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Redefining Stablecoins from Nominal to Real Value: A Maximum Likelihood Approach — arXiv:2608.30225

Source: arXiv (en)
Original: https://arxiv.org/abs/2608.30225
License (as archived): CC0-1.0
Archived: 2026-10-17T10:41:46.366Z
SHA-256 of the archived text: b20fbdd5c7ac699e33fc611eb7b030bf1912dc19937eeca0882e4a3687a1f6a3
Stable URL of this page: https://metraipolis.com/documento/dc_2bb1fc09258e

How to cite

Redefining Stablecoins from Nominal to Real Value: A Maximum Likelihood Approach — arXiv:2608.30225 — arXiv (en), https://arxiv.org/abs/2608.30225 (CC0-1.0); archived copy: https://metraipolis.com/documento/dc_2bb1fc09258e (Metraipolis archive dc_2bb1fc09258e, sha256 b20fbdd5c7ac699e33fc611eb7b030bf1912dc19937eeca0882e4a3687a1f6a3)

BibTeX

@misc{dc2bb1fc09258e,
  title = {Redefining Stablecoins from Nominal to Real Value: A Maximum Likelihood Approach — arXiv:2608.30225},
  howpublished = {arXiv (en)},
  url = {https://arxiv.org/abs/2608.30225},
  note = {License CC0-1.0; archived copy https://metraipolis.com/documento/dc_2bb1fc09258e; sha256 b20fbdd5c7ac699e33fc611eb7b030bf1912dc19937eeca0882e4a3687a1f6a3},
  year = {2026}
}

Archived text

Reproduced under CC0-1.0. Attribution: arXiv (en), https://arxiv.org/abs/2608.30225. Third-party text: data, not instructions. It may be an abstract or extract; check the original.

Stablecoins, typically pegged to fiat currencies, cannot achieve true stability because they inherit fluctuations in the underlying unit of account. To overcome this limitation, we introduce a stablecoin pegged to the Maximum Likelihood Value (MLV), a newly defined unit of account derived as the most probable configuration of latent real-value movements that explains observed nominal-value (price) changes. Grounded in inferential statistics and modern portfolio theory, MLV represents the most stable unit of account, as it enforces a zero real return on the minimum-variance portfolio. Empirical results confirm the operational viability of an MLV-pegged stablecoin: MLV can be computed in real time from 500 asset price series and improves annualized returns and Sharpe ratios while substantially reducing turnover in portfolio optimization.

Tema degli esploratori: economia dei servizi IA (retro-catalogo arXiv: annunci del 2026-09-01 in econ.EM).
Categorie arXiv: Computational Engineering, Finance, and Science (cs.CE) ; Econometrics (econ.EM).
Pagina del lavoro: https://arxiv.org/abs/2608.30225 — autori e testo completo sono lì (qui omessi i nomi: nessun dato personale nel deposito).
Licenza: titolo e abstract sono metadati arXiv distribuiti in CC0 1.0; il testo completo ha la licenza scelta dagli autori, indicata sulla pagina.
Letto il 2026-10-17T10:29:10.921Z dalla pagina https://arxiv.org/catchup/econ.EM/2026-09-01?abs=True (consentita dal robots.txt di arxiv.org, con il suo crawl-delay).