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Why would a blockchain-based startup and its venture capital investors choose to finance by issuing tokens instead of equity? What would be their rates of return for each asset? This paper focuses on the liquidity difference between the two…
In this paper, we consider the problem of hosting financial exchanges in the cloud. Financial exchanges require predictable, equal latency to all market participants to ensure fairness for various tasks, such as high speed trading. However,…
Institutions can provide incentives to increase cooperation behaviour in a population where this behaviour is infrequent. This process is costly, and it is thus important to optimize the overall spending. This problem can be mathematically…
We develop several innovations to bring the best practices of traditional investment funds to the blockchain landscape. Specifically, we illustrate how: 1) fund prices can be updated regularly like mutual funds; 2) performance fees can be…
Decentralised Autonomous Organisations (DAOs) have recently piqued the interest of participants from diverse backgrounds, including business owners, engineers, individual and institutional investors. In part, the promised autonomy (less…
Accountability, the ability to provably identify protocol violators, gained prominence as the main economic argument for the security of proof-of-stake (PoS) protocols. Rollups, the most popular scaling solution for blockchains, typically…
This paper proves continuity of value functions in discounted periodic-review single-commodity total-cost inventory control problems with \revision{continuous inventory levels,} fixed ordering costs, possibly bounded inventory storage…
We model incentive security in non-custodial stablecoins and derive conditions for participation in a stablecoin system across risk absorbers (vaults/CDPs) and holders of governance tokens. We apply option pricing theory to derive closed…
The current situation of COVID-19 demands novel solutions to boost healthcare services and economic growth. A full-fledged solution that can help the government and people retain their normal lifestyle and improve the economy is crucial. By…
In typical black-box optimization applications, the available computational budget is often allocated to a single algorithm, typically chosen based on user preference with limited knowledge about the problem at hand or according to some…
Decentralized Autonomous Organizations (DAOs), based on block-chain systems such as Ethereum, are emerging governance protocols that enable decentralized community management without a central authority. For instance, UniswapDAO allows…
Fairness in AI is traditionally studied as a static property evaluated once, over a fixed dataset. However, real-world AI systems operate sequentially, with outcomes and environments evolving over time. This paper proposes a framework for…
Decentralized autonomous organizations (DAOs) have transformed organizational structures by shifting from traditional hierarchical control to decentralized approaches, leveraging blockchain and cryptoeconomics. Despite managing significant…
Blockchain systems have been a part of mainstream academic research, and a hot topic at that. It has spread to almost every subfield in the computer science literature, as well as economics and finance. Especially in a world where digital…
The world of cryptocurrency is not transparent enough though it was established for innate transparent tracking of capital flows. The most contributing factor is the violation of securities laws and scam in Initial Coin Offering (ICO) which…
Fairness in machine learning is often conceptualized narrowly in comparative, distributional terms. In studying stakeholders' concepts of fairness, we find that this framing is insufficient to capture the full range of issues raised. As an…
This paper introduces Carbon, a high-throughput system enabling asynchronous (safe) and consensus-free (efficient) payments and votes within a dynamic set of clients. Carbon is operated by a dynamic set of validators that may be…
What looks like acceleration can be a quiet transfer of burden from the present to the future. Attempts to replace human labor with AI systems are often presented as rational responses to technological progress, but that view is often…
We show that fluid organizations display higher levels of cooperation than attainable by groups with either a fixed social structure or lacking one altogether. By moving within the organization, individuals cause restructurings that…
Play-to-earn is one of the prospective categories of decentralized applications. The play-to-earn projects combine blockchain technology with entertaining games and finance, attracting various participants. While huge amounts of capital…