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This study explores Stablecoins, cryptocurrencies pegged to assets like the US dollar for price stability. It examines mechanisms achieving this stability and the role Stablecoins play in the market, highlighting their informative market capitalization despite low volatility and their surprising lack of correlation with other cryptocurrencies.
Ardit Vehapi, Elhan Tafiili
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Ardit Vehapi, Elhan Tafiili
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The European Journal of Finance, 2020
This paper analyzes the stability of stablecoins and proposes a framework to test for absolute and relative stability of stablecoins.
Lai T. Hoang, Dirk G. Baur
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This paper analyzes the stability of stablecoins and proposes a framework to test for absolute and relative stability of stablecoins.
Lai T. Hoang, Dirk G. Baur
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Stablecoin Assessment Framework
2021"Les émissions de cryptomonnaies stables (stablecoins) et d’autres cryptomonnaies continuent d’augmenter. Il est donc important d’évaluer les risques que ces innovations présentent pour le système financier. Toutefois, étant donné la nouveauté des cryptomonnaies stables, les autorités se posent encore des questions sur la façon de les analyser et les ...
García, Alejandro +2 more
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Simulating the MakerDAO Stablecoin
2021 IEEE International Conference on Blockchain and Cryptocurrency (ICBC), 2021We present a computational simulation framework for the single-collateral stablecoin launched by the MakerDAO project. The simulator, called DAISIM, models investors as portfolio optimizers with heterogeneous risk preferences, and incorporates automated order matching and price update mechanisms to determine the DAI price.
Shreyas Bhat +3 more
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FEDS Notes, 2022
Stablecoins have garnered much attention as a key part of the emerging decentralized finance ("DeFi") ecosystem, and as a potential way to pay for goods and services. Stablecoins facilitate trades on crypto exchanges, serve as the underlying asset for many crypto loans, and allow market participants to avoid inefficiencies stemming from converting back
Garth Baughman +3 more
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Stablecoins have garnered much attention as a key part of the emerging decentralized finance ("DeFi") ecosystem, and as a potential way to pay for goods and services. Stablecoins facilitate trades on crypto exchanges, serve as the underlying asset for many crypto loans, and allow market participants to avoid inefficiencies stemming from converting back
Garth Baughman +3 more
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Stablecoins: New perspectives for travel and tourism
Annals of Tourism ResearchExisting research has not fully delved into stablecoins' role in the travel and tourism sector. Our study uniquely explores their practical uses in this sector, showcasing their benefits in streamlining payments, cutting costs, and fostering sustainable ...
Viktor Manahov
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Stablecoins: Adoption and Fragility
SSRN Electronic Journal, 2023Stablecoins promise a stable and secure way to park funds in the crypto universe. However, stablecoin issuers are vulnerable to runs triggered by negative information about the quality and liquidity of their reserves, as well as custodial, operational, and technological risks.
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Intelligent Systems in Accounting, Finance and Management, 2023
SummaryWild price fluctuations of cryptocurrencies make it difficult for investors to maintain stable asset values. This study investigates the hedging properties of US dollar (USD)‐pegged stablecoins against bitcoin returns. We analyzed the hedging abilities of the three largest stablecoins—namely, Tether, USD Coin, and Binance USD—using the dynamic ...
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SummaryWild price fluctuations of cryptocurrencies make it difficult for investors to maintain stable asset values. This study investigates the hedging properties of US dollar (USD)‐pegged stablecoins against bitcoin returns. We analyzed the hedging abilities of the three largest stablecoins—namely, Tether, USD Coin, and Binance USD—using the dynamic ...
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SSRN Electronic Journal, 2021
We propose a theoretical framework to understand the price stability mechanism of stablecoins. With the model, we identify three sources of price instability that form a trilemma. The trilemma suggests that any stablecoin design can avoid at most two of all the following risks: (1) downward price instability due to moral hazards of the operating entity,
Yujin Kwon +3 more
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We propose a theoretical framework to understand the price stability mechanism of stablecoins. With the model, we identify three sources of price instability that form a trilemma. The trilemma suggests that any stablecoin design can avoid at most two of all the following risks: (1) downward price instability due to moral hazards of the operating entity,
Yujin Kwon +3 more
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WiSt - Wirtschaftswissenschaftliches Studium, 2023
Als innovatives Instrument zur Portfoliodiversifikation finden Stablecoins zunehmend Anklang am Kryptowährungsmarkt. Insbesondere Anlegern, welche die hohe Volatilität von Kryptowährungen scheuen, versprechen sie eine vermeintlich sichere Kapitalanlage durch einen stabilen Marktpreis.
Alexander Baumeister, Sascha Hägele
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Als innovatives Instrument zur Portfoliodiversifikation finden Stablecoins zunehmend Anklang am Kryptowährungsmarkt. Insbesondere Anlegern, welche die hohe Volatilität von Kryptowährungen scheuen, versprechen sie eine vermeintlich sichere Kapitalanlage durch einen stabilen Marktpreis.
Alexander Baumeister, Sascha Hägele
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