4 papers · 1 filter
Reserve Depletion and Security Runway in Proof-of-Stake Systems
Paolo Penna, Manvir Schneider
Many proof-of-stake protocols finance validator rewards from two sources: transaction fees and a finite reserve of tokens. This creates a dynamic hand-off problem. Early in the lif…
Airdrop Games
Sotiris Georganas, Aggelos Kiayias, Paolo Penna
Launching a new blockchain system or application is frequently facilitated by a so called airdrop, where the system designer chooses a pre-existing set of potentially interested pa…
Reward Schemes and Committee Sizes in Proof of Stake Governance
Georgios Birmpas, Philip Lazos, Evangelos Markakis +1
In this paper, we investigate the impact of reward schemes and committee sizes motivated by governance systems over blockchain communities. We introduce a model for elections with…
Single-token vs Two-token Blockchain Tokenomics
Aggelos Kiayias, Philip Lazos, Paolo Penna
We study long-term equilibria that arise in the token monetary policy, or tokenomics, design of proof-of-stake (PoS) blockchain systems that engage utility maximizing users and val…