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

• Privacy-Enhanced Payment Systems
  Agostino Capponi, Michael J. Lee, and Brian Z. Zhu
  Working Paper
  Coverage by the Global Risk Institute

• Auctioning Time to Mitigate Latency Races: Theory and Evidence from Blockchains
  Agostino Capponi and Brian Z. Zhu
  Working Paper

• From Pools to Books: Modeling DeFi Liquidity in TradFi Terms
  Agostino Capponi and Brian Z. Zhu
  Manuscript available upon request

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)