# Basis

`kaal:entity:basis`

**Status.** derived

This node is assembled mechanically from the 4 claims that carry the concept tag `basis`. It is a roster of what the corpus says under this term. It is **not** an adjudicated definition: no single statement here has been ruled canonical, and no first-appearance call has been made. Read the claims and judge for yourself.

## Every claim under this term

4 claims across 2 works, 2019 to 2019.

**2019**

- [3396522-013](https://wulfkaal.github.io/claims/3396522-013) [failure/asserted] *(failure mode)* -- No uncollateralized algorithmic stable cryptocurrency, such as Basis or NuBits, had produced a provably stable mechanism for its tokens as of the time of writing.
  > At the time of this writing no uncollateralized algorithmic project had created a provable stable mechanism for its tokens.
  Craig Calcaterra, Wulf A. Kaal, Vadhindran K. Rao, Stable Cryptocurrencies (2019). SSRN: https://ssrn.com/abstract=3396522
- [3402701-005](https://wulfkaal.github.io/claims/3402701-005) [empirical/asserted] *(failure mode)* -- As of the time of writing, no uncollateralized algorithmic stable cryptocurrency project had produced a provably stable mechanism for its tokens.
  > At the time of this writing no uncollateralized algorithmic project had created a provable stable mechanism for its tokens
  Craig Calcaterra, Wulf A. Kaal, Vadhindran K. Rao, Stable Cryptocurrencies - First Order Principles (2019). SSRN: https://ssrn.com/abstract=3402701
- [3402701-010](https://wulfkaal.github.io/claims/3402701-010) [failure/argued] *(failure mode)* -- Distributing newly minted coins to shareholders, as Basis planned, is exploitable: shareholders can collude to hold their new money and drive the price up, which triggers further minting that benefits the colluders.
  > However, it is possible the shareholders would collude to drive the price up by holding their new money
  Craig Calcaterra, Wulf A. Kaal, Vadhindran K. Rao, Stable Cryptocurrencies - First Order Principles (2019). SSRN: https://ssrn.com/abstract=3402701
- [3402701-014](https://wulfkaal.github.io/claims/3402701-014) [failure/evidenced] *(failure mode)* -- A Basis-style bond scheme succeeds only while demand for the currency grows at a sufficient rate; the authors' simulations show it fails when demand is stagnant at equilibrium.
  > According to our simulations, this scheme will succeed as long as demand for the currency is growing at a sufficient rate, but it will fail if the demand is stagnant at equilibrium
  Craig Calcaterra, Wulf A. Kaal, Vadhindran K. Rao, Stable Cryptocurrencies - First Order Principles (2019). SSRN: https://ssrn.com/abstract=3402701

## Verify

Every claim above resolves to a record carrying a verbatim source quote, the sha256 of the source PDF, and a preformatted citation. Nothing here asks to be taken on trust.

    curl -s https://wulfkaal.github.io/entities/basis.md | sha256sum

**Canonical form.** This markdown file is the canonical hashed representation of this entity node. Its sha256 is the content hash.