Rational Ponzi Games in Algorithmic Stablecoin. (arXiv:2210.11928v1 [cs.GT])

Algorithmic stablecoins (AS) are one special type of stablecoins that are not
backed by any asset (equiv. without collateral). They stand to revolutionize
the way a sovereign fiat operates. As implemented, these coins are poorly
stabilized in most cases, easily deviating from the price target or even
falling into a catastrophic collapse (a.k.a. Death spiral), and are as a result
dismissed as a Ponzi scheme. However, is this the whole picture? In this paper,
we try to reveal the truth …

games stablecoin