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  "text": "Because unnoticed theft exits disguised as honest departure, release-clock discrimination helps only above a filing-coverage floor that rises as matches lengthen; with positive carry it exceeds one in the strict long-match limit, where no feasible filing rate produces a positive marginal escrow effect.",
  "author": {
    "@type": "Person",
    "name": "Wulf A. Kaal",
    "identifier": "https://orcid.org/0009-0008-7840-1847"
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  "citation": "Wulf A. Kaal, Refundable Stake Does Not Expand Deterrent Capacity in Long-Lived Delegation: Collateral, Premia, and Pseudonymous Markets (2026). SSRN: https://ssrn.com/abstract=7322599",
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    "name": "Refundable Stake Does Not Expand Deterrent Capacity in Long-Lived Delegation: Collateral, Premia, and Pseudonymous Markets",
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  "abstract": "A necessary condition for the wedge to help at all is \u03c6 > 1 \u2212 \u03bbeA; the exact su\ufb00icient condition at the ideal corner is (10). As matches lengthen the filing requirement rises; with positive carry it exceeds one in the strict long-match limit, so no feasible filing rate produces a positive marginal escrow effect there.",
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        "release clocks that discriminate by claim status"
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