11 min readKai Aldag
Market Making on Polymarket with an Options Pricing Anchor
Building an options-anchored ETH paper market maker and evaluating its fills against subsequent market prices, with lessons in execution, inventory, and risk.
Writing
Searching for alpha and intrigue in DeFi’s dark forest. Writings and research on market structure, on-chain systems, and whatever else fascinates me.
- 14 min readKai Aldag
A Reactive EVM Search Stack in Rust
Five Rust crates for event-driven arbitrage and liquidation search: maintain EVM state from logs, compare executable routes locally, and reject invalid transactions before submission.
- 26 min readKai Aldag
Sonic Liquidations: Unpriced Orderflow on Public Display
A DeFi trading case study on turning a concentrated Sonic lending-market anomaly into a levered carry trade, liquidation-path model, automated unwind, and event-driven short—and the governed endgame now forming.
- 13 min readKai Aldag
When a Stablecoin Pool Repriced BIFI
A receipt-level event study of how one USDC/mooBIFI pool transmitted an ETH rally across quote currencies, created hundreds of atomic arbitrages, and changed BIFI's marginal mark.
- 25 min readKai Aldag
Introducing fast-fill: instant cross-chain transfers on the bridge you already trust
A thin optimistic-fill layer on Circle CCTP v2 and LayerZero OFT: funds in seconds when a relayer fronts them, and never worse than the bridge if no one does. No escrow, no liquidity pool, no new trust assumption. Proven on mainnet.
- 10 min readKai Aldag
Single Sign: One Visible Signature, Many Verifiable Digests
Aggregate many signature requests into one visible message the user signs once, then use RISC Zero proofs to show any individual EIP-712/191 digest came from that signed data — ERC-1271-compatible, so protocols validate digests with no extra popups.
- 10 min readKai Aldag
Verifiable NFT Composition from IPFS Token URIs
A RISC Zero zkVM app that proves an NFT's off-chain IPFS metadata matches its on-chain tokenURI, then composes verified NFTs into new ones — our Best ZKVM Application winner at ZKHack Montreal.