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Bylines, paper authorship, correspondence addresses and the founder blurb under each post named an individual. They name the organisation that published the work instead: the brand on posts and pages, the research byline on papers, and research@ in place of a personal address. Both are what these repositories already used elsewhere — nothing new was coined. Co-authors are untouched. Where a paper named someone else alongside, they stay named; only the one byline changed. Bibliography entries, running heads, PDF metadata and affiliations move with it, so a citation still resolves to whoever the cited paper names. Sample and fixture data uses the placeholder name these tests already use elsewhere, so no assertion changed meaning.
68 lines
3.4 KiB
TeX
68 lines
3.4 KiB
TeX
\documentclass[11pt,a4paper]{article}
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\usepackage{../shared/luxcover}
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\usepackage[utf8]{inputenc}
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\usepackage[T1]{fontenc}
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\usepackage{amsmath,amssymb,amsfonts,amsthm}
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\usepackage{graphicx}
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\usepackage{hyperref}
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\usepackage{algorithm}
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\usepackage{algpseudocode}
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\usepackage{booktabs}
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\usepackage{multirow}
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\usepackage{array}
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\usepackage{xcolor}
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\usepackage{float}
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\usepackage{enumitem}
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\usepackage{mathtools}
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\newtheorem{theorem}{Theorem}
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\newtheorem{lemma}[theorem]{Lemma}
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\newtheorem{proposition}[theorem]{Proposition}
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\newtheorem{definition}{Definition}
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\newtheorem{corollary}[theorem]{Corollary}
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\newtheorem{remark}{Remark}
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\hypersetup{
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colorlinks=true,
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linkcolor=blue,
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citecolor=blue,
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urlcolor=blue
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}
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\title{\textbf{Liquid Staking on Lux: Tokenized Validator Positions\\with DeFi Composability}\\[6pt]
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\large Liquid Staking Tokens, Validator Abstraction, Slashing Insurance,\\DeFi Integration, and Yield Optimization Strategies}
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\author{
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Lux Research\thanks{Corresponding author: [email protected]}\\
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\textit{Lux Industries, Inc.}\\
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\texttt{[email protected]}
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}
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\date{2024}
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\begin{document}
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\luxcoverpage
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\begin{abstract}
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We present Lux Liquid Staking (LLS), a protocol that issues transferable ERC-20 tokens representing staked LUX positions, enabling holders to participate in DeFi while securing the network through Proof-of-Stake consensus. LLS introduces sLUX (staked LUX), a rebasing token whose balance automatically increases to reflect staking rewards, and wsLUX (wrapped staked LUX), a non-rebasing token whose exchange rate against LUX appreciates over time. We formalize the exchange rate dynamics, proving that the sLUX/LUX rate is monotonically non-decreasing under honest validator operation and bounded below by 1.0 minus the maximum slashing penalty. The protocol includes a slashing insurance pool funded by a 5\% fee on staking rewards, which absorbs up to 10\% loss before affecting sLUX holders. We analyze the DeFi composability properties of sLUX and wsLUX, including lending, liquidity provision, and collateralization, and prove that circular staking attacks (staking sLUX to mint more sLUX) are impossible under the protocol's design constraints. Simulation over 1,000 epochs demonstrates that LLS achieves 95\% capital efficiency (ratio of staking yield to opportunity cost) compared to 67\% for direct staking with a 14-day unbonding period, while maintaining equivalent network security properties. We further describe a cross-chain yield composition stack for Bitcoin: BTC bridged via Lux Teleport (LP-6332) earns from Babylon staking, Lombard rewards, D-Chain LP fees, lending supply, and bridge fee share, aggregated in the yLBTC vault (ERC-4626) and distributed through xLUX as the universal ecosystem yield token.
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\end{abstract}
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\input{sections/01-introduction}
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\input{sections/02-protocol-architecture}
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\input{sections/03-token-economics}
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\input{sections/04-validator-selection-and-abstraction}
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\input{sections/05-slashing-insurance}
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\input{sections/06-defi-composability}
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\input{sections/07-circular-staking-prevention}
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\input{sections/08-exchange-rate-dynamics}
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\input{sections/09-capital-efficiency-analysis}
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\input{sections/10-simulation-results}
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\input{sections/11-comparison-with-existing-protocols}
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\input{sections/12-related-work}
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\input{sections/13-accounting-and-reporting}
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\input{sections/14-governance-and-upgradability}
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\input{sections/99-conclusion}
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\end{document}
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