No, the 10% haircut is a point at which the HBD->Hive conversion starts to break down (i.e. you no longer get a full $1 USD worth of Hive after HBD/Hive ratio rises above 10%). As @edicted mentions, a lot of large stakeholders (including myself) believe we should increase the allowed HBD/Hive ratio to allow more HBD to be printed. 20% or 30% seems like the most likely numbers for the next hardfork.
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