Over the last decade, the green shoots of a new economic order have emerged as
decentralized technologies challenge traditional financial systems. Decentralized finance …

We analyze the competitive dynamics between a decentralized financial system, called a
protocol for loanable funds (PLF), and a centralized financial system. A PLF primarily differs …

Ambiguities surrounding crypto-taxation allow traders to secure profits while avoiding taxes
by pledging their high-valued assets as collateral in Decentralized Finance (DeFi) lending …