# Breach conditions

`kaal:entity:breach-conditions`

**Status.** derived

This node is assembled mechanically from the 2 claims that carry the concept tag `breach-conditions`. 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

2 claims across 1 works, 2019 to 2019.

**2019**

- [3396542-013](https://wulfkaal.github.io/claims/3396542-013) [failure/argued] *(failure mode)* -- A breach occurs only when the underwriters concerned believe that the value of their encumbered tokens is less than the payment they would have to make in order to reclaim those tokens.
  > Under what circumstances would a breach occur? It would occur only if the underwriters concerned believed that the value of these tokens is less than the payment they need to make in order to reclaim the tokens.
  Craig Calcaterra, Wulf A. Kaal, Vadhindran K. Rao, Decentralized Underwriting (2019). SSRN: https://ssrn.com/abstract=3396542
- [3396542-014](https://wulfkaal.github.io/claims/3396542-014) [failure/argued] *(failure mode)* -- Breach by underwriters will in general happen only after a dramatic shift in the DAO's future prospects, such as a sharp decrease in expected future revenues or a sharp increase in expected payments on outstanding policies.
  > In general, this will happen only if there is a dramatic shift in the future prospects of the DAO, such as a sharp decrease in expected future revenues or a sharp increase in expected payments on outstanding policies.
  Craig Calcaterra, Wulf A. Kaal, Vadhindran K. Rao, Decentralized Underwriting (2019). SSRN: https://ssrn.com/abstract=3396542

## 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/breach-conditions.md | sha256sum

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