Research: Stablecoins may have a "critical threshold" for decoupling, and severe narrative shocks can trigger panic selling

The Research Institute of Financial Technology at Renmin University published a compiled article on stablecoin research in the Journal of International Money and Finance. The related research is based on large language model (LLM) agents analyzing the de-pegging risks of stablecoins, which indicates that the de-pegging of stablecoins has significant nonlinear and threshold characteristics. The arbitrage mechanism can absorb a certain degree of informational pressure, but when the severity of the narrative reaches a "critical threshold," the system may quickly enter a state of sustained de-pegging.