Stable degenerations of singularities

Source abstract

For any Kawamata log terminal (klt) singularity and any minimizer of its normalized volume function, we prove that the associated graded ring is always finitely generated, as conjectured by Chi Li. As a consequence, we complete the last step of establishing the Stable Degeneration Conjecture proposed by Chi Li and the first named author for an arbitrary klt singularity.