I updated the cutoff price for converting HBD into HIVE from 0.97 to 0.99. The reason being that, despite there being some risk to the conversion itself, receiving HIVE after 3.5 days provides a second opportunity for the stabilizer to earn a profit (and stabilize the price of HBD) by buying HBD for under 1.00. In the event that HBD is at or over 1.00, the HIVE can be sent directly to the DHF, which converts it at 1.00, so no loss. Overall this is an expected profit for the stabilizer/DHF.
Theoretically, by this logic, we could use 1.00 as the cutoff rather than 0.99 but there are some other small frictional factors (some of which can be fixed). So 0.99 is a bit safer for now, in terms of ensuring that the stabilizer effort either makes a profit for the DHF or breaks even.
100% beneficiary to hbdstabilizer