13 citations · 17 across the 26 of their papers we have counts for
3 papers · 1 filter
Proof-of-Work Cryptocurrencies: Does Mining Technology Undermine Decentralization?
Agostino Capponi, Sveinn Olafsson, Humoud Alsabah
Does the proof-of-work protocol serve its intended purpose of supporting decentralized cryptocurrency mining? To address this question, we develop a game-theoretical model where mi…
The Adoption of Blockchain-based Decentralized Exchanges
Agostino Capponi, Ruizhe Jia
We investigate the market microstructure of Automated Market Makers (AMMs), the most prominent type of blockchain-based decentralized exchanges. We show that the order execution me…
Market Making with Stochastic Liquidity Demand: Simultaneous Order Arrival and Price Change Forecasts
Agostino Capponi, José E. Figueroa-López, Chuyi Yu
We provide an explicit characterization of the optimal market making strategy in a discrete-time Limit Order Book (LOB). In our model, the number of filled orders during each perio…