Related papers: Canonical LST: A Protocol-Native Liquid Staking So…
Liquid staking and restaking represent recent innovations in Decentralized Finance (DeFi) that garnered user interest and capital. Liquid Staking Tokens (LSTs), tokenized representations of staked tokens on Proof-of-Stake (PoS) blockchains,…
This paper studies liquid staking tokens (LSTs) on automated market makers (AMMs), both theoretically and empirically. LSTs are tokenized representations of staked assets on proof-of-stake blockchains. First, we model LST-liquidity on AMMs…
Liquid staking has become the largest category of decentralized finance protocols in terms of total value locked. However, few studies exist on its implementation designs or underlying risks. The liquid staking protocols allow for earning…
Permissionless Proof-of-Stake (PoS) economic security is predicated on the high cost of violating consensus safety or liveness. We show that liquid staking introduces additional risks that are not captured by standard PoS economic security…
This paper presents a novel staking coopetition design aimed at incentivizing decentralization and continuous growth of economic security within a proof-of-stake system. Staking rewards follow a nonlinear mapping relative to stake size.…
The Proof of Efficient Liquidity (PoEL) protocol, designed for specialised Proof of Stake (PoS) consensus-based blockchains that incorporate intrinsic DeFi applications, aims to support sustainable liquidity bootstrapping and network…
Tezos is an innovative blockchain that improves on several aspects compared to more established blockchains. It offers an original proof-of-stake consensus algorithm and can be used as a decentralized smart contract platform. It has the…
Decentralized finance introduces new business models and use cases as part of digital finance. Restaking has recently emerged as a transformative mechanism in DeFi, promising extra yields but introducing complex and interconnected risks.…
In the Proof of Stake (PoS) Ethereum ecosystem, users can stake ETH on Lido to receive stETH, a Liquid Staking Derivative (LSD) that represents staked ETH and accrues staking rewards. LSDs improve the liquidity of staked assets by…
While online interactions and exchanges have grown exponentially over the past decade, most commercial infrastructures still operate through centralized protocols, and their success essentially depends on trust between different economic…
We introduce a micro-velocity framework for analysing the on-chain circulation of Lidos liquid-staking tokens, stETH, and its wrapped ERC-20 form, wstETH. By reconstructing full transfer and share-based accounting histories, we compute…
Cybersecurity data remains fragmented across vendors, formats, schemas, and deployment environments, forcing AI and analytics programs to spend disproportionate effort on ingestion, normalization, and brittle source-specific engineering.…
Entanglement distillation, the process of converting weakly entangled states into maximally entangled ones using Local Operations and Classical Communication (LOCC), is pivotal for robust entanglement-assisted quantum information processing…
Proof-of-Stake consensus protocols give rise to complex modeling challenges. We analyze the recently-updated Tezos Proof-of-Stake protocol and demonstrate that, under certain conditions, rational participants are incentivized to behave…
The flow of colloidal suspensions is ubiquitous in nature and industry. Colloidal suspensions exhibit a wide range of rheological behavior, which should be closely related to the microscopic structure of the systems. With in-situ…
In this paper, we study an investor's optimal entry and exit decisions in a liquid staking protocol (LSP) and an automated market maker (AMM), primarily from the standpoint of the investor. Our analysis focuses on two key investor actions:…
The internalization of chain-of-thought processes into hidden states has emerged as a highly efficient paradigm for scaling test-time compute. However, existing activation steering methods rely on static control vectors that fail to adapt…
We propose a flexible framework for hedging a contingent claim by holding static positions in vanilla European calls, puts, bonds, and forwards. A model-free expression is derived for the optimal static hedging strategy that minimizes the…
Dropout and similar stochastic neural network regularization methods are often interpreted as implicitly averaging over a large ensemble of models. We propose STE (stochastically trained ensemble) layers, which enhance the averaging…
SAFE is a data-centric platform for building multi-domain networked systems, i.e., systems whose participants are controlled by different principals. Participants make trust decisions by issuing local queries over logic content exchanged in…