2 Search Results for "Feng, Qi"

Document
DOI: 10.4230/OASIcs.FAB.2021.5
Dynamic Curves for Decentralized Autonomous Cryptocurrency Exchanges

Authors: Bhaskar Krishnamachari, Qi Feng, and Eugenio Grippo

Published in: OASIcs, Volume 92, 4th International Symposium on Foundations and Applications of Blockchain 2021 (FAB 2021)

Abstract
One of the exciting recent developments in decentralized finance (DeFi) has been the development of decentralized cryptocurrency exchanges that can autonomously handle conversion between different cryptocurrencies. Decentralized exchange protocols such as Uniswap, Curve and other types of Automated Market Makers (AMMs) maintain a liquidity pool (LP) of two or more assets constrained to maintain at all times a mathematical relation to each other, defined by a given function or curve. Examples of such functions are the constant-sum and constant-product AMMs. Existing systems however suffer from several challenges. They require external arbitrageurs to restore the price of tokens in the pool to match the market price. Such activities can potentially drain resources from the liquidity pool. In particular dramatic market price changes can result in low liquidity with respect to one or more of the assets and reduce the total value of the LP. We propose in this work a new approach to constructing the AMM by proposing the idea of dynamic curves. It utilizes input from a market price oracle to modify the mathematical relationship between the assets so that the pool price continuously and automatically adjusts to be identical to the market price. This approach eliminates arbitrage opportunities and, as we show through simulations, maintains liquidity in the LP for all assets and the total value of the LP over a wide range of market prices.
Cite as

Bhaskar Krishnamachari, Qi Feng, and Eugenio Grippo. Dynamic Curves for Decentralized Autonomous Cryptocurrency Exchanges. In 4th International Symposium on Foundations and Applications of Blockchain 2021 (FAB 2021). Open Access Series in Informatics (OASIcs), Volume 92, pp. 5:1-5:14, Schloss Dagstuhl - Leibniz-Zentrum für Informatik (2021)

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@InProceedings{krishnamachari_et_al:OASIcs.FAB.2021.5,
  author =	{Krishnamachari, Bhaskar and Feng, Qi and Grippo, Eugenio},
  title =	{{Dynamic Curves for Decentralized Autonomous Cryptocurrency Exchanges}},
  booktitle =	{4th International Symposium on Foundations and Applications of Blockchain 2021 (FAB 2021)},
  pages =	{5:1--5:14},
  series =	{Open Access Series in Informatics (OASIcs)},
  ISBN =	{978-3-95977-196-2},
  ISSN =	{2190-6807},
  year =	{2021},
  volume =	{92},
  editor =	{Gramoli, Vincent and Sadoghi, Mohammad},
  publisher =	{Schloss Dagstuhl -- Leibniz-Zentrum f{\"u}r Informatik},
  address =	{Dagstuhl, Germany},
  URL =		{https://drops.dagstuhl.de/entities/document/10.4230/OASIcs.FAB.2021.5},
  URN =		{urn:nbn:de:0030-drops-139911},
  doi =		{10.4230/OASIcs.FAB.2021.5},
  annote =	{Keywords: Decentralized Exchange, Automated Market Maker, Decentralized Finance, Dynamic Curves}
}
Document
DOI: 10.4230/LIPIcs.CCC.2016.23
Understanding PPA-Completeness

Authors: Xiaotie Deng, Jack R. Edmonds, Zhe Feng, Zhengyang Liu, Qi Qi, and Zeying Xu

Published in: LIPIcs, Volume 50, 31st Conference on Computational Complexity (CCC 2016)

Abstract
We consider the problem of finding a fully colored base triangle on the 2-dimensional Möbius band under the standard boundary condition, proving it to be PPA-complete. The proof is based on a construction for the DPZP problem, that of finding a zero point under a discrete version of continuity condition. It further derives PPA-completeness for versions on the Möbius band of other related discrete fixed point type problems, and a special version of the Tucker problem, finding an edge such that if the value of one end vertex is x, the other is -x, given a special anti-symmetry boundary condition. More generally, this applies to other non-orientable spaces, including the projective plane and the Klein bottle. However, since those models have a closed boundary, we rely on a version of the PPA that states it as to find another fixed point giving a fixed point. This model also makes it presentationally simple for an extension to a high dimensional discrete fixed point problem on a non-orientable (nearly) hyper-grid with a constant side length.
Cite as

Xiaotie Deng, Jack R. Edmonds, Zhe Feng, Zhengyang Liu, Qi Qi, and Zeying Xu. Understanding PPA-Completeness. In 31st Conference on Computational Complexity (CCC 2016). Leibniz International Proceedings in Informatics (LIPIcs), Volume 50, pp. 23:1-23:25, Schloss Dagstuhl - Leibniz-Zentrum für Informatik (2016)

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@InProceedings{deng_et_al:LIPIcs.CCC.2016.23,
  author =	{Deng, Xiaotie and Edmonds, Jack R. and Feng, Zhe and Liu, Zhengyang and Qi, Qi and Xu, Zeying},
  title =	{{Understanding PPA-Completeness}},
  booktitle =	{31st Conference on Computational Complexity (CCC 2016)},
  pages =	{23:1--23:25},
  series =	{Leibniz International Proceedings in Informatics (LIPIcs)},
  ISBN =	{978-3-95977-008-8},
  ISSN =	{1868-8969},
  year =	{2016},
  volume =	{50},
  editor =	{Raz, Ran},
  publisher =	{Schloss Dagstuhl -- Leibniz-Zentrum f{\"u}r Informatik},
  address =	{Dagstuhl, Germany},
  URL =		{https://drops.dagstuhl.de/entities/document/10.4230/LIPIcs.CCC.2016.23},
  URN =		{urn:nbn:de:0030-drops-58310},
  doi =		{10.4230/LIPIcs.CCC.2016.23},
  annote =	{Keywords: Fixed Point Computation, PPA-Completeness}
}
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