Pralhad Deshpande
Aug 31, 2018 · 1 min read

I think there are subtle but important differences between illiquid assets and stakes locked inside a smart contract. First, illiquid assets are tradeable. Second, there is the possibility of paying a penalty p and dissolving a BondCoin into a CashCoin. They are distinct financial instruments that will have their own price based on expectations of returns. So there is definitely a qualitative difference.

About the last image; having the axes grow in the same direction adds more lines to the figure and makes it more difficult to explain in my opinion. But I could be wrong. If you could show me a representative image that would help.

    Pralhad Deshpande

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