{
 "@context": "https://schema.org",
 "@type": "DefinedTerm",
 "@id": "https://wulfkaal.github.io/entities/vouchers",
 "identifier": "kaal:entity:vouchers",
 "name": "Vouchers",
 "termCode": "vouchers",
 "inDefinedTermSet": {
  "@id": "https://wulfkaal.github.io/entities/index.json"
 },
 "author": {
  "@type": "Person",
  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0000-0003-0757-275X"
 },
 "dateModified": "2026-07-29",
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   "value": 2
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   "value": [
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 "subjectOf": [
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/5454054-001",
   "identifier": "kaal:claim:5454054-001",
   "text": "Liquid Equity Rewards (LER) is a voucher rewards mechanism that links capital formation to loyalty rewards by granting time-weighted, utility-only rewards to holders of equities or cryptoassets.",
   "abstract": "This article evaluates the prospects of Liquid Equity Rewards (LER), a voucher rewards mechanism linking capital formation and loyalty rewards through time-weighted, utility-only rewards for holders of equities or cryptoassets.",
   "citation": "Wulf A. Kaal, Liquid Equity Rewards (2025). SSRN: https://ssrn.com/abstract=5454054",
   "datePublished": "2025",
   "claim_type": "definitional",
   "confidence": "asserted",
   "is_failure_mode": false,
   "scope_conditions": [],
   "source_pdf_sha256": "9f53a865e6f0e5424640779df8f9b50923cd7d05649301dd4cc727144749b6e6",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/5583610-006",
   "identifier": "kaal:claim:5583610-006",
   "text": "LER is a two-tiered architecture: registered off-chain shareholders receive redeemable vouchers, while on-chain holders receive programmable, non-transferable reward units such as soulbound tokens anchored to specific wallet addresses.",
   "abstract": "LER can be viewed as a clever, two-tiered system that uses blockchain technology to provide shareholders with simple, non-speculative benefits across both regular (off-chain) and tokenized (on-chain) stocks.",
   "citation": "Wulf A. Kaal, Liquid Equity Rewards in Corporate America (2025). SSRN: https://ssrn.com/abstract=5583610",
   "datePublished": "2025",
   "claim_type": "design",
   "confidence": "asserted",
   "is_failure_mode": false,
   "scope_conditions": [
    "off-chain registered equity and on-chain tokenized equity coexist"
   ],
   "source_pdf_sha256": "2d73609d95ddb1573acc2a9e7af617fbe6283d6e591deb6317f6d5d804517c62",
   "status": "current"
  }
 ],
 "description": "2 claims in the published works of Wulf A. Kaal carry the concept tag 'vouchers'. Derived node: a roster, not an adjudicated definition."
}