Research
Research
Decentralized Finance & Financial Technology
WORKING PAPERS
The Paradox of Just-in-Time Liquidity in Decentralized Exchanges: More Providers Can Lead To Less Liquidity
Agostino Capponi, Ruizhe Jia, and Brian Z. Zhu
Working Paper
Runner-Up: 2025 INFORMS Finance Section Student Paper Competition
Featured on Ava Labs Podcast
Selected presentations: The Latest in DeFi Research (TLDR), China International Conference in Finance
Privacy-Enhanced Payment Systems
Agostino Capponi, Michael J. Lee, and Brian Z. Zhu
Working Paper
Coverage by the Global Risk Institute
Selected presentations: Bank of Canada, Swiss National Bank, European Financial Association
Auctioning Time to Mitigate Latency Races: Theory and Evidence from Blockchains
Agostino Capponi and Brian Z. Zhu
Accepted, Economics and Computation 2026
Selected presentations: Designing DeFi (D^2), China International Conference in Finance
From Pools to Books: Modeling DeFi Liquidity in TradFi Terms
Agostino Capponi and Brian Z. Zhu
Working Paper
Selected presentations: Bloomberg Quant Seminar
CONFERENCE & WORKSHOP PROCEEDINGS
Quantifying the Value of Revert Protection
Brian Z. Zhu, Xin Wan, Ciamac C. Moallemi, Dan Robinson, and Brad Bachu
Financial Cryptography and Data Security 2025
What Drives Liquidity on Decentralized Exchanges?
Brian Z. Zhu, Dingyue Liu, Xin Wan, Gordon Liao, Ciamac C. Moallemi, and Brad Bachu
Cryptoasset Analytics Workshop @ FC 2025
Information Structures in Stablecoin Markets
Brian Z. Zhu
Decentralized Finance Workshop @ FC 2026
Machine Learning & Artificial Intelligence
WORKING PAPERS
Semantic Trading: Agentic AI for Clustering and Discovery in Prediction Markets
Agostino Capponi, Alfio Gliozzo, Brian Z. Zhu
Working Paper
PUBLICATIONS
Unsupervised machine learning reveals slab hydration variations from deep earthquake distributions beneath the northwest Pacific
Gilbert L. Mao, Thomas P. Ferrand, Jiaqi Li, Brian Z. Zhu, Ziyi Xi, Min Chen
Communications Earth and Environment, Vol. 3, Art. 56 (2022)