Ariah Klages-Mundt (@aklamun) / X

Ariah Klages-Mundt

3,679 posts

Ariah Klages-Mundt

@aklamun

🏗️ 🧑‍🔬 @GyroStable. Decentralized finance, applied math, network science. Prev: PhD @Cornell, analytics MBS/ETFs/indices.

sites.google.com/view/aklamun

Joined September 2012

Pinned
Ariah Klages-Mundt
@aklamun
Oct 3, 2025
New research piece with @sschuldenzucker. It’s a clear indication that Gyro pools perform and LPs don’t get rekt, unlike a lot of other pools. A lot that didn't make it in either: - You can probably do even better with a gamma hedge. - 3-CLPs will let you conceivably 2x this!
Gyroscope
@GyroStable
Oct 2, 2025
How profitable are Gyro Dynamic CLPs? New simple measure: how much a delta-neutral LP makes in USD after hedging asset exposure. A new research piece backtests on real E-CLPs: - 134% APY from Dec '24 - Aug '25 - PnL growth in 73% of hours (87% of 30-day rolling periods) 🧵👇
3.1K
Ariah Klages-Mundt
@aklamun
May 23, 2021
The Terra UST stablecoin could collapse in a bank run effect. UST is backed by an endogenous collateral Luna. Current Luna marketcap has fallen to arguably < outstanding UST. We are now in a dangerous spiral: as users panic out of UST, this reinforces the Luna crash further.
Ariah Klages-Mundt
@aklamun
Jun 17, 2021
Iron, an under-collateralized-by-design stablecoin, is experiencing a bank run on its algorithmic/Titan portion, similarly to PegsUSD and Dollar Protocol before it. And similar to how Terra had a scare last month. And also a bit similar to Malt just last week
Ariah Klages-Mundt
@aklamun
Aug 27, 2024
Did @SkyEcosystem really just lose the @MakerDAO handle to some rando account?
43K
Ariah Klages-Mundt
@aklamun
May 23, 2021
Replying to @aklamun
In our research, we've consistently warned about risks in endogenous collateral, like what is materializing now. It's why I'm highly skeptical of seigniorage shares designs for a primary mechanism. Read more in our paper here 👉
arxiv.org
Stablecoins 2.0: Economic Foundations and Risk-based Models
Stablecoins are one of the most widely capitalized type of cryptocurrency. However, their risks vary significantly according to their design and are often poorly understood. We seek to provide a...
Ariah Klages-Mundt
@aklamun
Oct 4, 2023
Get ready for @GyroStable launching soon 👀
Eldar
@eldarcap
Oct 2, 2023
The only truly innovative stablecoin protocols that are trying new designs (not @LiquityProtocol for LST) that I found so far are : - @0xDYAD - @GyroStable - @InverseFinance Let me know if you know other protocols that are worth adding to this list.
13K
Ariah Klages-Mundt
@aklamun
Jun 12, 2019
Check out my work on modeling noncustodial #stablecoins "(In)Stability for the Blockchain: Deleveraging Spirals and Stablecoin Attacks". A foundational step in a scientific approach to stablecoin design. I will present at #CryptoValley #CVC19 June 25. arxiv.org/abs/1906.02152
Ariah Klages-Mundt
@aklamun
Nov 22, 2023
👀 GYD is coming @GyroStable
forum.balancer.fi
[BIP-491] Enable 3 GYD/stablecoin Gauges [Ethereum]
PR with Payload Summary This is a proposal to enable three uncapped Balancer gauges for Ethereum pools that provide liquidity against the Gyroscope stablecoin, GYD, namely: GYD/ sDAI, GYD/ USDC,...
12K
Ariah Klages-Mundt
@aklamun
Mar 12, 2023
7 of the largest 10 stablecoins depegged as a massive bank run effect rippled across crypto What happened and what are the lessons for the space: 🧵👇
26K
Ariah Klages-Mundt
@aklamun
Feb 29, 2024
Two major announcements coming from @GyroStable in March. You’ve already seen GYD stability and E-CLP efficiency. Watch out for these new pieces 👀
8.4K
Ariah Klages-Mundt
@aklamun
Jan 24, 2023
Proud to unveil Gyro Proto, the first live version of Gyroscope. Gyro Proto puts into production much of what we've been building over the last two years, including several innovations that we expect to persist as new staples in the space. Test it out now on Polygon 👇
Gyroscope
@GyroStable
Jan 24, 2023
Gyro Proto, a guarded version of the Gyroscope stablecoin, is now live for testing on Polygon. It showcases groundbreaking innovations in redemption mechanisms, liquidity concentration via @Balancer, and risk control. Test it out: app.gyro.finance/dsm
00:00
24K
Ariah Klages-Mundt
@aklamun
Jun 23, 2020
#Stablecoins & #DeFi 2.0: setting economic foundations for stablecoins, governance ($COMP), #DEXs, #crosschain and #synthetic assets (#cryptoeconomic researchers take note!) arxiv.org/abs/2006.12388 link.medium.com/WLLg9FOSy7 w/ @dominik0_ @ljfgudgeon @orbxball Andreea Minca
arxiv.org
Stablecoins 2.0: Economic Foundations and Risk-based Models
Stablecoins are one of the most widely capitalized type of cryptocurrency. However, their risks vary significantly according to their design and are often poorly understood. We seek to provide a...
Ariah Klages-Mundt
@aklamun
May 23, 2021
Replying to @aklamun
The Terra design is based on endogenous collateral, or seigniorage shares: the value of Luna derives in a ~self-fulfilling way from the anticipated usage of UST. While this brought benefits on the upside, it is now materializing in dangerous spirals on the downside.
Ariah Klages-Mundt
@aklamun
Mar 15, 2025
To put this growth in perspective: Gyroscope pools just launched on @SonicLabs and, in the last two weeks, generated swap fees 8x faster there alone than across all chains a year ago. And it's accelerating: Sonic TVL just 22x'd to 18M. @GyroStable x @beets_fi
Gyroscope
@GyroStable
Mar 14, 2025
Superliquidity, made simple. Gyroscope provides users with access to high organic swap and stablecoin yield. And it works, with total swap fees growing 169% YTD and protocol revenue reaching $2m+ annualized. Learn about Gyroscope's products👇
18K