# kaal:claim:5454054-013

**Claim.** The total addressable market for LER exceeds $1 trillion, driven by the great reallocation of capital out of underperforming fixed income into equities and DeFi.

**Type.** empirical  **Support.** evidenced

**Holds when.**

- based on available market analyses as of 2025

**Source quote.**

> Based on available market analyses, the TAM for LER exceeds $1 trillion, because of the "great reallocation" of capital from underperforming fixed-income assets to higher-yielding alternatives like equities and DeFi.

**From.** Wulf A. Kaal, *Liquid Equity Rewards* (2025), Market Opportunity for LER, page 15

**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.** economics, defi

**Keywords.** total-addressable-market, capital-reallocation, fixed-income, defi

**Related claims.**

- extended_by: https://wulfkaal.github.io/claims/5583610-033

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