Paradigm
Dave White
Research Partner

Dave White

Dave White is a Research Partner at Paradigm. Previously, Dave was a quantitative trader and researcher at firms including Headlands, Two Sigma, and Cutler Group. He is three credits shy of an A.B. in Mathematics from Harvard University.

Written by Dave

Gradual Dutch Auctions

This paper introduces the Gradual Dutch Auction, or GDA, a mechanism that enables efficient sales of assets that do not have liquid markets. []

by Frankie, Dan, Dave, andy8052 on Apr 04, 2022

Constant Rate Issuance Sales Protocol

Introduction This paper introduces the Constant Rate Issuance Sales Protocol, or CRISP, a pricing mechanism that aims to sell NFTs at a targeted rate over time. If we want to sell 100 []

by Dave White, Frankie, Justin on Jan 25, 2022

RICKS

Introduction This paper introduces a new NFT fractionalization primitive: RICKS (Recurrently Issued Collectively Kept Shards). When you fractionalize an NFT into RICKS, the protocol mints new shards at a constant rate — []

by Dave White, andy8052, Dan on Oct 06, 2021

Martingale Shares

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 instead rely on []

by Dave White on Sep 14, 2021

Floor Perps

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. Floor perpetuals []

by Dave White on Aug 31, 2021

Power Perpetuals

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 ETH^5 power []

by Dave White, Dan, Zubin, Andrew, Alexis, Aparna on Aug 17, 2021

TWAMM

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, or TWAMM []

by Dave White, Dan, Hayden on Jul 28, 2021

Everlasting Options

Introduction This paper introduces a new type of derivative, the everlasting option. Everlasting options give traders long-term options exposure without the effort, risk, or expense of rolling positions. We derive a []

by Dave White, Sam on May 11, 2021

The Cartoon Guide to Perps

Illustrations by: Chelsea Myers About a month ago, I realized I didn’t understand perps. For the cost of \$1, a 100x bitcoin perp (short for “perpetual swap”) behaves like \$100 of bitcoin. This []

by Dave White on Mar 08, 2021

Joining Paradigm

It was the seventh month of quarantine, and DeFi was in the ascendant. One day, wandering the depths of crypto Twitter, I came across an open problem. Its author was finance []

by Dave White on Jan 18, 2021