3 papers
q-fin.TR2026
Pricing the Unprovable: Ambiguity, Turnstile Runs, and the Verifiability Discount in Crypto Protocols
Doohwi Cha, Hanhee Kim, Hyeonjun Yeo +5
Privacy-preserving protocols can repair a vulnerability without establishing whether it was exploited beforehand, even when no theft is reported and aggregate supply is protected.…
q-fin.TR2026
NEST: Stale-Robust Tokenized-Stock Measurement for a Crypto-Treasury LETF Stack
Doohwi Cha, Minsuk Sung, Minjae Lee +5
Tokenized equities trade while listed markets are closed, so their marks could improve off-hours measurement along layered exposures that link Bitcoin, crypto-treasury stocks, and…
q-fin.TR2026
When Cross-Venue Agreement Is Not Price Discovery: Disclosure Frontiers for 24/7 Equity-Perpetual Oracles
Donghwa Seo, Doohwi Cha, Seunghan Son +3
Crypto-listed equity perpetuals trade while the primary cash market is closed, yet still need a mark for margin, funding, and liquidation. We model the closed-window mark as the fi…