相关论文: Financial Dynamics and Interconnected Risk of Liqu…
Evaluation of systemic risk in networks of financial institutions in general requires information of inter-institution financial exposures. In the framework of Debt Rank algorithm, we introduce an approximate method of systemic risk…
As impressively shown by the financial crisis in 2007/08, contagion effects in financial networks harbor a great threat for the stability of the entire system. Without sufficient capital requirements for banks and other financial…
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…
Management of systemic risk in financial markets is traditionally associated with setting (higher) capital requirements for market participants. There are indications that while equity ratios have been increased massively since the…
Frontier models are currently developed and distributed primarily through two channels: centralized proprietary APIs or open-sourcing of pre-trained weights. We identify a third paradigm - Protocol Learning - where models are trained across…
Decentralized bridge applications are important software that connects various blockchains and facilitates cross-chain asset transfer in the decentralized finance (DeFi) ecosystem which currently operates in a multi-chain environment.…
INTRODUCTION: The proliferation of the amalgamation of IoT and edge computing has increased the demand for decentralised trust and security mechanisms capable of operating across heterogeneous and resource-limited devices. Approaches such…
We develop a mathematical framework to optimize leveraged staking ("loopy") strategies in Decentralized Finance (DeFi), in which a staked asset is supplied as collateral, the underlying is borrowed and re-staked, and the loop can be…
The rising number of IoT devices is accelerating the research on new solutions that will be able to efficiently deal with unreliable connectivity in highly dynamic computing applications. To improve the overall performance in IoT…
We analyze cascades of defaults in an interbank loan market. The novel feature of this study is that the network structure and the size distribution of banks are derived from empirical data. We find that the ability of a defaulted…
This paper delves into the spectrum of credit risks associated with decentralized stablecoin issuance, ranging from overcollateralized lending to business-to-business credit. It examines the mechanisms, risks, and mitigation strategies at…
The latest financial crisis has painfully revealed the dangers arising from a globally interconnected financial system. Conventional approaches based on the notion of the existence of equilibrium and those which rely on statistical…
Blockchain technology has revolutionized financial markets by enabling decentralized exchanges (DEXs) that operate without intermediaries. Uniswap V2, a leading DEX, facilitates the rapid creation and trading of new tokens, which offer high…
This paper introduces a novel framework to study default dependence and systemic risk in a financial network that evolves over time. We analyse several indicators of risk, and develop a new latent space model to assess the health of key…
We talk of the internet as digital infrastructure; but we leave the building of rails and roads to the quasi-monopolistic platform providers. Decentralised architectures provide a number of advantages: They are potentially more inclusive…
Establishing a resilient food trade system is an international consensus on safeguarding food security amid growing disruptions. However, a unified resilience framework has yet to be established, leading to the proliferation of diverse…
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…
Excessive leverage, i.e. the abuse of debt financing, is considered one of the primary factors in the default of financial institutions. Systemic risk results from correlations between individual default probabilities that cannot be…
The limit order book mechanism has been the core trading mechanism of the modern financial market. In the cryptocurrency market, centralized exchanges also adopt this limit order book mechanism and a centralized matching engine dynamically…
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…