4 papers
Fair Combinatorial Auctions: Endogenous Best Execution in Blockchain Trade-Intent Markets
Andrea Canidio, Felix Henneke
Trade-intent auctions intermediate around USD~9~billion in monthly trading volume. In these auctions, specialized intermediaries called solvers compete for the right to execute ord…
Auctions with Tokens: Monetary Policy as a Mechanism Design Choice
Andrea Canidio
I study a repeated auction in which payments are made with a blockchain token created and initially owned by the auction designer. Unlike the ``virtual money'' previously examined…
Arbitrageurs' profits, LVR, and sandwich attacks: batch trading as an AMM design response
Andrea Canidio, Robin Fritsch
We study a novel automated market maker design: the function maximizing AMM (FM-AMM). Our central assumption is that trades are batched before execution. Because of competition bet…
Measuring Arbitrage Losses and Profitability of AMM Liquidity
Robin Fritsch, Andrea Canidio
This paper presents the results of a comprehensive empirical study of losses to arbitrageurs (following the formalization of loss-versus-rebalancing by [Milionis et al., 2022]) inc…