# Yield

`kaal:entity:yield`

**Status.** derived

This node is assembled mechanically from the 2 claims that carry the concept tag `yield`. 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 2 works, 2022 to 2025.

**2022**

- [4015908-032](https://wulfkaal.github.io/claims/4015908-032) [failure/argued] *(failure mode)* -- Liquidity mining, one of the dominant mechanisms used for fair launches, undermines fairness because it leads those who already have more liquidity or assets to benefit disproportionally from the protocol.
  > However, liquidity mining leads those who have more liquidity/assets to disproportionally benefit from the fair launch liquidity mining protocol.
  Wulf A. Kaal, Fair Token Launch (2022). SSRN: https://ssrn.com/abstract=4015908

**2025**

- [5454054-026](https://wulfkaal.github.io/claims/5454054-026) [failure/argued] *(failure mode)* -- Any drift toward transferability, voucher redemption at par, yield, or marketplace functionality would push LER into MiCA compliance obligations and, equivalently, into the UK EMR and PSR regimes and U.S. securities, money transmission, and market-structure perimeters.
  > Any perceived gravitation toward transferability, voucher par redemption, yield, or marketplace functionality may push LER into MiCA compliance requirements.
  Wulf A. Kaal, Liquid Equity Rewards (2025). SSRN: https://ssrn.com/abstract=5454054

## 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/yield.md | sha256sum

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