# kaal:claim:3396522-027

**Claim.** Monetary policy for stable cryptocurrencies should combine hardcoded transparent rules with protocols enabling decentralized autonomous organizations, with decentralized but fully transparent policy DAOs functioning as the policy makers for what cannot be hardcoded.

**Type.** design  **Support.** argued

**Holds when.**

- depends on DAO governance designs that address expertise and incentive problems

**Source quote.**

> monetary policy for cryptocurrencies can additionally be supported by protocols enabling decentralized autonomous organizations (DAOs).152 Decentralized but fully transparent policy DAOs can help function as policy makers.

**From.** Craig Calcaterra, Wulf A. Kaal, Vadhindran K. Rao, *Stable Cryptocurrencies* (2019), IV. Stable Cryptocurrencies, 7. Price Stability, page 38

**Cite as.** Craig Calcaterra, Wulf A. Kaal, Vadhindran K. Rao, Stable Cryptocurrencies (2019). SSRN: https://ssrn.com/abstract=3396522

**Verify.** sha256 of source PDF `ef5031b16aa53476ed618f0bdf92601cd4affb893692c701134bd9cba3ea8acf` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Calcaterra%20et%20al.%20-%202019%20-%20Stable%20Cryptocurrencies.pdf

**Topics.** dao, governance-design, tokenomics, decentralization

**Keywords.** dao, governance, monetary-policy, protocol-design, decentralization

**Related claims.**

- extended_by: https://wulfkaal.github.io/claims/3402701-033

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