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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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SSRN Electronic Journal, 2019
This papers aims to provide an understandable survey of 'stablecoins'---cryptocurrencies designed to have lower volatility than Bitcoin or Ether. We distil the stability mechanisms into a set of primitives and precisely analyze why they are thought to adjust exchange rates, what assumptions they are based on, and what risks still exist. Stablecoins are
Jeremy Clark +2 more
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This papers aims to provide an understandable survey of 'stablecoins'---cryptocurrencies designed to have lower volatility than Bitcoin or Ether. We distil the stability mechanisms into a set of primitives and precisely analyze why they are thought to adjust exchange rates, what assumptions they are based on, and what risks still exist. Stablecoins are
Jeremy Clark +2 more
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Mathematical Finance
AbstractExisting cryptocurrencies are too volatile to be used as currencies for daily payments. Stablecoins, which are cryptocurrencies pegged to other stable financial assets such as the US dollar, are desirable for payments within blockchain networks, whereby being often called the “Holy Grail of cryptocurrency.” By using the option pricing theory ...
Yizhou Cao +4 more
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AbstractExisting cryptocurrencies are too volatile to be used as currencies for daily payments. Stablecoins, which are cryptocurrencies pegged to other stable financial assets such as the US dollar, are desirable for payments within blockchain networks, whereby being often called the “Holy Grail of cryptocurrency.” By using the option pricing theory ...
Yizhou Cao +4 more
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A Note On Stablecoin – Anti-Stablecoin Asymmetry
SSRN Electronic Journal, 2022openaire +1 more source
Decentralized Stablecoin Design
SSRN Electronic Journal, 2022Ben Charoenwong +2 more
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Stablecoins: Does Design Affect Stability?
Finance Research Letters, 2022Gregory Gadzinski +2 more
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