Related papers: Measuring Asset Composability as a Proxy for DeFi …
The use of blockchains for automated and adversarial trading has become commonplace. However, due to the transparent nature of blockchains, an adversary is able to observe any pending, not-yet-mined transactions, along with their execution…
Model-based Systems Engineering (MBSE) has been widely utilized to formalize system artifacts and facilitate their development throughout the entire lifecycle. During complex system development, MBSE models need to be frequently exchanged…
Security bugs and trapdoors in smart contracts have been impacting the Ethereum community since its inception. Conceptually, the 1.45-million Ethereum's contracts form a single "gigantic program" whose behaviors are determined by the…
Transaction privacy is a hard problem on an account-based blockchain such as Ethereum. While Ben-Sasson et al. presented the Zerocash protocol [BCG+14] as a decentralized anonymous payment (DAP) scheme standing on top of Bitcoin, no study…
The cryptocurrency Ethereum is the most widely used execution platform for smart contracts. Smart contracts are distributed applications, which govern financial assets and, hence, can implement advanced financial instruments, such as…
Automated Market Maker (AMM)-based Decentralized Exchanges (DEXs) are crucial in Decentralized Finance (DeFi), but Ethereum implementations suffer from high transaction costs and price synchronization challenges. To address these…
Yield aggregators are financial services in Decentralised Finance (DeFi) providing automated investment management and return optimisation for users. In this study, we investigate the operational mechanisms and monetary flows of two major…
The Blockchain and the programs running on it, called Smart Contracts, are more and more applied in all fields requiring trust and strong certifications. In this work we compare public and permissioned blockchains for industrial…
Zero-Liquidation loans allow DeFi users to borrow USDC against their ETH holdings, but without the risk of being liquidated in case of LTV shortfalls. This is achieved by giving users the option to repay their loans, either in USDC or…
The decentralized finance (DeFi) community has grown rapidly in recent years, pushed forward by cryptocurrency enthusiasts interested in the vast untapped potential of new markets. The surge in popularity of cryptocurrency has ushered in a…
The widespread lack of broad source code verification on blockchain explorers such as Etherscan, where despite 78,047,845 smart contracts deployed on Ethereum (as of May 26, 2025), a mere 767,520 (< 1%) are open source, presents a severe…
A smart contract that is deployed to a blockchain system like Ethereum is, under reasonable circumstances, expected to be immutable and tamper-proof. This is both a feature (promoting integrity and transparency) and a bug (preventing…
Stablecoins have become a foundational component of the digital asset ecosystem, with their market capitalization exceeding 230 billion USD as of May 2025. As fiat-referenced and programmable assets, stablecoins provide low-latency,…
As cross-chain interoperability advances, decentralized finance (DeFi) protocols enable illicit funds to be reorganized into uniform liquid assets that flow throughout the cryptocurrency market. Such operations can bypass monitoring…
The tokenization of assets deployed to distributed ledger technology is increasingly cited to revolutionize financial services by allowing traditionally illiquid assets to be bought and sold on primary and secondary markets increasing asset…
With the rapid development of blockchain technology in recent years, all kinds of blockchain-based applications have emerged. Among them, the decentralized finance (DeFi) is one of the most successful applications, which is regarded as the…
Non-Fungible Tokens (NFTs), digital certificates of ownership for virtual art, have until recently been traded on a highly lucrative and speculative market. Yet, an emergence of misconceptions, along with a sustained market downtime, are…
Blockchain introduces decentralized trust in peer-to-peer networks, advancing security and democratizing systems. Yet, a unified definition for decentralization remains elusive. Our Systematization of Knowledge (SoK) seeks to bridge this…
Due to the widespread use of smart contracts, Ethereum has become the second-largest blockchain platform after Bitcoin. Many different types of Ethereum accounts (ICO, Mining, Gambling, etc.) also have quite active trading activities on…
This paper discusses a decentralized finance (DeFi) application called MakerDAO. The Maker Protocol, built on the Ethereum blockchain, enables users to create and hold currency. Current elements of the Maker Protocol are the Dai stable…