稳定币跑路与套利中心化(英)
聚焦稳定币跑路与套利中心化(英)。secondary-market prices more, discouraging other investors from selling. We thus highlight a new tradeoff faced by stablecoin issuers: by choosing how concentrated arbitrage is, issuers trade off the benefits of arbitrage to price stability with the costs from increased run risk.