kaal:claim:3402701-032

The day-to-day stability mechanism can be fully automated by algorithm, but monetary and fiscal policy choices cannot be: the algorithm's parameters must be chosen by hand and adjusted regularly to balance security against efficiency.

Source quote, verbatim

However, monetary and fiscal policy choices cannot be fully automated. The parameters for the algorithm must be chosen by hand and adjusted regularly to balance security with maximal efficiency in response to network performance

From

Craig Calcaterra, Wulf A. Kaal, Vadhindran K. Rao, Stable Cryptocurrencies - First Order Principles (2019), 3.4.1 Features Subject to Monetary and Fiscal Policy, p. 25
https://ssrn.com/abstract=3402701 · source PDF

Cite as

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

Holds when

stability mechanisms operating in changing markets

Classification

conditionsupport: arguedfailure: limits-of-full-automationfamily: smart-contract-rigiditygovernance-designtokenomics

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