相关论文: Cross-Rollup MEV: Non-Atomic Arbitrage Across L2 B…
Trading through decentralized exchanges (DEXs) has become crucial in today's blockchain ecosystem, enabling users to swap tokens efficiently and automatically. However, the capacity of miners to strategically order transactions has led to…
This paper examines the relationship between impermanent loss (IL) and loss-versus-rebalancing (LVR) in automated market makers (AMMs). Our main focus is on statistical properties, the impact of fees, the role of block times, and, related…
The scalability limitations of public blockchains have hindered their widespread adoption in real-world applications. While the Ethereum community is pushing forward in zk-rollup (zero-knowledge rollup) solutions, such as introducing the…
Dynamic-weight AMMs (aka Temporal Function Market Makers, TFMMs) implement algorithmic asset allocation, analogous to index or smart beta funds, by continuously updating pools' weights. A strategy updates target weights over time, and…
We consider Geometric Mean Market Makers -- a special type of Decentralized Exchange -- with two types of users: liquidity takers and arbitrageurs. Liquidity takers trade at prices that can create arbitrage opportunities, while arbitrageurs…
We analyze maximal extractable value in multiple concurrent proposer blockchains, where multiple blocks become data available before their final execution order is determined. This concurrency breaks the single builder assumption of…
The XRP Ledger (XRPL) is a peer-to-peer cryptographic ledger. It features a decentralized exchange (DEX) where network participants can issue and trade user-defined digital assets and currencies. We present Jack the Rippler, a bot that…
The Ethereum block-building process has changed significantly since the emergence of Proposer-Builder Separation. Validators access blocks through a marketplace, where block builders bid for the right to construct the block and earn MEV…
Optimistic rollups rely on fraud proofs -- interactive protocols executed on Ethereum to resolve conflicting claims about the rollup's state -- to scale Ethereum securely. To mitigate against potential censorship of protocol moves, fraud…
Block production on the Ethereum blockchain has adopted an auction-based mechanism known as Proposer--Builder Separation (PBS), where validators outsource block creation to builders competing in MEV--Boost auctions for Maximal Extractable…
In the context of blockchain, MEV refers to the maximum value that can be extracted from block production through the inclusion, exclusion, or reordering of transactions. Searchers often participate in order flow auctions (OFAs) to obtain…
Blockchain technology shows significant results and huge potential for serving as an interweaving fabric that goes through every industry and market, allowing decentralized and secure value exchange, thus connecting our civilization like…
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,…
Automated Market Maker (AMM)-based Decentralized Exchanges (DEXs) are crucial in Decentralized Finance (DeFi), but Ethereum implementations suffer from high transaction costs and price synchronization challenges. To address these…
Blockchains protect an ecosystem worth more than $500bn with strong security properties derived from the principle of decentralization. Is today's blockchain decentralized? In this paper, we empirically studied one of the least…
This research explores a relatively unexplored area of predicting cryptocurrency staking rewards, offering potential insights to researchers and investors. We investigate two predictive methodologies: a) a straightforward sliding-window…
Blockchains face a scalability challenge due to the intrinsic throughput limitations of consensus protocols and the limitation in block sizes due to decentralization. An alternative to improve the number of transactions per second is to use…
Cryptocurrencies such as Bitcoin and Ethereum have recently gained a lot of popularity, not only as a digital form of currency but also as an investment vehicle. Online marketplaces and exchanges allow users across the world to convert…
This paper is a supplement to our recent paper ``Alternative models for FX, arbitrage opportunities and efficient pricing of double barrier options in L\'evy models". We introduce the class of regime-switching L\'evy models with memory,…
Achieving the equilibrium between scalability, sustainability, and security while keeping decentralization has prevailed as the target solution for decentralized blockchain applications over the last years. Several approaches have been…