Quantitative DeFi analysis, open by design.
Open methodology you can verify.
The math is open.
EchoLedger analysis is powered by defipy — our open-source DeFi analytics library, maintained on GitHub with 55,000+ downloads across two years. Full coverage of Uniswap V2 and V3, Balancer weighted pools, and Curve-style stableswaps.
The math isn’t proprietary. The library is open, and the analysis built on it is meant to be checked, not trusted: the right position selected, the data pulled cleanly, and the model run correctly the first time.
Every analysis cites the defipy functions used, links to the source, and is reproducible by anyone who wants to verify it.
PnL attribution
Decompose a position's return into fee income, impermanent loss, price exposure, swap costs, and gas. Powered by AnalyzePosition for V2/V3, AnalyzeBalancerPosition for weighted pools, AnalyzeStableswapPosition for Curve.
Risk decomposition
Quantify depeg exposure for stableswap LPs (AssessDepegRisk), IL trajectory under named price scenarios (SimulatePriceMove and variants), and exit slippage at the position's size.
Pool diagnostics
TVL trend, fee/volume ratio, liquidity stability, depth at notional sizes, and rug-signal screens (CheckPoolHealth, DetectRugSignals). Captures the operating health of the host pool, not just the position.
Slippage and price impact
Decompose slippage into pool-state impact and execution cost across V2/V3 (CalculateSlippage). Useful pre-entry, pre-exit, and for sizing rebalances.
Five years of peer-style research underpinning the practice.
Preprints on the math behind on-chain registries, provenance, agentic DeFi substrates, and gas-cost dynamics — published since 2021. The methodology behind EchoLedger’s analytics draws from this work.
- May 2021arXiv 2105.03521
Stochastic Properties of EIP-1559 Basefees
Ian C. Moore, Jagdeep Sidhu
Mathematical foundations for analyzing EIP-1559 base-fee dynamics as a stochastic process. Identifies the conditions under which gas-price outcomes behave as a stationary process and characterizes the regime boundaries.
Read on arXiv - April 2026arXiv 2604.03434
Trustless Provenance Trees: A Game-Theoretic Framework for Operator-Gated Blockchain Registries
Ian C. Moore
A formal treatment of provenance trees with operator-gated registration. Introduces a dual-layer cryptographic commitment scheme that makes false attribution a strictly dominated strategy, with honest behavior as the unique Nash equilibrium. Deployed on Base as AnchorRegistry.
Read on arXiv - May 2026arXiv 2605.11522
State Twins: An Off-Chain Substrate for Agentic Reasoning over Decentralized Finance Protocols
Ian C. Moore
Introduces the State Twin: a typed, in-memory, replayable off-chain substrate for agentic reasoning over AMM protocols. Decouples reasoning from chain time and admits operations on-chain state cannot — forking, replay, counterfactual rollout. Ships in DeFiPy v2 with a reference Model Context Protocol server exposing typed analytical primitives as LLM tools; the same primitive serves a notebook quant, a backtest, and an LLM agent without modification.
Read on arXiv - June 2026arXiv 2606.09593
Parent-Hash DAG: A Cost Analysis of Constant-Time Append for On-Chain Registries
Ian C. Moore, Fernando Paredes García
Formal and stochastic cost analysis of the two dominant append-only registry primitives. Establishes O(1) gas complexity for parent-hash DAG, derives closed-form moments for incremental Merkle tree per-insert cost, and locates the empirical crossover at depth 5–6 across deployments on Base.
Read on arXiv
Building toward agent-augmented analytics with operator sign-off — open methodology, human accountability, faster delivery. More on the direction in the arXiv paper and on Medium.
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