# kaal:claim:4015908-032

**Claim.** Liquidity mining, one of the dominant mechanisms used for fair launches, undermines fairness because it leads those who already have more liquidity or assets to benefit disproportionally from the protocol.

**Type.** failure  **Support.** argued

**Holds when.**

- fair launch distributes rewards through liquidity mining

**Source quote.**

> However, liquidity mining leads those who have more liquidity/assets to disproportionally benefit from the fair launch liquidity mining protocol.

**From.** Wulf A. Kaal, *Fair Token Launch* (2022), IV.1 Liquidity Mining, page 15

**Cite as.** Wulf A. Kaal, Fair Token Launch (2022). SSRN: https://ssrn.com/abstract=4015908

**Verify.** sha256 of source PDF `e0925afde0c42a16cd5310983789fae3eb3d1f121e2954a72afa64191d00fe37` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202022%20-%20Fair%20Token%20Launch.pdf

**Failure mode.** Liquidity mining regressivity  (family: inequality-and-access-divide)

**Topics.** defi

**Keywords.** liquidity-mining, defi, wealth-concentration, fair-launch, yield

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