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Decentralized Finance (DeFi) is a new paradigm in the creation, distribution, and utilization of financial services via the integration of blockchain technology. Our research conducts a comprehensive introduction and meticulous…

密码学与安全 · 计算机科学 2023-12-04 Erya Jiang , Bo Qin , Qin Wang , Zhipeng Wang , Qianhong Wu , Jian Weng , Xinyu Li , Chenyang Wang , Yuhang Ding , Yanran Zhang

Decentralized finance (DeFi) has the potential to disrupt centralized finance by validating peer-to-peer transactions through tamper-proof smart contracts, thus significantly lowering the transaction cost charged by financial…

综合经济学 · 经济学 2023-12-04 Ziqiao Ao , Lin William Cong , Gergely Horvath , Luyao Zhang

Decentralized Finance (DeFi) services are moving traditional financial operations to the Internet of Value (IOV) by exploiting smart contracts, distributed ledgers, and clever heterogeneous transactions among different protocols. The…

综合经济学 · 经济学 2023-07-18 Teng Andrea Xu , Jiahua Xu

The decentralized and trustless nature of cryptocurrencies and blockchain technology leads to a shift in the digital world. The possibility to execute small programs, called smart contracts, on cryptocurrencies like Ethereum opened doors to…

密码学与安全 · 计算机科学 2021-01-15 Hendrik Amler , Lisa Eckey , Sebastian Faust , Marcel Kaiser , Philipp Sandner , Benjamin Schlosser

Much of the recent excitement around decentralized finance (DeFi) comes from hopes that DeFi can be a secure, private, less centralized alternative to traditional finance systems. However, people moving to DeFi sites in hopes of improving…

密码学与安全 · 计算机科学 2023-02-07 Philipp Winter , Anna Harbluk Lorimer , Peter Snyder , Benjamin Livshits

Many classical blockchains are known to have an embarrassingly low transaction throughput, down to Bitcoin's notorious seven transactions per second limit.Various proposals and implementations for increasing throughput emerged in the first…

密码学与安全 · 计算机科学 2023-03-08 Lioba Heimbach , Quentin Kniep , Yann Vonlanthen , Roger Wattenhofer

DeFi, or Decentralized Finance, is based on a distributed ledger called blockchain technology. Using blockchain, DeFi may customize the execution of predetermined operations between parties. The DeFi system use blockchain technology to…

密码学与安全 · 计算机科学 2023-04-27 Wenkai Li , Jiuyang Bu , Xiaoqi Li , Hongli Peng , Yuanzheng Niu , Yuqing Zhang

Decentralised Finance (DeFi) applications constitute an entire financial ecosystem deployed on blockchains. Such applications are based on complex protocols and incentive mechanisms whose financial safety is hard to determine. Besides,…

Uniswap is a Constant Product Market Maker built around liquidity pools, where pairs of tokens are exchanged subject to a fee that is proportional to the size of transactions. At the time of writing, there exist more than 6,000 pools…

交易与市场微观结构 · 定量金融 2023-02-01 Deborah Miori , Mihai Cucuringu

Decentralized Finance (DeFi), a blockchain powered peer-to-peer financial system, is mushrooming. Two years ago the total value locked in DeFi systems was approximately 700m USD, now, as of April 2022, it stands at around 150bn USD. The…

密码学与安全 · 计算机科学 2022-09-16 Sam M. Werner , Daniel Perez , Lewis Gudgeon , Ariah Klages-Mundt , Dominik Harz , William J. Knottenbelt

Currently cryptocurrencies and Decentralized Finance (DeFi), which enable financial services on public blockchains, represents a new growing trend in finance. In contrast to financial markets, ruled by traditional corporations, DeFi is…

社会与信息网络 · 计算机科学 2024-01-04 Mar Grande , Florentino Borondo , Javier Borondo

Decentralized finance (DeFi) in Ethereum is a financial ecosystem built on the blockchain that has locked over 200 billion USD until April 2022. All transaction information is transparent and open when transacting through the DeFi protocol,…

密码学与安全 · 计算机科学 2022-05-20 Wenkai Li , Jiuyang Bu , Xiaoqi Li , Xianyi Chen

Decentralized Finance (DeFi) applications introduce novel financial instruments replicating and extending traditional ones through blockchain-based smart contracts. Among these applications, DeFi derivatives protocols enable the creation…

计算机科学与博弈论 · 计算机科学 2026-05-05 Luca Pennella , Pietro Saggese , Fabio Pinelli , Letterio Galletta

Decentralized exchanges, such as those employing constant product market makers (CPMMs) like Uniswap V2, play a crucial role in the blockchain ecosystem by enabling peer-to-peer token swaps without intermediaries. Despite the increasing…

计算金融 · 定量金融 2025-04-23 Yu Zhang , Yafei Li , Claudio Tessone

The financial sector's adoption of technology-driven data analysis has enhanced operational efficiency and revenue generation by leveraging personal sensitive data. However, the inherent characteristics of blockchain hinder decentralized…

密码学与安全 · 计算机科学 2023-11-13 Zhuangtong Huang , Jiawei Zhu , Zhongyu Huang , Yixin Xu , Jerome Yen , Ye Wang

We present a measurement study on compositions of Decentralized Finance protocols, which aim to disrupt traditional finance and offer services on top of distributed ledgers, such as Ethereum. DeFi compositions may impact the development of…

密码学与安全 · 计算机科学 2022-10-03 Stefan Kitzler , Friedhelm Victor , Pietro Saggese , Bernhard Haslhofer

With the development of decentralized finance (DeFi), lending protocols have been increasingly proposed in the market. A comprehensive and in-depth evaluation of lending protocol is essential to the DeFi market participants. Due to the…

社会与信息网络 · 计算机科学 2023-03-03 Shuai Yang , Wei Cui

As decentralized finance (DeFi) evolves, distinguishing between user behaviors - liquidity provision versus active trading - has become vital for risk modeling and on-chain reputation. We propose a behavioral scoring framework for Uniswap…

综合金融 · 定量金融 2025-07-29 Dhanashekar Kandaswamy , Ashutosh Sahoo , Akshay SP , Gurukiran S , Parag Paul , Girish G N

Lending protocols are one of the main applications of Decentralized Finance (DeFi), enabling crypto-assets loan markets with a total value estimated in the tens of billions of dollars. Unlike traditional lending systems, these protocols…

计算机科学与博弈论 · 计算机科学 2025-06-19 Massimo Bartoletti , Enrico Lipparini

Blockchain technology and decentralized finance (DeFi) are reshaping global financial systems. Despite their impact, the spatial distribution of public sentiment and its economic and geopolitical determinants are often overlooked. This…

综合经济学 · 经济学 2025-02-04 Yuqi Chen , Yifan Li , Kyrie Zhixuan Zhou , Xiaokang Fu , Lingbo Liu , Shuming Bao , Daniel Sui , Luyao Zhang
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