The paper investigates speculative Oracle Extractable Value (OEV) on Layer-2 blockchains, demonstrating that predictable latency differences in cross-chain oracle updates allow for profitable cross-ch…

The paper analyzes Ethereum builder transactions to show that builder centralization is an emergent property of the Proposer-Builder Separation (PBS) architecture, driven by specific order flow and ME…

The paper analyzes arbitrage competition on high-throughput blockchains, finding that while probabilistic search accounts for a small fraction of activity, it is disproportionately responsible for spa…

The paper analyzes the trade-offs in designing Automated Market Makers (AMMs) and proves a 'trilemma' theorem showing that it is impossible to simultaneously achieve incentive compatibility (IC), weak…

This paper models Ethereum's mempool as a dynamic scheduling problem using an MDP, showing that dynamic pricing stabilizes the system and maximizes long-run rewards, and that the optimal policy conver…

The paper demonstrates that on public blockchains, the ability to dictate transaction order (ordering power) is the true source of sanctioning power, as block producers can extract value (SE-MEV) by p…

The paper demonstrates that current transfer-based AML systems fail in complex DeFi environments because economic value migration can be structurally decoupled from explicit token transfers.

This paper shows that the pricing of outcomes in prediction markets is significantly influenced by the financial friction of delayed settlement, quantifying this effect using an annualized settlement…

This paper analyzes the revenue drivers and interconnected risks of liquid restaking protocols, finding that while multi-blockchain expansion is key for adoption, the current bridge risk does not pose…

The paper analyzes the potential market impact of a large, unknown Bitcoin holder (the Satoshi overhang) and concludes that the mechanical downside risk is bounded, suggesting the terminal states are…

The paper introduces MEV non-interference, a formal security notion, to ensure that composing new smart contracts in DeFi does not increase the maximal extractable value, thereby providing a formal fo…

The paper analyzes the nascent DeFi investment agent market, finding that while token valuations are high, current deployments are heterogeneous, lack clear autonomous execution, and exhibit poor risk…

The paper empirically analyzes the nascent DeFi investment agent market, finding that while token valuations are high, current deployments lack robust autonomous execution and exhibit poor risk-adjust…

The paper develops and validates a novel Deep Reinforcement Learning (DRL) framework to enhance pair trading in volatile cryptocurrency markets, demonstrating statistically significant outperformance…

The paper investigates whether tokenizing real-world assets actually improves liquidity, finding that liquidity is highly heterogeneous across asset types and is not reliably predicted by the outstand…

The paper reveals that predictable nonce reuse by Polygon MEV searchers creates a critical vulnerability in ECDSA signatures, allowing passive attackers to recover private keys using linear algebra.

The paper introduces ClawCoin, a novel tokenized, compute-cost-indexed unit of account designed to solve the problem of non-transferable compute costs in decentralized AI agent economies.

The paper demonstrates that large language models (LLMs) exhibit measurable, controllable biases toward specific assets like Bitcoin, identifying an internal feature that can causally shift portfolio…

MEV-ACE introduces a fair ordering protocol that mitigates proposer-controlled MEV by combining authenticated economic identities, auditable commit/open messages, and verifiable delay randomness to en…

The paper introduces KTD-Fin, a novel benchmark that evaluates LLM trading agents by masking historical market data and decomposing returns, finding that LLM agents' profits are largely due to passive…