From 67c03e0e2e2c679af521c9851397c504443f14e9 Mon Sep 17 00:00:00 2001
From: Chen Yang <yc4646@gmail.com>
Date: Fri, 30 Aug 2024 11:06:44 +0800
Subject: [PATCH] Added stablecoin article link.

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@@ -125,7 +125,7 @@ Stochastic Control; Portfolio Selection; Asset Pricing; Market Frictions; Market
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     <li>Designing Stablecoins (with <a href="https://www.linkedin.com/in/yizhoucao/" target="_blank">Yizhou Cao</a>, <a href="https://sites.google.com/view/mindai/home" target="_blank">Min Dai</a>, <a href="https://www.bu.edu/questrom/profile/steven-kou/" target="_blank">Steven Kou</a> and <a href="https://www.linkedin.com/in/lewei-li/" target="_blank">Lewei Li</a>).<br>
-        <i><b>Mathematical Finance</b>, forthcoming</i>. [<a href="" onclick="toggleAbstract('abs_StableCoin');return false">Abstract</a>|<a href="https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3856569" target="_blank">SSRN</a>]<br>
+        <i><b>Mathematical Finance</b>, forthcoming</i>. [<a href="" onclick="toggleAbstract('abs_StableCoin');return false">Abstract</a>|<a href="https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3856569" target="_blank">SSRN</a>|<a href="https://doi.org/10.1111/mafi.12445" target="_blank">Article</a>]<br>
         <div style="display:none" id="abs_StableCoin">
         <hr> 
         <i>Stable coins, which are cryptocurrencies pegged to other stable financial assets such as U.S. dollar, are desirable for payments within blockchain networks, whereby being often called the “Holy Grail of cryptocurrency.” However, existing cryptocurrencies are too volatile for these purposes. By using the option pricing theory, we design several dual-class structures that offer a fixed income crypto asset, a stable coin pegged to a traditional currency, and leveraged investment instruments. To understand the impact of the proposed coins on the speculative and non-speculative demands of cryptocurrencies, we study equilibrium with and without the stable coins. Our investigation of the values of stable coins in presence of jump risk and black-swan type events shows the robustness of the design.</i>