# kaal:claim:5454054-007

**Claim.** LER adapts DeFi liquid staking to e-commerce by paying consumptive utilities instead of speculative yields, and it is this substitution of consumption for yield that mitigates volatility risk.

**Type.** mechanism  **Support.** argued

**Holds when.**

- rewards redeemable only within merchant ecosystems

**Source quote.**

> This LER mechanism derives in part from DeFi liquid staking, where users earn yields without sacrificing tradability of the underlying asset, but LER adapts it to e-commerce ecosystems by focusing on consumptive utilities rather than speculative yields, thus mitigating volatility risks.

**From.** Wulf A. Kaal, *Liquid Equity Rewards* (2025), Optimizing Benefits for Consumers, page 11

**Cite as.** Wulf A. Kaal, Liquid Equity Rewards (2025). SSRN: https://ssrn.com/abstract=5454054

**Verify.** sha256 of source PDF `9f53a865e6f0e5424640779df8f9b50923cd7d05649301dd4cc727144749b6e6` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202025%20-%20Liquid%20Equity%20Rewards.pdf

**Topics.** defi

**Keywords.** liquid-staking, defi, consumptive-utility, volatility, loyalty-programs

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