55 citations · 84 across the 13 of their papers we have counts for
16 papers
Active Liquidity On Chain: Evidence from PropAMMs Across Chains
Ozan Solmaz, Lioba Heimbach, Jason Milionis
The liquidity providers of most typical automated market makers (AMMs) are passive and known to suffer from adverse selection. AMMs traditionally rely on trades executed on them to…
On the Geographic Incentives of Multiple Concurrent Proposers
Kushal Babel, Jason Milionis, Eric Xue
We study whether systems with multiple concurrent proposers (MCP) incentivize the geographic decentralization of proposers. In our model, concurrent proposers strategically choose…
On testing the incentive compatibility of single-parameter allocation mechanisms
Jason Milionis, William Pires
This paper is the first work at the intersection of game theory and property testing, giving algorithms and lower bounds for efficiently testing whether an allocation mechanism is…
Cadence: Extreme Pipelining with Multiple Concurrent Proposers
Kushal Babel, Fatima Elsheimy, Lioba Heimbach +6
We present Cadence, a Byzantine fault-tolerant multi-proposer consensus protocol with arbitrarily low block intervals, optimal resilience, and optimal fast-path latency. Cadence di…
EVM Workloads in the Wild: Evidence for Multi-Dimensional Gas Metering, State Growth, Delayed Execution, and Parallelism
Lioba Heimbach, Kushal Babel, Jason Milionis
Gas metering on EVM-compatible blockchains assumes that execution conditions are stable: that the resource mix is constant enough to justify collapsing execution costs into a singl…
Optimal Fees for Liquidity Provision in Automated Market Makers
Steven Campbell, Philippe Bergault, Jason Milionis +1
Passive liquidity providers (LPs) in automated market makers (AMMs) face losses due to adverse selection (LVR), which static trading fees often fail to offset in practice. We study…
Incentive-Compatible Recovery from Manipulated Signals, with Applications to Decentralized Physical Infrastructure
Jason Milionis, Jens Ernstberger, Joseph Bonneau +2
We introduce the first formal model capturing the elicitation of unverifiable information from a party (the "source") with implicit signals derived by other players (the "observers…
The Early Days of the Ethereum Blob Fee Market and Lessons Learnt
Lioba Heimbach, Jason Milionis
Ethereum has adopted a rollup-centric roadmap to scale by making rollups (layer 2 scaling solutions) the primary method for handling transactions. The first significant step toward…
Swim till You Sink: Computing the Limit of a Game
Rashida Hakim, Jason Milionis, Christos Papadimitriou +1
During 2023, two interesting results were proven about the limit behavior of game dynamics: First, it was shown that there is a game for which no dynamics converges to the Nash equ…
FLAIR: A Metric for Liquidity Provider Competitiveness in Automated Market Makers
Jason Milionis, Xin Wan, Austin Adams
This paper aims to enhance the understanding of liquidity provider (LP) returns in automated market makers (AMMs). LPs face market risk as well as adverse selection due to risky as…
Automated Market Making and Arbitrage Profits in the Presence of Fees
Jason Milionis, Ciamac C. Moallemi, Tim Roughgarden
We consider the impact of trading fees on the profits of arbitrageurs trading against an automated market maker (AMM) or, equivalently, on the adverse selection incurred by liquidi…
A Myersonian Framework for Optimal Liquidity Provision in Automated Market Makers
Jason Milionis, Ciamac C. Moallemi, Tim Roughgarden
In decentralized finance ("DeFi"), automated market makers (AMMs) enable traders to programmatically exchange one asset for another. Such trades are enabled by the assets deposited…
Complexity-Approximation Trade-offs in Exchange Mechanisms: AMMs vs. LOBs
Jason Milionis, Ciamac C. Moallemi, Tim Roughgarden
This paper presents a general framework for the design and analysis of exchange mechanisms between two assets that unifies and enables comparisons between the two dominant paradigm…
Automated Market Making and Loss-Versus-Rebalancing
Jason Milionis, Ciamac C. Moallemi, Tim Roughgarden +1
Automated Market Makers (AMMs) are both liquidity sources and investment vehicles for market participants. This paper analyzes the risks and returns of liquidity provision (LP) inv…
Nash, Conley, and Computation: Impossibility and Incompleteness in Game Dynamics
Jason Milionis, Christos Papadimitriou, Georgios Piliouras +1
Under what conditions do the behaviors of players, who play a game repeatedly, converge to a Nash equilibrium? If one assumes that the players' behavior is a discrete-time or conti…
Differentially Private Regression with Unbounded Covariates
Jason Milionis, Alkis Kalavasis, Dimitris Fotakis +1
We provide computationally efficient, differentially private algorithms for the classical regression settings of Least Squares Fitting, Binary Regression and Linear Regression with…