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Game Theory

The Quantland ecosystem can be thought of as a simultaneous game with actions below:
  • Stake : Stakers receive staking rewards in QLT and airdrops in USDC.
  • Mint : Minters contribute stablecoins to the treasury when they mint new QLT. The growth of treasury’s deployed investment capital increases QLT’s fundamental value in the long run.
  • Buy : Buying increases QLT price.
  • Sell : Selling decreases QLT price.
Based on the above analysis, we can assign the payoffs of each action:
  • Stake : +0 for QLT holders; +1 for the staker himself.
  • Mint : +1 for QLT holders; +0 for the minter himself.
  • Buy : +1 for QLT holders; +0 for the buyer himself.
  • Sell : -1 for QLT holders; +0 for the seller himself.
​The only Nash equilibrium is when for all players keep “staking,” as shown in the table below: