Finite generation for valuations computing stability thresholds and applications to K-stability (Q2171417)

In this important paper, the authors prove several fundamental results in the algebro-geometric study of the K-stability of Fano varieties. Their main result is to prove the higher rank finite generation conjecture: If \((X,\Delta)\) is a \(n\)-dimensional log Fano pair, \(r\) is an integer such that \(r(K_X+\Delta)\) is Cartier, the \(\delta\) invariant satisfies \(\delta(X,\Delta)< \frac{n+1}n\), and \(v\) is a valuation computing \(\delta(X,\Delta)\), then the associated graded ring \(\mathrm{gr}_v(R)\) is finitely generated, where \(R=\bigoplus_{k\geq 0}H^0(X,-kr(K_X+\Delta))\). The authors then deduce several important consequences including the following. The optimal destabilization conjecture: If \((X,\Delta)\) is a \(n\)-dimensional log Fano pair and \(\delta(X,\Delta)< \frac{n+1}n\), then \(\delta(X,\Delta)\) is rational and there exists a divisorial valuation \(E\) over \(X\) such that \(\delta(X,\Delta)= \frac{A_{X,\Delta }(E)} {S_{X,\Delta }(E)}\). In particular, if \(\delta(X,\Delta)\leq 1\), then there exists a non-trivial special test configuration \((\mathcal X , \Delta_{\mathcal X } )\) with central fiber \((X_0, \Delta _0)\) such that \(\delta(X,\Delta)= \delta(X_0,\Delta_0)\), and \(\delta(X_0,\Delta_0)\) is computed by the \(\mathbb G _m\)-action induced by the test configuration structure. The properness and projectivity of K-moduli spaces: The K-moduli space \(M^{\mathrm{Kps}}_{n,V,C}\) is proper, and the CM line bundle on \(M^{\mathrm{Kps}}_{n,V,C}\) is ample. Here \(M^{\mathrm{Kps}}_{n,V,C}\) parametrizes K-polystable log Fano pairs \((X,\Delta)\) of dimension \(n\), and volume \(V\), such that \(C\cdot \Delta\) is integral. The Yau-Tian-Donaldson conjecture holds for general (possibly singular) log Fano pairs.