I have been thinking about it, and I believe I have a solution for how to handle the coinswap that is very different from the idea coins101 originally put forward but solves all the problems we have already discussed (and a few we haven't). Burn the SPR. Hear me out....
What do you see happening to the price of HLM the moment it launches? EPIC CRASH. It will never be able to sustain the marketcap it establishes for itself before the economic fork. Long time SPR holders (and even the new investors who are able to dump their SPR to recoup their BTC) will have no skin in the game when it comes to HLM. They are free coins to them.
I would have thought the same thing, then I participated in the byteball miracle. That's the one where they gave away byteball to bitcoin holders by doing a snapshot, and the price rose nearly to $100 anyways. Still sitting over $50.
As long as HLM is a credible project, I don't see why it can't do the same.