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I would just recruit 3-5 trusted community members for the proposal.
This actually makes a lot of sense. Sure it is always nice to try and devise every layer as decentralized. However, there are certain aspects that, for practicality reasons, require some form of centralized management.
A handful of trustworthy vested members handling this is not a vulnerability or too much of a threat.
RE: HBD Partial Insurance with BTC - Proposal to Print 1M USD of Hive