Abstract:Existing 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 and the Ethereum platform that allows running smart contracts, we design several dual‐class structures that are written on the ETH cryptocurrency and offer a fixed‐income … Show more
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