kaal:claim:3402701-007

Good governance principles are crucial to every aspect of a long-term stable currency because markets inevitably change and because the Folk Theorems of game theory pose a fundamental obstacle to any fixed protocol.

Most importantly, good governance principles are crucial for every aspect of instituting any long-term stable currency due to inevitable changes in the market and the fundamental obstacle represented by the Folk Theorems of game theory

Craig Calcaterra, Wulf A. Kaal, Vadhindran K. Rao, Stable Cryptocurrencies - First Order Principles (2019), 3 FIRST ORDER PRINCIPLES FOR STABLE CRYPTOCURRENCIES, p. 15
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

• long-term stable currency designs

conditionsupport: arguedgovernance-design

• extended_by kaal:claim:3782210-022 Because eternally perfect protocols are impossible, as illustrated by Arrow's Impossibility Theorem and the Fo...
• extended_by kaal:claim:3782193-011 No set of written rules can be made complete: the Folk Theorems demonstrate that however rules are written, st...
• supported_by kaal:claim:3406323-040 For any static set of rules in an infinitely repeated game using reputation stakes there is a way to subvert t...

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