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Decentralized finance (DeFi) is revolutionizing the traditional centralized finance paradigm with its attractive features such as high availability, transparency, and tamper-proofing. However, attacks targeting DeFi services have severely…

Software Engineering · Computer Science 2024-04-17 Yepeng Ding , Arthur Gervais , Roger Wattenhofer , Hiroyuki Sato

More than ten years ago the blockchain was acclaimed as the solution to overcome centralised trusted third parties for online payments. Through the years the crypto-movement changed and evolved, although decentralisation remained the core…

This paper presents a comprehensive statistical analysis of the Web3 ecosystem, comparing various Web3 tokens with traditional financial assets across multiple time scales. We examine probability distributions, tail behaviors, and other key…

Statistical Finance · Quantitative Finance 2024-12-09 Wei-Ru Chen , A. Christian Silva , Shen-Ning Tung

Decentralized cryptocurrency exchanges offer compelling security benefits over centralized exchanges: users control their funds and avoid the risk of an exchange hack or malicious operator. However, because user assets are fully accessible…

Cryptography and Security · Computer Science 2021-06-22 Robert Annessi , Ethan Fast

Decentralized Finance (DeFi) money markets have seen explosive growth in recent years, with billions of dollars borrowed in various cryptocurrency assets. Key to the safety of money markets is the implementation of interest rates that…

Risk Management · Quantitative Finance 2024-07-16 Yuval Boneh

Financial speculators often seek to increase their potential gains with leverage. Debt is a popular form of leverage, and with over 39.88B USD of total value locked (TVL), the Decentralized Finance (DeFi) lending markets are thriving.…

General Finance · Quantitative Finance 2021-10-04 Kaihua Qin , Liyi Zhou , Pablo Gamito , Philipp Jovanovic , Arthur Gervais

Decentralized Finance (DeFi), propelled by Blockchain technology, has revolutionized traditional financial systems, improving transparency, reducing costs, and fostering financial inclusion. However, transaction activities in these systems…

Cryptography and Security · Computer Science 2023-12-22 Hou-Wan Long , Xiongfei Zhao , Yain-Whar Si

Decentralized Autonomous Organizations (DAOs) have emerged as a novel governance mechanism in blockchain ecosystems, particularly within Decentralized Finance (DeFi). By enabling token holders to propose and vote on protocol changes, these…

Cryptography and Security · Computer Science 2025-07-22 Johnnatan Messias , Vabuk Pahari , Balakrishnan Chandrasekaran , Krishna P. Gummadi , Patrick Loiseau

As an integral part of the decentralized finance (DeFi) ecosystem, decentralized exchanges (DEXs) with automated market maker (AMM) protocols have gained massive traction with the recently revived interest in blockchain and distributed…

Trading and Market Microstructure · Quantitative Finance 2023-03-16 Jiahua Xu , Krzysztof Paruch , Simon Cousaert , Yebo Feng

Opening up data produced by the Internet of Things (IoT) and mobile devices for public utilization can maximize their economic value. Challenges remain in the trustworthiness of the data sources and the security of the trading process,…

Cryptography and Security · Computer Science 2025-11-25 Yue Li , Ifteher Alom , Wenhai Sun , Yang Xiao

User transactions on Ethereum's peer-to-peer network are at risk of being attacked. The smart contracts building decentralized finance (DeFi) have introduced a new transaction ordering dependency to the Ethereum blockchain. As a result,…

Cryptography and Security · Computer Science 2022-09-23 Lioba Heimbach , Roger Wattenhofer

This whitepaper introduces RIV Coin, a cryptocurrency that is fully stabilized by a diversified portfolio of invested reserves that are evaluated by professional independent third parties, and auditable and provable by the protocol. It is…

General Finance · Quantitative Finance 2025-05-13 Roberto Rivera , Guido Rocco , Massimiliano Marzo , Enrico Talin , Ammar Elsabe

We provide an overview of decentralized protocols like Compound and Aave that offer collateralized loans for cryptoasset investors. Compound and Aave are two of the most important application in the decentralized finance (DeFi) ecosystem.…

General Finance · Quantitative Finance 2021-08-02 Carlos Castro-Iragorri , Julian Ramirez , Sebastian Velez

We present the first formal treatment of \emph{yield tokenization}, a mechanism that decomposes yield-bearing assets into principal and yield components to facilitate risk transfer and price discovery in decentralized finance (DeFi). We…

Theoretical Economics · Economics 2025-08-07 Viraj Nadkarni , Pramod Viswanath

This paper investigates the trade-off between centralized and decentralized security management in constellations of satellites to balance security and performance. We highlight three key AI architectures for automated security management:…

Cryptography and Security · Computer Science 2025-09-26 Noam Schmitt , Marc Antoine Lacoste

Decentralized Exchanges (DEXs) are pivotal applications in the Decentralized Finance (DeFi) landscape, aiming to facilitate trustless cryptocurrency trading by relying on smart contracts and blockchain networks. The developments in the DEXs…

Computational Engineering, Finance, and Science · Computer Science 2024-11-05 Mohammad Ali Asef , Seyed Mojtaba Hosseini Bamakan

The Financial system has witnessed rapid technological changes. The rise of Bitcoin and other crypto assets based on Distributed Ledger Technology mark a fundamental change in the way people transact and transmit value over a decentralized…

General Finance · Quantitative Finance 2024-10-02 Arindam Misra

Cross-chain technology enables seamless asset transfer and message-passing within decentralized finance (DeFi) ecosystems, facilitating multi-chain coexistence in the current blockchain environment. However, this development also raises…

Software Engineering · Computer Science 2025-04-03 Dan Lin , Ziye Zheng , Jiajing Wu , Jingjing Yang , Kaixin Lin , Huan Xiao , Bowen Song , Zibin Zheng

Blockchain technology is among the fastest-growing technologies in the world today. It has been adopted in diverse areas but mostly in financial systems, such as Bitcoin cryptocurrency. Therefore, it is a niche that has attracted interest…

Cryptography and Security · Computer Science 2021-06-30 Mabrook S. Al-Rakhami , Abdu Gumaei , Sk. Md. Mizanur Rahman , Atif Al-Amri

While centralized servers pose a risk of being a single point of failure, decentralized approaches like blockchain offer a compelling solution by implementing a consensus mechanism among multiple entities. Merging distributed computing with…

Cryptography and Security · Computer Science 2024-03-29 Ji Liu , Chunlu Chen , Yu Li , Lin Sun , Yulun Song , Jingbo Zhou , Bo Jing , Dejing Dou
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