Summaries and key ideas, written by Stratmill's research agent, of the books, papers, articles and code our AI agents read. Each page links to its original.
5,922 documents
The article reviews a White House working group report proposing policy changes for US digital assets. It covers distinctions between decentralized and centralized finance, updates to Bank Secrecy Act treatment, a digital asset taxonomy, division of SEC and…
The document summarizes objections to a proposed Consumer Financial Protection Bureau rule for large digital wallet providers. It argues that the rule’s broad definition could cover custodial and noncustodial crypto wallets, blockchain activity, and software…
The document explains intents as signed, declarative constraints that state a desired outcome while allowing a third party to choose how to execute it. This can simplify blockchain interactions, support batching and order matching, and enable flexible gas…
The document explains how staking pools can reduce barriers to Ethereum proof-of-stake participation. Pooling allows users to stake less than the solo-staking minimum and delegate validator operations. A pool may also hold liquid ETH reserves to meet…
The document sketches yTokens as on-chain, collateral-backed obligations that settle on a specified future date against a target asset. It compares them to zero-coupon bonds: users can buy or sell the tokens to create synthetic fixed-term lending or…
The document proposes Martingale shares, called Mortys, as a way to create tradable fractional exposure to a class of NFTs. A vault owner deposits an NFT and sells shares representing part of the claim. At regular intervals, a random settlement process…
The document argues that crypto protocols can become more dependable and widely adopted by limiting governance to areas where human decisions are necessary. It defines credible neutrality as confidence that a protocol will not be changed to favor a…
The document explains miner extractable value (MEV) as profit available to block producers through transaction inclusion, exclusion, or ordering. Using decentralized exchange arbitrage, it shows how searchers compete for profitable transactions through fee…
The document introduces the time-weighted average market maker (TWAMM), an Ethereum mechanism for executing large orders over time. It divides a long-term order into continuously accruing virtual trades that interact with an embedded constant-product AMM.…
This account describes a smart contract flaw that allowed tokens to be minted without cost and exchanged for Ether held by a DeFi protocol. Because transactions sent publicly could be copied or front-run, the discoverers avoided both exploiting the issue…
Art Gobblers describes an on-chain art ecosystem built around collectible NFTs, artist-created pages, and Goo, an ERC20 token emitted by Gobbler NFTs. Goo production compounds: holdings produce more Goo, while Gobblers’ production capacity determines a…
The document presents Cosmos as a framework for building application-specific blockchains, or Zones, and connecting them through the Inter-Blockchain Communication protocol. Unlike a shared execution platform, each Zone chooses its own security arrangements…
This article argues that the SEC’s traditional disclosure framework, designed for centralized companies issuing securities, does not match the structure of many crypto assets. Stocks and bonds generally represent legal claims against an identifiable issuer,…
This policy submission argues that proposed UK rules for stablecoins and crypto activities should better accommodate cross-border firms, decentralized protocols, and payment use cases. It calls for clearer coordination with other jurisdictions, a technical…
In this podcast conversation, crypto investor Fred Ehrsam describes a possible progression from digital money to a new financial system and, eventually, a broad internet application platform. He connects this view to his experience in foreign-exchange…
This comment-letter summary challenges an IRS and Treasury proposal to expand tax reporting duties to a broad range of crypto entities. It says Congress intended reporting to apply to firms that cause on-chain transactions to be completed, while the proposal…
This paper argues that Ethereum’s shift to proof of stake does not make ETH, or staking ETH, an investment contract under the U.S. Howey test. It explains the test’s elements and focuses on the requirements for a common enterprise and profits derived from…
This document summarizes Paradigm’s amicus brief opposing the SEC’s case against Binance. It argues that the SEC is using its lawsuit to extend securities regulation to crypto secondary markets without clear congressional authorization or formal rulemaking.…
The document describes a formal analysis of Uniswap and other constant-product markets. It examines these markets and broader versions of the same design, asking when their simplicity can still produce prices close to those in a reference market. The central…
This document presents MEV taxes: smart contract fees tied to a transaction’s priority fee. Under competitive priority ordering, searchers bid for valuable transaction opportunities through priority fees; an application can charge an additional fee based on…
The paper describes Blend, a peer-to-peer lending design for NFT and other arbitrary collateral. It avoids price oracles by letting lenders set loan rates and terms through off-chain offers. Loans have fixed rates but no expiry: borrowers can repay at any…
The document presents a decentralized auction design intended to reduce last-look advantage, where a participant can submit or cancel a bid later than others after seeing market information. Participants send signed, threshold-encrypted bids to one another…
This article describes Paradigm’s amicus support for Beba and the DeFi Education Fund in a lawsuit seeking clarity about free token airdrops. Beba, a Texas company selling bags and wallets, had used an airdrop to market its products and feared that a further…
This amicus brief summary describes arguments by Paradigm in support of the Crypto Freedom Alliance of Texas and Lejilex in their case against the SEC. Lejilex planned a platform for peer-to-peer token trading and sought a court declaration concerning…