Understanding Optimal Swap Behavior for Mempool Transactions
Decentralized exchanges (DEXs) are one of the core foundations of DeFi, facilitating billions of dollars in daily transactions. One would expect that such a critical and battle-tes...
May 23 2023 _ 3 min read
Statistical Attacks on Proof of Solvency
In theory, for Proof of Solvency to bind on crypto exchanges, only a handful of random checks are needed. But in practice, exchanges can predict which consumers are likely to check...
Dec 21 2022 _ 15 min read
Token Delegation with Lock-Ups
Token delegation contracts may want to use explicit lock-up periods, to give delegates more independence in making crypto governance decisions. We demonstrate using the Maker contr...
Oct 17 2022 _ 9 min read
So You Still Want to Use a Price Oracle
To provide accurate and timely data, price oracles should align incentives with data publishers, i.e. make them "stake" collateral, reputation, and trading capital.
Aug 30 2022 _ 14 min read
Paradigms for On-Chain Credit
Since the massive explosion of DeFi activity and innovation in mid-2020, decentralized lending has become a core pillar of the emerging on-chain financial system.
Aug 22 2022 _ 23 min read
Token Design for Serious People
Tokenomics should: (i) provide common goods that couldn't be provided individually, and (ii) reward those who create value rather than extract or transfer value. This piece uses th...
Jul 07 2022 _ 17 min read
DERPs: Decentralized Reinsurance Pools
We introduce decentralized reinsurance pools (DERPs) to enhance the crypto insurance landscape. DERPs are pools of capital that underwrite retail-facing insurance pools and are man...
Jun 21 2022 _ 6 min read
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