kaal:claim:3782216-008

Liquidity has always been a problem on decentralized exchanges because meaningful history and reputation cannot form where there is little or no governance structure, no insurance, no appeals process and no reputable decentralized news service.

But liquidity has always been a problem in decentralized exchanges, as meaning- ful history and reputation are difficult to achieve when there is little to no governance structure, no insurance, no appeals process, and no reputable decentralized news ser- vice

Craig Calcaterra, Wulf A. Kaal, Decentralized Finance (DeFi) (2021), Banking and ZKRollups
https://ssrn.com/abstract=3782216 · source PDF

Craig Calcaterra, Wulf A. Kaal, Decentralized Finance (DeFi) (2021). SSRN: https://ssrn.com/abstract=3782216

failuresupport: arguedfailure: DEX liquidity deficitfamily: liquidity-and-market-structure-failuredefireputationgovernance-design

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