kaal:claim:5583610-007

Traditional corporate loyalty programs fail because they saddle issuers with delayed obligations and cannot hold participants without pushing them toward speculation; LER is designed to avoid both defects.

Source quote, verbatim
It addresses the drawbacks of traditional loyalty programs, which frequently cause businesses to incur delayed obligations and find it difficult to hold onto assets without engaging in hazardous speculation.
From

Wulf A. Kaal, Liquid Equity Rewards in Corporate America (2025), 2.1. How LER Works, p. 6
https://ssrn.com/abstract=5583610 · source PDF

Cite as

Wulf A. Kaal, Liquid Equity Rewards in Corporate America (2025). SSRN: https://ssrn.com/abstract=5583610

Holds when
Classification

failuresupport: assertedfailure: deferred obligation dragfamily: staking-and-incentive-misalignmentinstitutional-design

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