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Research Program

Systemic Risk in Crypto Markets

We build econometric models and vulnerability indices to track contagion risks, liquidity spirals, and the macro-financial integration of crypto-assets with traditional banking networks.

Program Lead

Dr. Alexandre Dubois

View Profile & Research Output →

Core Focus Areas

GDARI Framework

The Global Digital Asset Risk Index acts as our primary barometer, quantifying Volatility, Liquidity, Regulatory, and Systemic threats in real-time.

Contagion & Spillover Dynamics

Analyzing the pathways through which distress in major DeFi protocols or centralized exchanges impacts tradfi counterparty balance sheets.

Stablecoin Systemic Footprint

Monitoring reserve compositions, run risk, and the usage of prime US Treasury bills by major stablecoin issuers in the broader money markets.

Leverage & Liquidation Cascades

Evaluating the hidden leverage in DeFi lending protocols and the fragility induced by algorithmic liquidation mechanisms.

Research Methodology

Liquidity Stress Models

Simulating extreme market conditions and collateral fire sales to evaluate the absorptive capacity of automated market makers and centralized order books.

Network Contagion Models

Mapping interdependencies between major crypto lending protocols, stablecoin issuers, and prime brokers to predict domino effects during credit events.

Exchange Dependency Graphs

Analyzing concentration risks by tracking the flow of institutional liquidity and custody dependencies across the top tier-1 digital asset exchanges.

Key Databases & Frameworks

Institutional Indexing & Research Visibility

Google Scholar
SSRN Indexed
Zenodo / CERN

Digital Object Identifier (DOI): 10.5281/zenodo.dcm.research.2026.11