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And can't be accessed without a hard fork. I think it is going to be converted to HBD over time according to what I read, and its dispersal will be voted on from the proposal system.

it's now in the HiveFund, Proposal System..

So in my understanding the big stakeholder have it now..

I suppose if you want to view the proposal system as a slush fund for the big stakeholders.

as it is designed with the return proposal, yes

biggest stakes win