arXiv subjects

Walter Hernandez Cruz

Publications and source records attributed to Walter Hernandez Cruz.

4 recordsLinked to original sources

arXiv2026

DLT-Corpus: A Large-Scale Text Collection for the Distributed Ledger Technology Domain

We introduce DLT-Corpus, the largest domain-specific text collection for Distributed Ledger Technology (DLT) research to date: 2.98 billion tokens from 22.12 million documents spanning scientific literature (37,440 publications), United States Patent and Trademark Office (USPTO) patents (49,023 filings), and social media (22 million posts). Existing Natural Language Processing (NLP) resources for DLT focus narrowly on cryptocurrency price prediction and smart contracts, leaving domain-specific language underexplored despite the sector's ~$3 trillion market capitalization and rapid technological evolution. We demonstrate DLT-Corpus' utility by analyzing patterns of technology emergence and market-innovation correlations. Findings reveal that technologies first appear in our scientific literature subset before reaching patents and social media, following traditional technology transfer patterns. While social media sentiment remains overwhelmingly bullish even during crypto winters, scientific and patent activity grows less tied to short-term sentiment, tracking overall market expansion in a virtuous cycle in which research precedes and enables economic growth that, in turn, funds further innovation. We release the DLT-Corpus and companion artifacts: LedgerBERT (+23% over BERT-base on DLT-specific Named Entity Recognition (NER) task), a sentiment analysis dataset of 23,301 crypto news headlines and descriptions, tools, and code.

cs.CL↗

arXiv2025

AMM-based DEX on the XRP Ledger

Automated Market Maker (AMM)-based Decentralized Exchanges (DEXs) are crucial in Decentralized Finance (DeFi), but Ethereum implementations suffer from high transaction costs and price synchronization challenges. To address these limitations, we compare the XRP Ledger (XRPL)-AMM-Decentralized Exchange (DEX), a protocol-level implementation, against a Generic AMM-based DEX (G-AMM-DEX) on Ethereum, akin to Uniswap's V2 AMM implementation, through agent-based simulations using real market data and multiple volatility scenarios generated via Geometric Brownian Motion (GBM). Results demonstrate that the XRPL-AMM-DEX achieves superior price synchronization, reduced slippage, and improved returns due to XRPL's lower fees and shorter block times, with benefits amplifying during market volatility. The integrated Continuous Auction Mechanism (CAM) further mitigates impermanent loss by redistributing arbitrage value to Liquidity Providers (LPs). To the best of our knowledge, this study represents the first comparative analysis between protocol-level and smart contract AMM-based DEX implementations and the first agent-based simulation validating theoretical auction mechanisms for AMM-based DEXs.

cs.CE↗

arXiv2025

Evolution of ESG-focused DLT Research: An NLP Analysis of the Literature

Distributed Ledger Technology (DLT) faces increasing environmental scrutiny, particularly concerning the energy consumption of the Proof of Work (PoW) consensus mechanism and broader Environmental, Social, and Governance (ESG) issues. However, existing systematic literature reviews of DLT rely on limited analyses of citations, abstracts, and keywords, failing to fully capture the field's complexity and ESG concerns. We address these challenges by analyzing the full text of 24,539 publications using Natural Language Processing (NLP) with our manually labeled Named Entity Recognition (NER) dataset of 39,427 entities for DLT. This methodology identified 505 key publications at the DLT/ESG intersection, enabling comprehensive domain analysis. Our combined NLP and temporal graph analysis reveals critical trends in DLT evolution and ESG impacts, including cryptography and peer-to-peer networks research's foundational influence, Bitcoin's persistent impact on research and environmental concerns (a "Lindy effect"), Ethereum's catalytic role on Proof of Stake (PoS) and smart contract adoption, and the industry's progressive shift toward energy-efficient consensus mechanisms. Our contributions include the first DLT-specific NER dataset addressing the scarcity of high-quality labeled NLP data in blockchain research, a methodology integrating NLP and temporal graph analysis for large-scale interdisciplinary literature reviews, and the first NLP-driven literature review focusing on DLT's ESG aspects.

cs.IR↗

arXiv2024

No Questions Asked: Effects of Transparency on Stablecoin Liquidity During the Collapse of Silicon Valley Bank

Fiat-pegged stablecoins are by nature exposed to spillover effects during market turmoil in Traditional Finance (TradFi). We observe a difference in TradFi market shocks impact between various stablecoins, in particular, USD Coin (USDC) and Tether USDT (USDT), the former with a higher reporting frequency and transparency than the latter. We investigate this, using top USDC and USDT liquidity pools in Uniswap, by adapting the Marginal Cost of Immediacy (MCI) measure to Uniswap's Automated Market Maker, and then conducting Difference-in-Differences analysis on MCI and Total Value Locked (TVL) in USD, as well as measuring liquidity concentration across different providers. Results show that the Silicon Valley Bank (SVB) event reduced USDC's TVL dominance over USDT, increased USDT's liquidity cost relative to USDC, and liquidity provision remained concentrated with pool-specific trends. These findings reveal a flight-to-safety behavior and counterintuitive effects of stablecoin transparency: USDC's frequent and detailed disclosures led to swift market reactions, while USDT's opacity and less frequent reporting provided a safety net against immediate impacts.

q-fin.TR↗