# kaal:claim:5454054-020

**Claim.** For tokenized stocks, smart contracts can verify ownership and holding periods directly from blockchain ledgers and trigger voucher airdrops without intermediaries, which lowers operational costs and increases LER scalability.

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

**Holds when.**

- stocks represented on a blockchain ledger

**Source quote.**

> For tokenized NASDAQ stocks, smart contracts can query blockchain ledgers to verify ownership and holding periods. This triggers voucher reward airdrops without intermediaries. Whic, in turn, reduces operational costs and enhances LER scalability.

**From.** Wulf A. Kaal, *Liquid Equity Rewards* (2025), LER as an Airdrop Mechanism for Dividend-Like Voucher Utilities, page 19

**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.** smart-contracts, decentralization

**Keywords.** smart-contracts, airdrops, disintermediation, ownership-verification

**Related claims.**

- specializes: https://wulfkaal.github.io/claims/5254152-006

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