So I guess div could go lower if BTC stays at this level
If the investment vehicle being used continues to pay consistently, and the fiat-USD conversion stays consistent, the dividend will stay consistent. The price people are willing to sell the bond for is irrelevant, because it doesn't change the initial amount invested. When new bonds are issued, they are issued at .1, so no new bonds are being issued, but new bonds aren't necessary to maintain the dividend (except in a ponzi, but opinions about that are not relevant to how this bond allegedly works). The benefit to new bonds before was that they were buying more USD because the conversion rate was going up. The bond could stay this low and the dividend could come back up if the investment vehicle continues to pay consistently and the fiat-BTC conversion rate drops. Technically, the dividend could go up if the investment vehicly paid less while the fiat-USD rate dropped more, or it could go down while the investment vehicle pays more if the fiat-USD rate climbs as well.
Summary: The fiat-BTC conversion rate staying consistent would remove it as a factor on dividend rates, not lower them.