Related papers: A Trilemma in AMM Mechanism Design
Mechanism design is studied for aggregating renewable power producers (RPPs) in a two-settlement power market. Employing an indirect mechanism design framework, a payoff allocation mechanism (PAM) is derived from the competitive equilibrium…
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…
We study blockchain trade-intent auctions, which currently intermediate about USD 10 billion in trades each month. These auctions are combinatorial because executing multiple trade intents jointly generates additional efficiencies. However,…
Miners in a blockchain system are suffering from ever-increasing storage costs, which in general have not been properly compensated by the users' transaction fees. This reduces the incentives for the miners' participation and may jeopardize…
Cryptocurrencies employ auction-esque transaction fee mechanisms (TFMs) to allocate transactions to blocks, and to determine how much fees miners can collect from transactions. Several impossibility results show that TFMs that satisfy a…
The long-term success of cryptocurrencies largely depends on the incentive compatibility provided to the validators. Bribery attacks, facilitated trustlessly via smart contracts, threaten this foundation. This work introduces, implements,…
With the development of Ethereum, numerous blockchains compatible with Ethereum's execution environment (i.e., Ethereum Virtual Machine, EVM) have emerged. Developers can leverage smart contracts to run various complex decentralized…
Block space on the blockchain is scarce and must be allocated efficiently through block building. However, Ethereum's current block-building ecosystem, MEV-Boost, has become highly centralized due to integration, which distorts competition,…
The recent adoption of blockchain technologies and open permissionless networks suggest the importance of peer-to-peer atomic cross-chain transaction protocols. Users should be able to atomically exchange tokens and assets without depending…
Maximal Extractable Value (MEV) has garnered significant attention in the cryptocurrency community. Such attention is a consequence of the revenue that can be generated from MEV, as well as the risks MEV poses to the fundamental value…
Modern cryptocurrency systems, such as Ethereum, permit complex financial transactions through scripts called smart contracts. These smart contracts are executed many, many times, always without real concurrency. First, all smart contracts…
Automated Market Makers (AMMs) are a class of smart contracts on Ethereum and other blockchains that "make markets" autonomously. In other words, AMMs stand ready to trade with other market participants that interact with them, at the…
Automated Market Makers (AMMs) are decentralized exchange protocols that provide continuous access to token liquidity without the need for order books or traditional market makers. However, this innovation has failed to scale when it comes…
We study an auction with $m$ identical items in a context where $n$ agents can arbitrarily commit to strategies. In general, such commitments non-trivially change the equilibria by inducing a metagame of choosing which strategies to commit…
Automated market makers (AMMs) are pricing mechanisms utilized by decentralized exchanges (DEX). Traditional AMM approaches are constrained by pricing solely based on their own liquidity pool, without consideration of external markets or…
We study the problem of designing revenue-maximizing mechanisms for a selfish mediator who facilitates trade between a buyer and a seller. We consider a setting where the mediator does not have information advantage and the buyer's…
Mining in the blockchain requires high computing power to solve the hash puzzle for example proof-of-work puzzle. It takes high cost to achieve the calculation of this problem in devices of IOT, especially the mobile devices of IOT. It…
In the traditional mobile edge computing (MEC) system, the availability of MEC services is greatly limited for the edge users of the cell due to serious signal attenuation and inter-cell interference. User-centric MEC (UC-MEC) can be seen…
Automated market makers (AMMs) are a new prototype of decentralised exchanges which are revolutionising market interactions. The majority of AMMs are constant product markets (CPMs) where exchange rates are set by a trading function. This…
Blockchains have block-size limits to ensure the entire cluster can keep up with the tip of the chain. These block-size limits are usually single-dimensional, but richer multidimensional constraints allow for greater throughput. The…