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For a deeper look into stablecoin mechanism and performance of them during May 2022 event, I would recommend [1] which I think is much more interesting for curi
by yoquan 4y ago
For a deeper look into stablecoin mechanism and performance of them during May 2022 event, I would recommend [1] which I think is much more interesting for curious readers.
[1] https://www.fdic.gov/analysis/cfr/bank-research-conference/annual-21st/papers/davernas-paper.pdf https://www.fdic.gov/analysis/cfr/bank-research-conference/a...
- junofan 4y agoThe modeling of convenience yield looks way off. Some actors get way more utility; there’s an impact cost to purchasing large amounts; bounding utility by r makes no sense in real-world markets.