community, no free lunch. Hive burned as a result of the daily does of spam content "Burn Post" and "Burn Comments" as expected is very much insignificant. These spam posts are doing more harm to the community by getting hefty upvotes by the whales, whales rewarding themselves in the form of curation rewards, and these posts often result in the top voted posts every now and then. This is bad for the community and bad for the SEO.