Julien Prat

Research Director at CNRS
and Associate Professor in Economics
at Ecole Polytechnique

Scientific papers

Chair courses

Publications & Outlooks

Contagion in Decentralized Lending Protocols: A Case Study of Compound

We study financial contagion in Compound V2, a decentralized lending protocol deployed on the Ethereum blockchain. We explain how to construct the balance sheets of Compound's liquidity pools and use...

The Economics of Constant Function Market Makers

We use microeconomic theory to describe the inner workings of Constant Function Market Makers (CFMMs). We show that standard results from consumer theory apply in this new context, endowing us with...

Central Bank Digital Currencies: the Quest for Public Digital Payment Infrastructures

Central Banks provide foundational public infrastructures for payments such as cash and gross settlement systems. In an evolving context, Central Bank Digital Currencies (CBDC) are efforts to leverage...

Tokens and Icos : a Review of the Economic Literature

Tokens and ICOs: A review of the Economic Literature, with Andrea Canidio, Vincent Danos and Stefania Marcassa, This article is a part of Principles of Blockchain Systems, Synthesis Lectures on...


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