You are sugesting to exclude the HBD supply in the DHF from the virtual HIVE supply, and calculate the debt in that way?
No, the debt limit gives us the maximum collateral that could be used to back up the value of HBD. Currently, the Hive supply is around 399 million, given the 30% debt limit that amounts to 171 million HIVE.
The true debt ratio is equal to the circulating HBD (denominated in HIVE at the feed price) divided by the potential supply which is equal to the current supply divided by 0.7 (1 minus the debt limit).
The change I would like to see is to exclude the HBD in the DHF from the virtual supply since it is not even currently counted for the debt ratio. It doesn't make sense to me that we left that piece of the code unchanged. It's like comparing apples to oranges.