Towards a Theory of Decentralized Finance

Bartoletti M.;
2021-01-01

Abstract

Decentralized Finance (DeFi) has brought about decentralized applications which allow untrusted users to lend, borrow and exchange crypto-assets. Many of such applications fulfill the role of markets or market makers, featuring complex, highly parametric incentive mechanisms to equilibrate interest rates and prices. This complexity makes the behaviour of DeFi applications difficult to understand: indeed, ill-designed incentive mechanisms could potentially lead to emergent unwanted behaviours. We argue that theories, techniques and tools rooted in formal methods can provide useful instruments to better understand, specify and analyze DeFi systems. We summarize in this paper our first steps towards a theory of DeFi based on formal methods, and we overview the open challenges and opportunities for formal methods in DeFi.
2021
Inglese
Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)
978-3-662-63957-3
978-3-662-63958-0
Springer Science and Business Media Deutschland GmbH
LECTURE NOTES IN ARTIFICIAL INTELLIGENCE
12676
227
232
6
WOS:000713005000020
2-s2.0-85115859787
https://link.springer.com/chapter/10.1007/978-3-662-63958-0_20
2nd Workshop on Coordination of Decentralized Finance, CoDecFin 2021, 1st Workshop on Decentralized Finance, DeFi 2021, 6th Workshop on Advances in Secure Electronic Voting, VOTING 2021, and 5th Workshop on Trusted Smart Contracts, WTSC 2021, held in conjunction with the 25th International Conference on Financial Cryptography and Data Security, FC 2021
Contributo
Comitato scientifico
2021
Virtual
internazionale
scientifica
sì
4 Contributo in Atti di Convegno (Proceeding)::4.1 Contributo in Atti di convegno
Bartoletti, M.; Chiang, J. H. -Y.; Lafuente, A. L.
273
3
4.1 Contributo in Atti di convegno
open
info:eu-repo/semantics/conferencePaper
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