Formal Analysis of Lending Pools in Decentralized Finance

Massimo Bartoletti, James Chiang, Tommi Junttila, Alberto Lluch Lafuente*, Massimiliano Mirelli, Andrea Vandin

*Tämän työn vastaava kirjoittaja

Tutkimustuotos: Artikkeli kirjassa/konferenssijulkaisussaConference article in proceedingsScientificvertaisarvioitu

4 Sitaatiot (Scopus)

Abstrakti

Decentralised Finance (DeFi) applications constitute an entire financial ecosystem deployed on blockchains. Such applications are based on complex protocols and incentive mechanisms whose financial safety is hard to determine. Besides, their adoption is rapidly growing, hence imperilling an increasingly higher amount of assets. Therefore, accurate formalisation and verification of DeFi applications is essential to assess their safety. We have developed a tool for the formal analysis of one of the most widespread DeFi applications: Lending Pools (LP). This was achieved by leveraging an existing formal model for LPs, the Maude verification environment and the MultiVeStA statistical analyser. The tool supports several analyses including reachability analysis, LTL model checking and statistical model checking. In this paper we show how the tool can be used to analyse several parameters of LPs that are fundamental to assess and predict their behaviour. In particular, we use statistical analysis to search for threshold and reward parameters that minimize the risk of unrecoverable loans.

AlkuperäiskieliEnglanti
OtsikkoLeveraging Applications of Formal Methods, Verification and Validation. Adaptation and Learning - 11th International Symposium, ISoLA 2022, Proceedings
ToimittajatTiziana Margaria, Bernhard Steffen
KustantajaSpringer
Sivut335-355
Sivumäärä21
ISBN (painettu)978-3-031-19758-1
DOI - pysyväislinkit
TilaJulkaistu - 2022
OKM-julkaisutyyppiA4 Artikkeli konferenssijulkaisussa
TapahtumaInternational Symposium on Leveraging Applications of Formal Methods, Verification and Validation - Rhodes, Kreikka
Kesto: 22 lokak. 202230 lokak. 2022
Konferenssinumero: 11

Julkaisusarja

NimiLecture Notes in Computer Science
KustantajaSpringer
Vuosikerta13703 LNCS
ISSN (painettu)0302-9743
ISSN (elektroninen)1611-3349

Conference

ConferenceInternational Symposium on Leveraging Applications of Formal Methods, Verification and Validation
LyhennettäISoLA
Maa/AlueKreikka
KaupunkiRhodes
Ajanjakso22/10/202230/10/2022

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