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RE: Will HERO work? Or, can you brute-force the free market?
HERO success depends of many factors: USD inflation, price of bitshares and other cryptocurrencies, HERO demand... It must have really strong and flexible mechanisms in order to be stable. For example transaction fees varying with the currency price.
I agree that a 5% is too much and the should try a lower rate to be sure, maybe a 2%.
Well, my point is that the market will set whatever rate it wants; I expect 2% to be about right. HERO can't pay more than 5%, but it can easily pay less and the market will set that lower rate.