kaal:claim:3402701-002

Fiat currency collateralization is expensive and inefficient because the entire backing value must be held liquid; anything less opens arbitrage attacks of the kind Soros used against the Bank of England.

Fiat currency collateralization is expensive and inefficient because all of the value that is backing the cryptocurrency needs to be liquid, otherwise arbitrage opportunities, such as the Soros attack, are possible

Craig Calcaterra, Wulf A. Kaal, Vadhindran K. Rao, Stable Cryptocurrencies - First Order Principles (2019), 1 INTRODUCTION, p. 6
https://ssrn.com/abstract=3402701 · source PDF

Craig Calcaterra, Wulf A. Kaal, Vadhindran K. Rao, Stable Cryptocurrencies - First Order Principles (2019). SSRN: https://ssrn.com/abstract=3402701

• fiat-backed pegs claiming full collateralization

mechanismsupport: arguedfailure: soros-style-peg-arbitragefamily: valuation-and-pricing-failuredeficonsensus-and-security

• restates kaal:claim:3396522-010 Fiat currency collateralization is expensive and inefficient because the entire backing value must be held liq...
• extends kaal:claim:3396522-009 A fiat backed stable cryptocurrency that is not fully collateralized is exposed to arbitrage trade attacks of ...

The quote above is an exact substring of the source PDF, whose sha256 is 72ed2581b4cac2bd18a5b2640be959487a3cbc34c86ab5e5664924bcdb53c8e0. Extraction method: pdf-text-layer.
Attestation record: colloquium/attestations/c2d8a7eff9d07a2e...json
Verify the binding yourself: curl -s https://wulfkaal.github.io/claims/3402701-002.md | sha256sum

• Qualification: Integrating LLM-based modeling assistants into Capella: experiments and architectural tradeoffs