{"id":"https://openalex.org/W4304208336","doi":"https://doi.org/10.1109/brains55737.2022.9909090","title":"Debt-Financed Collateral and Stability Risks in the DeFi Ecosystem","display_name":"Debt-Financed Collateral and Stability Risks in the DeFi Ecosystem","publication_year":2022,"publication_date":"2022-09-27","ids":{"openalex":"https://openalex.org/W4304208336","doi":"https://doi.org/10.1109/brains55737.2022.9909090"},"language":"en","primary_location":{"id":"doi:10.1109/brains55737.2022.9909090","is_oa":false,"landing_page_url":"https://doi.org/10.1109/brains55737.2022.9909090","pdf_url":null,"source":null,"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"2022 4th Conference on Blockchain Research &amp; Applications for Innovative Networks and Services (BRAINS)","raw_type":"proceedings-article"},"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5060827983","display_name":"Michael Darlin","orcid":null},"institutions":[{"id":"https://openalex.org/I32971472","display_name":"Yale University","ror":"https://ror.org/03v76x132","country_code":"US","type":"education","lineage":["https://openalex.org/I32971472"]}],"countries":["US"],"is_corresponding":true,"raw_author_name":"Michael Darlin","raw_affiliation_strings":["Yale University,School of Management and Yale Institute for Network Science,USA","School of Management and Yale Institute for Network Science, Yale University, USA"],"affiliations":[{"raw_affiliation_string":"Yale University,School of Management and Yale Institute for Network Science,USA","institution_ids":["https://openalex.org/I32971472"]},{"raw_affiliation_string":"School of Management and Yale Institute for Network Science, Yale University, USA","institution_ids":["https://openalex.org/I32971472"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5040196236","display_name":"Georgios Palaiokrassas","orcid":"https://orcid.org/0000-0001-8573-1416"},"institutions":[{"id":"https://openalex.org/I32971472","display_name":"Yale University","ror":"https://ror.org/03v76x132","country_code":"US","type":"education","lineage":["https://openalex.org/I32971472"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Georgios Palaiokrassas","raw_affiliation_strings":["Yale University,Department of Electrical Engineering and Yale Institute for Network Science,USA","Department of Electrical Engineering and Yale Institute for Network Science, Yale University, USA"],"affiliations":[{"raw_affiliation_string":"Yale University,Department of Electrical Engineering and Yale Institute for Network Science,USA","institution_ids":["https://openalex.org/I32971472"]},{"raw_affiliation_string":"Department of Electrical Engineering and Yale Institute for Network Science, Yale University, USA","institution_ids":["https://openalex.org/I32971472"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5014892027","display_name":"Leandros Tassiulas","orcid":"https://orcid.org/0000-0003-0932-774X"},"institutions":[{"id":"https://openalex.org/I32971472","display_name":"Yale University","ror":"https://ror.org/03v76x132","country_code":"US","type":"education","lineage":["https://openalex.org/I32971472"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Leandros Tassiulas","raw_affiliation_strings":["Yale University,Department of Electrical Engineering and Yale Institute for Network Science,USA","Department of Electrical Engineering and Yale Institute for Network Science, Yale University, USA"],"affiliations":[{"raw_affiliation_string":"Yale University,Department of Electrical Engineering and Yale Institute for Network Science,USA","institution_ids":["https://openalex.org/I32971472"]},{"raw_affiliation_string":"Department of Electrical Engineering and Yale Institute for Network Science, Yale University, USA","institution_ids":["https://openalex.org/I32971472"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":3,"corresponding_author_ids":["https://openalex.org/A5060827983"],"corresponding_institution_ids":["https://openalex.org/I32971472"],"apc_list":null,"apc_paid":null,"fwci":3.4539,"has_fulltext":false,"cited_by_count":18,"citation_normalized_percentile":{"value":0.93142648,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":89,"max":99},"biblio":{"volume":null,"issue":null,"first_page":"5","last_page":"12"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10127","display_name":"Banking stability, regulation, efficiency","score":0.9819999933242798,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10127","display_name":"Banking stability, regulation, efficiency","score":0.9819999933242798,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10503","display_name":"Global Financial Crisis and Policies","score":0.9573000073432922,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11496","display_name":"Credit Risk and Financial Regulations","score":0.9514999985694885,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/collateral","display_name":"Collateral","score":0.8567498326301575},{"id":"https://openalex.org/keywords/debt","display_name":"Debt","score":0.6099119782447815},{"id":"https://openalex.org/keywords/financial-stability","display_name":"Financial stability","score":0.5286821722984314},{"id":"https://openalex.org/keywords/ecosystem","display_name":"Ecosystem","score":0.4761243462562561},{"id":"https://openalex.org/keywords/business","display_name":"Business","score":0.4541934132575989},{"id":"https://openalex.org/keywords/natural-resource-economics","display_name":"Natural resource economics","score":0.44172099232673645},{"id":"https://openalex.org/keywords/financial-system","display_name":"Financial system","score":0.40479809045791626},{"id":"https://openalex.org/keywords/environmental-science","display_name":"Environmental science","score":0.3559025526046753},{"id":"https://openalex.org/keywords/finance","display_name":"Finance","score":0.29481974244117737},{"id":"https://openalex.org/keywords/economics","display_name":"Economics","score":0.2899739444255829},{"id":"https://openalex.org/keywords/ecology","display_name":"Ecology","score":0.12761947512626648}],"concepts":[{"id":"https://openalex.org/C2777910564","wikidata":"https://www.wikidata.org/wiki/Q694563","display_name":"Collateral","level":2,"score":0.8567498326301575},{"id":"https://openalex.org/C120527767","wikidata":"https://www.wikidata.org/wiki/Q3196867","display_name":"Debt","level":2,"score":0.6099119782447815},{"id":"https://openalex.org/C2992337254","wikidata":"https://www.wikidata.org/wiki/Q31275820","display_name":"Financial stability","level":2,"score":0.5286821722984314},{"id":"https://openalex.org/C110872660","wikidata":"https://www.wikidata.org/wiki/Q37813","display_name":"Ecosystem","level":2,"score":0.4761243462562561},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.4541934132575989},{"id":"https://openalex.org/C175605778","wikidata":"https://www.wikidata.org/wiki/Q3299701","display_name":"Natural resource economics","level":1,"score":0.44172099232673645},{"id":"https://openalex.org/C73283319","wikidata":"https://www.wikidata.org/wiki/Q1416617","display_name":"Financial system","level":1,"score":0.40479809045791626},{"id":"https://openalex.org/C39432304","wikidata":"https://www.wikidata.org/wiki/Q188847","display_name":"Environmental science","level":0,"score":0.3559025526046753},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.29481974244117737},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.2899739444255829},{"id":"https://openalex.org/C18903297","wikidata":"https://www.wikidata.org/wiki/Q7150","display_name":"Ecology","level":1,"score":0.12761947512626648},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.1109/brains55737.2022.9909090","is_oa":false,"landing_page_url":"https://doi.org/10.1109/brains55737.2022.9909090","pdf_url":null,"source":null,"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"2022 4th Conference on Blockchain Research &amp; Applications for Innovative Networks and Services (BRAINS)","raw_type":"proceedings-article"}],"best_oa_location":null,"sustainable_development_goals":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":17,"referenced_works":["https://openalex.org/W2404740077","https://openalex.org/W2979507780","https://openalex.org/W3008256642","https://openalex.org/W3043060424","https://openalex.org/W3106122107","https://openalex.org/W3121936044","https://openalex.org/W3122025033","https://openalex.org/W3122258534","https://openalex.org/W3122926601","https://openalex.org/W3210902158","https://openalex.org/W4221166476","https://openalex.org/W4246501183","https://openalex.org/W4302282803","https://openalex.org/W6682732598","https://openalex.org/W6774551143","https://openalex.org/W6809618313","https://openalex.org/W6815259761"],"related_works":["https://openalex.org/W3124626177","https://openalex.org/W1545046617","https://openalex.org/W1494925915","https://openalex.org/W4243562399","https://openalex.org/W3125787423","https://openalex.org/W3121982030","https://openalex.org/W4299656551","https://openalex.org/W3144572689","https://openalex.org/W590617246","https://openalex.org/W3136798606"],"abstract_inverted_index":{"The":[0],"rise":[1],"of":[2,14,32,63,93],"Decentralized":[3],"Finance":[4],"(\u201cDeFi\u201d)":[5],"on":[6,84],"the":[7,12,30,61,79,90,103],"Ethereum":[8,44],"blockchain":[9],"has":[10],"enabled":[11],"creation":[13],"lending":[15,33,68],"platforms,":[16],"which":[17],"serve":[18],"as":[19,95],"marketplaces":[20],"to":[21,59,74],"lend":[22],"and":[23,53],"borrow":[24],"digital":[25],"currencies.":[26],"Initially,":[27],"we":[28,87],"categorize":[29],"activity":[31,49],"platforms":[34,69],"within":[35],"a":[36,55],"standard":[37],"regulatory":[38],"framework.":[39],"We":[40],"then":[41],"propose":[42],"an":[43],"address":[45],"grouping":[46],"algorithm":[47,58],"using":[48],"over":[50],"DeFi":[51,67,104],"protocols":[52],"employ":[54],"novel":[56],"classification":[57],"calculate":[60],"percentage":[62],"fund":[64],"flows":[65],"into":[66],"that":[70,89],"can":[71],"be":[72],"attributed":[73],"debt":[75],"created":[76],"elsewhere":[77],"in":[78,102],"system":[80],"(\u201cdebt-financed":[81],"collateral\u201d).":[82],"Based":[83],"our":[85],"results,":[86],"conclude":[88],"wide-spread":[91],"use":[92],"stablecoins":[94],"debt-financed":[96],"collateral":[97],"increases":[98],"financial":[99],"stability":[100],"risks":[101],"ecosystem.":[105]},"counts_by_year":[{"year":2026,"cited_by_count":1},{"year":2025,"cited_by_count":5},{"year":2024,"cited_by_count":7},{"year":2023,"cited_by_count":4},{"year":2022,"cited_by_count":1}],"updated_date":"2025-11-06T03:46:38.306776","created_date":"2025-10-10T00:00:00"}
