Authors

Tarun Chitra, Alexandre Obadia, Alejo Salles, Lakshman Sankar, Vaibhav Chellani, Philip Daian

December 7, 2021

Research

Unity is Strength: A Formalization of Cross-Domain Maximal Extractable Value

Key Takeaways

Modular architectures are coming to maturity across the ecosystem to scale bandwidth and throughput of cryptocurrency. One example of such is the Ethereum modular architecture, with its beacon chain, its execution chain, its Layer 2s, and soon its shards.

This paper investigates whether there exists extractable value that depends on the ordering of transactions in two or more domains jointly.

It finds that Cross-Domain MEV can be used to measure the incentive for transaction sequencers in different domains to collude with one another, and studies the scenarios in which there exists such an incentive.

Research

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Read the full paper

Key Takeaways

Modular architectures are coming to maturity across the ecosystem to scale bandwidth and throughput of cryptocurrency. One example of such is the Ethereum modular architecture, with its beacon chain, its execution chain, its Layer 2s, and soon its shards.

This paper investigates whether there exists extractable value that depends on the ordering of transactions in two or more domains jointly.

It finds that Cross-Domain MEV can be used to measure the incentive for transaction sequencers in different domains to collude with one another, and studies the scenarios in which there exists such an incentive.

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Chapter title
  • By selecting the Gauntlet USDC Balanced on Mainnet, BTCS benefits from Gauntlet’s risk management systems and quantitative modeling to capture sustainable DeFi returns.
  • This latest collaboration supports BTCS’s goal of building sustainable DeFi strategies with their Imperium initiative to drive long-term value through 2026 and beyond. 
  • Public companies are increasingly targeting onchain DeFi strategies through Gauntlet Vaults, and digital asset companies like BTCS are leading the way.

Today, NASDAQ-listed BTCS Inc. announced that it has deployed funds into Gauntlet Vaults on Morpho, marking another step forward as the company expands its DeFi operations through its Imperium business line. Public companies are increasingly targeting onchain DeFi strategies through Gauntlet Vaults, and digital asset companies like BTCS are leading the way.

Gauntlet USDC Balanced on Mainnet is the first vault on Morpho to which BTCS has deployed funds. By selecting Gauntlet-curated vaults, BTCS benefits from Gauntlet’s risk management systems and quantitative modeling to capture sustainable DeFi returns.

<h2 chapter-beat="remove">Competitive yield strategies with USDC Balanced Vaults</h2>

Our Balanced Vaults run competitive strategies that allocate supply across a blend of large- and lower-cap collateralized markets while ensuring exposure to any one asset remains within defined risk parameters. All our vaults benefit from our robust curation framework, which includes rigorous due diligence, 24/7 liquidity and utilization monitoring, and continuous stress testing against volatility and liquidity shocks.

We equip investors, builders, and token issuers with data-driven strategies to confidently allocate over $1.7 billion onchain, leveraging eight years of cryptoeconomic research and quantitative modeling. Our risk models support top protocols in the space with over $48 billion in DeFi TVL.

This latest collaboration supports BTCS’s goal of building sustainable DeFi strategies with Imperium to drive long-term value through 2026 and beyond. 

Institutions are moving onchain with Gauntlet

Public companies and institutional treasuries are recognizing that the onchain economy offers capital efficiency with greater transparency and control through non-custodial systems. DeFi vaults have created a path for TradFi to access DeFi opportunities, backed by rigorous risk management and robust security.

BTCS joins leading institutions worldwide that deploy capital to Gauntlet Vaults and rely on our risk models. Read more about our institutional collaborations on VaultBook.

Public companies and institutional treasuries are recognizing that the onchain economy offers capital efficiency with greater transparency and control through non-custodial systems. DeFi vaults have created a path for TradFi to access DeFi opportunities, backed by rigorous risk management and robust security.

BTCS joins leading institutions worldwide that deploy capital to Gauntlet Vaults and rely on our risk models. Read more about our institutional collaborations on VaultBook.

Public companies and institutional treasuries are recognizing that the onchain economy offers capital efficiency with greater transparency and control through non-custodial systems. DeFi vaults have created a path for TradFi to access DeFi opportunities, backed by rigorous risk management and robust security.

BTCS joins leading institutions worldwide that deploy capital to Gauntlet Vaults and rely on our risk models. Read more about our institutional collaborations on VaultBook.

Public companies and institutional treasuries are recognizing that the onchain economy offers capital efficiency with greater transparency and control through non-custodial systems. DeFi vaults have created a path for TradFi to access DeFi opportunities, backed by rigorous risk management and robust security.

BTCS joins leading institutions worldwide that deploy capital to Gauntlet Vaults and rely on our risk models. Read more about our institutional collaborations on VaultBook.

Public companies and institutional treasuries are recognizing that the onchain economy offers capital efficiency with greater transparency and control through non-custodial systems. DeFi vaults have created a path for TradFi to access DeFi opportunities, backed by rigorous risk management and robust security.

BTCS joins leading institutions worldwide that deploy capital to Gauntlet Vaults and rely on our risk models. Read more about our institutional collaborations on VaultBook.

Public

Public companies and institutional treasuries are recognizing that the onchain economy offers capital efficiency with greater transparency and control through non-custodial systems. DeFi vaults have created a path for TradFi to access DeFi opportunities, backed by rigorous risk management and robust security.

BTCS joins leading institutions worldwide that deploy capital to Gauntlet Vaults and rely on our risk models. Read more about our institutional collaborations on VaultBook.

Public companies and institutional treasuries are recognizing that the onchain economy offers capital efficiency with greater transparency and control through non-custodial systems. DeFi vaults have created a path for TradFi to access DeFi opportunities, backed by rigorous risk management and robust security.

BTCS joins leading institutions worldwide that deploy capital to Gauntlet Vaults and rely on our risk models. Read more about our institutional collaborations on VaultBook.

Public companies and institutional treasuries are recognizing that the onchain economy offers capital efficiency with greater transparency and control through non-custodial systems. DeFi vaults have created a path for TradFi to access DeFi opportunities, backed by rigorous risk management and robust security.

BTCS joins leading institutions worldwide that deploy capital to Gauntlet Vaults and rely on our risk models. Read more about our institutional collaborations on VaultBook.

Public companies and institutional treasuries are recognizing that the onchain economy offers capital efficiency with greater transparency and control through non-custodial systems. DeFi vaults have created a path for TradFi to access DeFi opportunities, backed by rigorous risk management and robust security.

BTCS joins leading institutions worldwide that deploy capital to Gauntlet Vaults and rely on our risk models. Read more about our institutional collaborations on VaultBook.

Another heading

Public companies and institutional treasuries are recognizing that the onchain economy offers capital efficiency with greater transparency and control through non-custodial systems. DeFi vaults have created a path for TradFi to access DeFi opportunities, backed by rigorous risk management and robust security.

BTCS joins leading institutions worldwide that deploy capital to Gauntlet Vaults and rely on our risk models. Read more about our institutional collaborations on VaultBook.

Public companies and institutional treasuries are recognizing that the onchain economy offers capital efficiency with greater transparency and control through non-custodial systems. DeFi vaults have created a path for TradFi to access DeFi opportunities, backed by rigorous risk management and robust security.

BTCS joins leading institutions worldwide that deploy capital to Gauntlet Vaults and rely on our risk models. Read more about our institutional collaborations on VaultBook.

Public companies and institutional treasuries are recognizing that the onchain economy offers capital efficiency with greater transparency and control through non-custodial systems. DeFi vaults have created a path for TradFi to access DeFi opportunities, backed by rigorous risk management and robust security.

BTCS joins leading institutions worldwide that deploy capital to Gauntlet Vaults and rely on our risk models. Read more about our institutional collaborations on VaultBook.

Institutions are moving onchain with Gauntlet

Public companies and institutional treasuries are recognizing that the onchain economy offers capital efficiency with greater transparency and control through non-custodial systems. DeFi vaults have created a path for TradFi to access DeFi opportunities, backed by rigorous risk management and robust security.

BTCS joins leading institutions worldwide that deploy capital to Gauntlet Vaults and rely on our risk models. Read more about our institutional collaborations on VaultBook.

Research

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Read the full paper

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