Are you accounting for the immediate HIVE->HBD conversions that happen when the stabilizer sends HIVE back to DHF?

The reason I ask is that what happens a lot is that the stabilier will convert HBD to HIVE because HBD is slightly below the 1.00 peg target, but by the time the conversion completes it will be back to the peg and the stabilizer will send the HIVE back to DHF, resulting in a reverse conversion that appoximately nets out the first one.

Also, I don't think cutting the stabilizer funding is a good idea. If users convert HBD, they keep any profit from discount to the average conversion rate, but of the stabilizer does the conversion, it keeps the profit, and returns it to DHF (in the short run this functions like a burn).

If the problem is HBD being below peg too much, that indicates an excess of HBD being sold by users, and we should look for ways to reduce the amount that is being distributed into circulation by post rewards, DHF proposals, and HBD interest (it's not immediately clear which of these are contributing the most to selling pressure). Obviously that is painful, but if we're seeing that the market can't support it, tough decisions should be made.