DeFi protocols are decentralized applications that provide financial services without traditional intermediaries. These protocols operate on blockchains, enabling functions like lending, borrowing, trading, and yield generation through smart contracts. They represent a significant shift towards open and accessible financial systems.
Context
The current discourse surrounding DeFi protocols often centers on their rapid innovation, potential for disintermediation, and associated risks. Key debates involve the security of smart contracts, the regulatory treatment of decentralized financial instruments, and the challenges of user protection in a permissionless environment. Future developments are anticipated to focus on enhancing protocol security, improving user experience, and clarifying regulatory compliance pathways.
This abstract model defines Maximal Extractable Value via adversarial knowledge, providing the foundational theory for provable security against economic attacks.
The record $237B TVL signals successful institutional capital integration, yet the 22.4% user drop reveals a critical product-market fit failure at the retail layer.
This paper establishes a rigorous, abstract model for Maximal Extractable Value, enabling foundational security proofs against economic manipulation in blockchains.
A new primitive using Fully Homomorphic Encryption allows public blockchains to facilitate private, institutional-grade DeFi lending, addressing a critical confidentiality gap.
US regulators SEC and CFTC initiate a comprehensive harmonization effort, clarifying spot commodity trading and reaffirming foreign exchange registration, signaling a strategic shift towards integrated digital asset oversight.
FLOKI's multi-faceted ecosystem, featuring an NFT metaverse and DeFi suite, drives utility-centric growth, enhancing user engagement and capital efficiency across Web3 verticals.
U.S. regulatory alignment clarifies spot crypto trading and derivatives, compelling firms to update compliance frameworks for enhanced market participation.
The SEC and CFTC's joint harmonization initiative provides critical clarity, signaling a unified federal approach to digital asset market structure and operational compliance.
Aster DEX's rapid ascent, fueled by multi-chain aggregation and enhanced user experience, reconfigures the competitive dynamics within the decentralized perpetual trading vertical.
The SEC's innovation exemption recalibrates compliance, offering a strategic pathway for digital asset firms to operationalize new products under tailored oversight.
BNB Chain's decentralized derivatives market hit a record $21.5 billion in daily volume, signaling robust growth and rising interest in on-chain futures.
This research introduces a formal, abstract model for Maximal Extractable Value, enabling systematic analysis and the development of provably secure blockchain protocols.
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