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Results for “Dao” · papers 4 · wiki 1
Academic Papers · 4arXiv q-fin live 0 · desk corpus 4
arXiv · arXiv · 2022
Decentralized Autonomous Organization (DAO) is very popular in Decentralized Finance (DeFi) applications as it provides a decentralized governance solution through blockchain. We analyze the governance characteristics in the Maker protocol, its stablecoin DAI and governance token Maker (MKR). To achieve that, we establish several measurements of centralized governance. Our empirical analysis investigates the effect o…
Xiaotong Sun, Charalampos Stasinakis, Georigios Sermpinis
arXiv · arXiv · 2026
Algorithmic stablecoins promise decentralized monetary stability by maintaining a target peg through programmatic reserve management. Yet, their reserve controllers remain vulnerable to regime-blind optimization, calibrating risk parameters on fair-weather data while ignoring tail events that precipitate cascading failures. The March 2020 Black Thursday collapse, wherein MakerDAO's collateral auctions yielded $8.3M i…
Shengwei You, Aditya Joshi, Andrey Kuehlkamp, Jarek Nabrzyski
arXiv · arXiv · 2025
This paper maps the emerging market for decentralized credit in which ERC 4626 vaults and third-party curators, rather than monolithic lending protocols alone, increasingly determine underwriting and leverage decisions. We show that modular vaults differ in capital utilization, cross-chain and cross asset concentration, and liquidity risk structure. Further, we show that a small set of curators intermediates a dispro…
Anastasiia Zbandut, Carolina Goldstein
arXiv · arXiv · 2024
Stablecoins have turned out to be the "killer" use case of the growing digital asset space. However, risk management frameworks, including regulatory ones, have been largely absent. In this paper, we address the critical question of measuring and managing risk in stablecoin protocols, which operate on public blockchain infrastructure. The on-chain environment makes it possible to monitor risk and automate its managem…
Marcel Bluhm, Adrian Cachinero Vasiljević, Sébastien Derivaux, Søren Terp Hørlück Jessen
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