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Bibliography

Research references and academic foundations of the ƒxyz Network

Arbitrage Algorithms & Graph Theory

On a routing problem
Richard Bellman1958Quarterly of Applied Mathematics, 16(1)
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Triangular Arbitrage, a Proposed Algorithm
Fernando A. Bender2020Working Paper
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Automated Triangular Arbitrage: A Trading Algorithm for Foreign Exchange on a Cryptocurrency Market
Sanghyun Bai, Fred Robinson2020KTH Royal Institute of Technology
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Triangular arbitrage in the spot and forward foreign exchange markets
Imad Moosa2001Quantitative Finance, 1(4)
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Deviations from Triangular Arbitrage Parity in Foreign Exchange and Bitcoin Markets
Julia Reynolds, Leopold Sögner, Martin Wagner2021Central European Journal of Economic Modelling and Econometrics
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Efficient Algorithms for the Longest Path Problem
Ryuhei Uehara, Yushi Uno2005Algorithms and Computation (ISAAC), Springer
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Digital Asset Trading & Arbitrage

Trading and Arbitrage in Cryptocurrency Markets
Igor Makarov, Antoinette Schoar2018SSRN Electronic Journal
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Key Roles of Crypto-Exchanges in Generating Arbitrage Opportunities
Audrius Kabašinskas, Kristina Šutienė2021Entropy (MDPI), 23(4)
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Cyclic Arbitrage in Decentralized Exchanges
Ye Wang, Yan Chen, Haotian Wu, Liyi Zhou, Shuiguang Deng, Roger Wattenhofer2021Working Paper
arXiv
Are Crypto Currencies Cryptic or a Source for Arbitrage? A Genetic Algorithm Approach
Van der Loerd, Bewaji, Hamid, Aerts, Byck, Heijmans2021Payments Canada / De Nederlandsche Bank
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An Exploration of Novel Trading and Arbitrage Methods within Decentralised Finance
Stephen Byrne2021Trinity College Dublin, School of Computer Science
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The Automated Equity-Split Cryptocurrency Arbitrage Strategy
Naratorn Boonpeam, Warodom Werapun, Tanakorn Karode, Esther Sangiamkul2021Songklanakarin J. Sci. Technol., 44(3)
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On Stablecoin Price Processes and Arbitrage
Ingolf Gunnar Anton Pernice2021Financial Cryptography and Data Security (FC 2021), Springer
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Cross-Chain Arbitrage: The Next Frontier of MEV in Decentralized Finance
arXiv2025arXiv (cs.CR)
arXiv
RICH: Real-time Identification of Negative Cycles for High-Efficiency Arbitrage
Bingqiao Luo, Jiaxin Jiang, Yuhang Chen, Junyi Hou2025VLDB, 18
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MEV Capture Through Time-Advantaged Arbitrage
Robin Fritsch et al.2024arXiv
arXiv

On-Chain FX & Stablecoins

On-Chain Foreign Exchange and Cross-Border Payments
Austin Adams, Mary-Catherine Lader, Gordon Liao, David Puth, Xin Wan2023SSRN Electronic Journal
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Stablecoin Runs and the Centralization of Arbitrage
Yiming Ma, Yao Zeng, Anthony Lee Zhang2023SSRN Electronic Journal
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On the Stability of Stablecoins
Klaus Grobys, Juha Junttila, James W. Kolari, Niranjan Sapkota2021Journal of Empirical Finance, 64
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The Technology of Retail Central Bank Digital Currency
Raphael Auer, Rainer Boehme2020BIS Quarterly Review
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Understanding Stablecoins
Tobias Adrian, Parma Bains, Marianne Bechara, Eugenio Cerutti et al.2025IMF Departmental Paper
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Project Rialto: Improving Instant Cross-Border Payments Using Central Bank Money Settlement
BIS Innovation Hub2025BIS Technical Report
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Financial Networks & Knowledge Graphs

Systemic Risk Management and Investment Analysis with Financial Network Analytics
Daning Hu, Gerhard Schwabe, Xiao Li2015Financial Innovation, 1(1)
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The Multiplex Nature of Global Financial Contagions
R. Maria del Rio-Chanona, Yevgeniya Korniyenko, Manasa Patnam, Mason A. Porter2020Applied Network Science, 5(1)
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A Time-Varying Network for Cryptocurrencies
Li Guo, Wolfgang Karl Härdle, Yubo Tao2022Journal of Business & Economic Statistics
arXiv
Building Knowledge Graphs: A Practitioner's Guide
Jesús Barrasa, Jim Webber2023O'Reilly Media
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InfraNodus: Generating Insight Using Text Network Analysis
Dmitry Paranyushkin2019ACM WWW Conference
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FinDKG: Dynamic Knowledge Graphs with Large Language Models for Detecting Global Trends in Financial Markets
Xiaohui Victor Li, Francesco Sanna Passino2024arXiv (q-fin.CP)
arXiv
DeFiGuard: A Price Manipulation Detection Service in DeFi using Graph Neural Networks
arXiv2024arXiv (cs.CR)
arXiv

Blockchain & Smart Contracts

Smart Contracts on the Blockchain – A Bibliometric Analysis and Review
Lennart Ante2021Telematics and Informatics, 57(101519)
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Anomaly Detection in Multiplex Dynamic Networks: From Blockchain Security to Brain Disease Prediction
Ali Behrouz, Margo Seltzer2022Working Paper
arXiv
Quantum Coins
Michele Mosca, Douglas Stebila2009arXiv (quant-ph)
arXiv

Governance & AI Agents

Integrating DAOs & Holacracy for Organizational Governance
Brian Robertson2022HolacracyOne Blog
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MemGPT: Towards LLMs as Operating Systems
Charles Packer, Vivian Fang, Shishir G. Patil, Kevin Lin, Sarah Wooders, Joseph E. Gonzalez2023arXiv (cs.AI)
arXiv
Analyzing Voting Power in Decentralized Governance: Who Controls DAOs?
Blockchain: Research and Applications2024Blockchain: Research and Applications, 5(3)
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A Review of DAO Governance: Recent Literature and Emerging Trends
P. Bolton et al.2025Journal of Corporate Finance
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Payment Systems & Transfer Networks

Constrained Liquidity Provision in Currency Markets
Wenqian Huang, Angelo Ranaldo, Andreas Schrimpf, Fabricius Somogyi2023BIS Working Papers
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The Use of Cryptocurrencies for Hawala in the Islamic Finance
Valeri M., Fondacaro R., De Angelis C., Barella A.2022European Journal of Islamic Finance
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What Is the Impact of Introducing a Parallel OTC Market?
Craig W. Holden, Dong Lu, Volodymyr Lugovskyy, Daniela Puzzello2021Journal of Financial Economics, 140(1)
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Research Philosophy

The ƒxyz Network is built upon decades of research in computer science, cryptography, economics, and network theory. We believe in standing on the shoulders of giants and contributing back to the academic community through open research and collaboration.

Our approach combines theoretical foundations with practical applications, ensuring that our innovations are both scientifically sound and practically useful. We regularly publish our findings and contribute to peer-reviewed conferences and journals.

Contributing Research

Research Areas

  • • Knowledge graph topology & ontology design
  • • Token economics & contribution scoring
  • • Privacy-preserving financial infrastructure
  • • Graph neural networks for financial networks