as an instrument, xBonds seem to be imbalanced currently as it rewards large xBond holders while penalizing smaller xBond holders for the asymptotic reward structure (the amount of USDx you can redeem decreases as you redeem more because your xBond pro-rata ownership decreases).
A solution to this is to balance the 1-1 minting of xBonds during negative rebases with a 1-1 redemption of xBonds for USDx during positive rebases.
Any user now can get at least the amount of USDx they put in, + any seigniorage that occurs during the positive rebase cycle windows.
This positive rebase redemption of xBonds for USDx at a 1-1 ratio would be precluded by a minimum xBond lock window (could be 0 seconds or perhaps 3 weeks). That is a governance parameter decided upon by the community.
This proposal would also include the xBond accrual discussion (so small users can wait multiple cycles to redeem their xBond rewards).
2nd snapshot vote: Snapshot