The 3rd Workshop on
Decentralized Finance

In Association with Financial Cryptography 2023

May 5, 2023

Bluesun Hotel Elaphusa
Bol, Brač, Croatia


Friday, May 5, 2023

Session 1: AMMs
Session Chair: Paul Pritz

Automated Market Makers: Mean-Variance Analysis of LPs Payoffs and Design of Pricing Functions.. Louis Bertucci, Philippe Bergault, David Bouba and Olivier Guéant.

How Do Trading Fees Affect Arbitrage Profits?. Jason Milionis, Ciamac C. Moallemi and Tim Roughgarden.

Inefficiency of CFMs: hedging perspective and agent-based simulations. Samuel Cohen, Marc Sabate Vidales, David Siska and Lukasz Szpruch.

10:30–11:00 Break
Location: TBC

Session 2: Security and Privacy
Session Chair: Patrick McCorry


Uniswap v3, or How I Learned To Stop Worrying And Love Concentrated Liquidity
Dan Robinson (Paradigm)

This talk will cover Uniswap v3, a decentralized exchange (DEX) with a hybrid architecture that incorporates elements from both automated market makers and central limit order books. We'll examine some controversial tradeoffs in DEX design by looking at "just-in-time" liquidity provision—an emergent feature of Uniswap v3—and discuss the implications for future directions in DEX research.

SoK: Privacy-Enhancing Technologies in Finance.. Carsten Baum, James Hsin-Yu Chiang, Bernardo David and Tore Kasper Frederiksen.

Differentially Private Market Mechanisms with Multiparty Computation. James Hsin-Yu Chiang, Bernardo David, Mariana Gama and Christian Janos Lebeda.

12:30–14:00 Lunch
Location: TBC

Session 3: DeFi Lending and Liquidity
Session Chair: Ariah Klages-Mundt

Short Squeeze in DeFi Lending Market: Decentralization in Jeopardy?. Lioba Heimbach, Eric Schertenleib and Roger Wattenhofer.

Uniswap Liquidity Provision: An Online Learning Approach.. Yogev Bar-On and Yishay Mansour.

Uniswap v3 TWAP Oracles in Proof of Stake. Austin Adams, Xin Wan and Noah Zinsmeister.

Foundations of Fiat-Denominated Loans Collateralized by Cryptocurrencies. Pavel Hubáček, Jan Václavek and Michelle Yeo.

15:30–16:00 Break
Location: TBC

Session 4: DeFi Analysis
Session Chair: Sam Werner

Vega Market Sim: A Protocol Analysis, Parameter Optimisation and Exploration Tool. Tom McLean and David Siska.

Concave Pro-rata Games.. Nicholas Johnson, Theo Diamandis, Alex Evans, Henry de Valence and Guillermo Angeris.

Electronic Cash with Open-Source Observers.. Taishi Higuchi and Akira Otsuka.

Decentralized Finance (DeFi) Auditing: Mechanisms, Effectiveness, and User Perceptions. Ding Feng, Rupert Hitsch, Kaihua Qin, Arthur Gervais, Roger Wattenhofer, Yaxing Yao and Ye Wang.