Resources from paper "(In)Stability for the Blockchain: Deleveraging Spirals and Stablecoin Attacks"
To be published in Cryptoeconomics Systems journal, MIT Press Presented at Crypto Valley Conference 2019, European Central Bank P2P Financial Systems 2019, and Crypto Economics Security Conference 2019
Paper available here, Devcon V talk available here, DeFi Summit talk (longer version) here
This repository contains
- Simulator code for the paper
- Presentation slides
- A supplementary short paper discussing design considerations and analyzing attack vectors. Contributes numerical examples of profitable bets on liquidations within the model.
There are also two follow-up papers
- "While Stability Lasts" here, containing an improved model and stronger results. Corresponding blog post here
- "Stablecoins 2.0" here, which maps out the wider stablecoin design space and develops models for addressing governance extractable value (GEV) and miner extractable value (MEV). Corresponding blog posts here and here
This material is based on work funded by the NSF. I thank Lykke and Binance for additional support toward parts of this project.