3 papers
q-fin.TR2026
Basis-Only Funding Is Not Dividend Fair: Settlement Design in Crypto Equity Perpetuals
Donghwa Seo, Doohwi Cha, Seunghan Son +3
Crypto venues increasingly list perpetual futures on equities and other real-world assets (RWAs), which trade continuously yet reference dividend-paying stocks: a long equity perpe…
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…