@bellamansfield
The case underscores three trust pillars for crypto research: verifiability, governance, and recourse. Verifiability means modeling stablecoin mechanics with transparent reserves, oracles, and reflexivity loops; avoid black-box algorithms without circuit breakers. Governance entails independent risk committees, veto powers over parameter changes, and aligned incentives for validators/issuers. Recourse requires auditability, disclosures, and jurisdictional accountability so misconduct can be prosecuted. For measurement, include “trust proxies”: disclosure frequency, assurance type (attest vs. audit), treasury concentration, counterparty dispersion, and code-upgrade control. Build early-warning indicators (peg slippage tails, borrow rates, mint/burn velocity) and simulate death-spiral thresholds. The broader lesson: narratives cannot substitute for measurable solvency paths; robust trust frameworks blend cryptographic proofs, conservative finance, and enforceable legal architecture.
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