2026-07-22T11:37:08Z https://drops.dagstuhl.de/oai

oai:drops-oai.dagstuhl.de:25179 2026-03-19T12:59:15Z ddc:004 open_access

Foundations of Fiat-Denominated Loans Collateralized by Cryptocurrencies Hubáček, Pavel Václavek, Jan Yeo, Michelle Blockchains Cryptocurrencies DeFi Loans Mechanism design Subgame Perfect Equilibrium Rational analysis The rising importance of cryptocurrencies as financial assets pushed their applicability from an object of speculation closer to standard financial instruments such as loans. In this work, we initiate the study of secure protocols that enable fiat-denominated loans collateralized by cryptocurrencies such as Bitcoin. We provide limited-custodial protocols for such loans relying only on trusted arbitration and provide their game-theoretical analysis. We also highlight various interesting directions for future research. Schloss Dagstuhl – Leibniz-Zentrum für Informatik Pavel Hubáček and Jan Václavek and Michelle Yeo 2026 Is Part Of LIPIcs, Volume 361, 29th International Conference on Principles of Distributed Systems (OPODIS 2025) InProceedings Text doc-type:ResearchArticle publishedVersion application/pdf doi:10.4230/LIPIcs.OPODIS.2025.6 urn:nbn:de:0030-drops-251796 https://drops.dagstuhl.de/entities/document/10.4230/LIPIcs.OPODIS.2025.6 eng https://creativecommons.org/licenses/by/4.0/legalcode