Leverage and Stablecoin Pegs
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Money is debt that circulates with no questions asked. Stablecoins are a new form of private money that circulate with many questions asked. We show how stablecoins can maintain a constant price even though they face run risk and pay no interest. Stablecoin holders are indirectly compensated for
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美国国家经济研究局创建时间：
2022-12-01
