# kaal:claim:3402701-007

**Claim.** 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.

**Type.** condition  **Support.** argued

**Holds when.**

- long-term stable currency designs

**Source quote.**

> 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

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

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

**Verify.** sha256 of source PDF `72ed2581b4cac2bd18a5b2640be959487a3cbc34c86ab5e5664924bcdb53c8e0` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Calcaterra%20et%20al.%20-%202019%20-%20Stable%20Cryptocurrencies%20-%20First%20Order%20Principles.pdf

**Topics.** governance-design

**Keywords.** governance, folk-theorems, stability-mechanisms, first-order-principles

**Related claims.**

- extended_by: https://wulfkaal.github.io/claims/3782210-022
- extended_by: https://wulfkaal.github.io/claims/3782193-011
- supported_by: https://wulfkaal.github.io/claims/3406323-040

**Canonical form.** This markdown file is the canonical hashed representation of the claim. Its sha256 is the content hash used for attestation.