kaal:claim:3396542-013

A breach occurs only when the underwriters concerned believe that the value of their encumbered tokens is less than the payment they would have to make in order to reclaim those tokens.

Source quote, verbatim

Under what circumstances would a breach occur? It would occur only if the underwriters concerned believed that the value of these tokens is less than the payment they need to make in order to reclaim the tokens.

From

Craig Calcaterra, Wulf A. Kaal, Vadhindran K. Rao, Decentralized Underwriting (2019), II. The Design of the Underwriting DAO, p. 6
https://ssrn.com/abstract=3396542 · source PDF

Cite as

Craig Calcaterra, Wulf A. Kaal, Vadhindran K. Rao, Decentralized Underwriting (2019). SSRN: https://ssrn.com/abstract=3396542

Classification

failuresupport: arguedfailure: Strategic breach when token value falls below claimfamily: staking-and-incentive-misalignmenttokenomicseconomicsdao

Related claims

restated_by kaal:claim:3782216-017 In the Underwriting DAO a breach occurs only when the market values the encumbered reputation tokens at less t...

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