The paper proposes Orbital, an automated market maker designed to extend concentrated liquidity from two-asset pools to pools with three or more stablecoins. It represents liquidity ranges as nested ticks around the point where all coins have equal value.…
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Документів: 175
The article explains how automated market makers quote prices and why a trader’s average fill can differ from the marginal price. For a constant-product pool, the reserve ratio determines the current marginal price; a trade shifts that ratio, so larger…
The article explains design choices behind Optimism’s early optimistic rollup system, with emphasis on reusing Ethereum’s developer stack and preserving familiar tooling. Its central execution mechanism is the Optimistic Virtual Machine, which replaces…
The document summarizes Paradigm’s recommendations on the FCA’s proposed application of its Handbook to cryptoasset activities. It argues that regulators should define decentralization using technical criteria such as control of admin keys, on-chain…
This survey maps the political views, identity, media use, risk attitudes, holdings, and consumer habits of U.S. crypto users. It reports a politically diverse respondent group, substantial personal identification with crypto, frequent use of social media…
The paper proposes organizing financial assets into parallel “verses,” each representing an event or set of possible outcomes. Assets tied to the same event can be used together: for example, collateral and borrowed tokens that both become worthless if the…
The document argues that U.S. crypto projects cannot simply register with the SEC under existing rules. It says the agency has not supplied actionable guidance for digital assets, while standard disclosure forms and related securities regulations do not fit…
The document explains how Uniswap v3’s range-based liquidity positions can be arranged to approximate the liquidity behavior of other two-asset automated market makers. It represents an AMM’s local liquidity across logarithmic price ticks as a curve, calling…
This poll reports crypto ownership, intended investment, and policy attitudes among registered Democratic voters. Conducted from late July to early August 2024, it surveyed 804 self-identified Democrats and oversampled Black, Hispanic, and Asian American and…
This document presents findings from a survey of 300 traditional finance professionals across institutions, roles, and regions. The authors report broad dissatisfaction with existing financial infrastructure, which they describe as labor-intensive and…
This document sets out proposed principles for legislation governing crypto market structure, with an emphasis on preserving DeFi and open innovation. It proposes treating most crypto assets as digital commodities while leaving tokenized securities within…
The document summarizes Paradigm’s comments on joint SEC and CFTC requests about swap reporting and the definition of swaps and security-based swaps. It argues that reporting rules should focus on regulatory outcomes and allow credible public blockchain data…
This essay describes the evolution of crypto markets from early retail-focused exchanges to an institutionally accessible system with larger derivatives markets, narrower OTC spreads, lending, stablecoin trading pairs, and specialized custody and execution…
The essay presents crypto as an emerging ecosystem whose speculation can attract capital, talent, attention, and infrastructure. It argues that trading scarce digital assets is an early expression of new property rights and that speculative participants can…
The explainer distinguishes token grants from conventional equity compensation and describes how grant value, liquidity, vesting, transfer restrictions, and taxes can differ. It separates pre-launch grants, whose value depends on a future token launch and…
The document introduces Foundry as a toolkit for Ethereum application development, with an emphasis on testing Solidity contracts. It describes writing tests in Solidity, using randomized inputs to fuzz functions, and shrinking failures to small…
The article argues that miners are economically better off accepting EIP-1559 than trying to block it or split away from Ethereum. It outlines miner revenue from block subsidies, transaction fees, and miner-extractable value, and explains that mining…
This report argues that Bitcoin mining can act as flexible electricity demand rather than simply competing with household and industrial use. It explains miners’ incentive to run when power is cheap and to reduce activity when prices rise, and describes how…
This legal advocacy article examines whether developers of autonomous, noncustodial crypto software can be prosecuted as money transmitters when users employ the software for unlawful transactions. It distinguishes publishing code from operating an…
This commentary argues that prediction markets can aggregate information about political outcomes more quickly than conventional polling. It points to the 2024 US presidential race, where market-implied probabilities tracked a named election model and…
This advocacy article previews congressional hearings on whether banks and regulators restricted banking access for crypto businesses and their founders. It describes operational consequences such as losing payment rails, institutional financing, and…
The document proposes a layered approach to reducing illicit finance and related threats in crypto, arguing that varied and fast-moving systems need multiple defenses rather than a single control. It groups the proposed measures into risk assessment and…
This document outlines Paradigm’s argument in support of James Harper’s challenge to an IRS summons seeking records about a large group of cryptocurrency users. It says the summons functioned as a broad information-gathering effort rather than a targeted…
This document summarizes an amicus brief challenging the application of federal cash-transaction reporting rules to digital assets. It argues that linking a person’s legal identity to a public blockchain wallet can expose a far broader record than a…