# kaal:claim:3782216-027

**Claim.** A decentralized economy requires stable cryptocurrencies, because renegotiating contracts every time a currency's value changes is inefficient and continually punishes one of the parties.

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

**Holds when.**

- absent stablecoins

**Source quote.**

> Renegotiating contracts each time the value of a currency changes is inefficient, and continually punishes one of the parties. The economy should not be founded on gambling, so any future decentralized economy requires stable cryptocurrencies.

**From.** Craig Calcaterra, Wulf A. Kaal, *Decentralized Finance (DeFi)* (2021), Stablecoins

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

**Verify.** sha256 of source PDF `f1739743aa06bbc1641cd65da790d531b69d8628ea3f5cc3fcad1bf5a1242373` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Calcaterra%20and%20Kaal%20-%202021%20-%20Decentralized%20Finance%20%28DeFi%29.pdf

**Topics.** tokenomics

**Keywords.** stablecoins, volatility, contracts, monetary-stability

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