Collected writing and research from the Paradigm team

Martingale Shares

9.14.2021 | Dave White

Summary This paper introduces a new NFT primitive: Martingale shares, or "Mortys." Mortys are synthetics representing fractional ownership of classes of NFTs. They do not require buyouts or oracles, but [→]

The Community Garden: The Case for Leaving FAANG Companies for Crypto

9.1.2021 | Dan McCarthy

Software engineering culture has always leaned toward anti-authoritarianism. Many an engineer’s childhood reading list was full of books like Snow Crash and Neuromancer about lone hackers fighting back against enormous [→]

Floor Perps

8.31.2021 | Dave White

Overview This paper introduces the floor perpetual, a synthetic NFT that tracks the floor price of a given project and can be minted by locking up NFTs from that project. [→]

Two Rights Might Make A Wrong

8.17.2021 | samczsun

A common misconception in building software is that if every component in a system is individually verified to be safe, the system itself is also safe. Nowhere is this belief [→]

Power Perpetuals

8.17.2021 | Dave White, Dan Robinson, Zubin Koticha, Andrew Leone, Alexis Gauba, Aparna Krishnan

Introduction This paper introduces a new type of derivative, the power perpetual. If the price of ETH doubles, the ETH^2 power perp 4Xs, the ETH^3 power perp 8Xs, and the [→]

The Dangers of Surprising Code

8.13.2021 | samczsun

If you work in software engineering, odds are you've heard of at least one software engineering principle. While I wouldn't advocate for religiously following every principle to the letter, there [→]

TWAMM

7.28.2021 | Dave White, Dan Robinson, Hayden Adams

Introduction This paper introduces a new type of automated market maker, or AMM, that helps traders on Ethereum efficiently execute large orders. We call it the time-weighted average market maker, [→]

Ethereum Reorgs After The Merge

7.20.2021 | Georgios Konstantopoulos, Vitalik Buterin

There has recently been discussion about the possibility of miners adopting a hypothetical modified Ethereum client that allows them to essentially accept bribes to make a short reorg of the [→]

Expanding our Research Team

7.16.2021 | Matt Huang

At Paradigm, we have always been focused on finding special people, whether it’s the entrepreneurs we back, or the people we bring onto our team. We value slope over intercept, [→]

Joining Paradigm

7.6.2021 | Anish Agnihotri

I’m excited to announce that I’ve joined Paradigm as a Research Associate to help Fred Ehrsam, Matt Huang, and the rest of team Paradigm build the best crypto-native investment firm [→]