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This comprehensive guide serves as an essential resource for navigating the complex and interdisciplinary field of token engineering, grounded in systems design and complex systems engineering. This article outlines the critical phases — System Requirements Analysis, System Analysis, and System Design — of developing decentralized crypto-economic systems. The guide also aligns these phases with established frameworks in both systems engineering and token-based ecosystem creation. Additionally, it provides a detailed breakdown of tasks, skills, and deliverables for each phase. Readers will not only gain a deep understanding of why token engineering is vital for sustainable digital economies but also practical insights into the process, tools, and experts shaping this dynamic field. Content Overview Introduction What is Token Engineering? Token Engineering Process System Requirements Analysis System Analysis System Design Summary Companies to Watch Online Communities Tools GitHub Courses Additional Resources Introduction In 2022, I started my journey in token engineering, with a background in mechatronics and robotics engineering. Over the past two years, I’ve gathered resources that I believe can guide others in navigating this emerging domain. This research has been significantly influenced by several key figures in the field. The conceptual framework for understanding draws heavily from ’s groundbreaking contributions, which define token engineering as both a Systems Design and a Complex Systems Engineering discipline. has played a key role in advancing the field of token engineering through TE Academy Platform and her initiatives, which include organizing research sessions, events like EthCC Barcamp, study groups, courses, and grants, while also assembling a global community of experts and enthusiasts in this field. , , and are other key figures whose valuable research has played a pivotal role in defining and establishing this emerging domain by emphasizing the centrality of token engineering to innovation and development within web3 ecosystems. Recognizing the intricate and interdisciplinary nature of this domain and the complex and diverse nature of topics, I’ve included a variety of resource links throughout the article to offer readers a deeper understanding of specific concepts. crypto-economic systems Michael Zargham Angela Kreitenweis Krzysztof Paruch Trent McConaghy Dr. Achim Struve What is Token Engineering? Definition Token engineering is the design, verification, and optimization of token-based complex economic systems Why Token Engineering Matters Token Engineering is not just about creating ; it’s a rigorous discipline that demands a comprehensive approach to designing decentralized systems. Just as traditional systems require meticulous planning, analysis, and design, token ecosystems too demand a rigorous process for their conception and realization. Whether you're gathering requirements or deploying each phase plays a critical role in ensuring that the decentralized system is not only technically sound but also economically viable and socially impactful. As we delve into the nuances of each phase, you'll see that Token Engineering is not merely a technical endeavor but a comprehensive approach to creating sustainable digital economies. digital assets smart contracts, In the contemporary landscape of blockchain-enabled decentralized and distributed economic systems, we’ll delve into the field of token engineering as an important part of the development of decentralized ecosystems, viewing it through the framework of systems design and situating it as a specialized subset of complex systems engineering. Token Engineering Process In this article, we’ll delineate the scope of the token engineering process within the framework of the three standard phases of the product development lifecycle. This token engineering process aligns closely with established frameworks in systems engineering, and also with Outlier Ventures’ , which includes the Discovery, Design, and Deployment phases. We’ll outline the requisite skills, the expected deliverables, and the essential tools for each phase to offer a comprehensive understanding of the field. structured framework of token-based ecosystems creation System Requirements Analysis System Analysis System Design System Requirements Analysis System requirements analysis is the first phase where we document the system requirements. Here, we define what the system is supposed to achieve. Stakeholders generally agree on these requirements before moving forward. This sets the stage for subsequent analysis, design, and development phases and serves as a point of reference for all stakeholders. The System Requirement Analysis phase is further divided into the following sub-steps/phases: System Requirements Gathering Requirements Analysis System Requirements Gathering In this step, high-level needs and constraints are collected from stakeholders (documented / verbal). The focus is on understanding what the stakeholders expect the system to achieve. This could include both functional and non-functional requirements like features, performance, security, and compliance. Process Primarily focused on identifying and detailing the features and functionalities the system must have. This phase often involves stakeholder interviews, use-case definitions, and the documentation of both functional and non-functional requirements. It answers questions like “What should the system do?” and “What are the constraints?” Conduct stakeholder interviews to gather needs and expectations. Document user stories or use cases. Identify functional and non-functional requirements (e.g., security, scalability). Components Functional Requirements (Features the system must have) Non-functional requirements (Performance, security, compliance with legal regulations such as anti-money laundering (AML) laws, etc.) Performance Requirements System Technical Requirements Specifications Use cases or user stories (Scenarios describing how the system will be used) Requirements Analysis After the initial gathering of system requirements, the second sub-step/phase of requirements analysis focuses specifically on examining and refining the project’s requirements by dissecting, validating, and prioritizing these requirements while documenting the functional and non-functional requirements of a system. The aim is to ensure that the requirements are specific, measurable, achievable, relevant, and time-bound (SMART). This involves clarification, prioritization, and validation activities. The refined requirements then become the basis for system analysis and system design. This step ensures that the requirements are unambiguous, complete, and aligned with the project’s goals. It ensures that all stakeholders have a mutual understanding of what the system is supposed to achieve. Requirements Analysis might answer: “What kind of staking rewards will incentivize network participation?” Components While system requirements analysis often starts with the gathering of initial requirements from stakeholders, the requirements analysis part dives deeper to scrutinize those requirements for clarity, completeness, feasibility, and relevance by: Ensuring that the gathered requirements are aligned with the project’s goals and stakeholders’ needs. Validation: : Deciding which requirements are must-haves versus nice-to-haves. Prioritization Breaking down high-level requirements into more detailed specifications. Clarification: Identifying and resolving conflicting requirements from different stakeholders. Conflict Resolution: The output of the requirements analysis process is often an updated and more detailed version of the Requirements Specification Document, which now includes prioritized, clarified, and validated requirements. Skills / Techniques Requirements Engineering Use-case modeling, user story mapping, and feature prioritization Mechanism Design and Game Theory Communication and Stakeholder Management Basic understanding of blockchain and Web3 concepts In the context of token ecosystems or blockchain projects, phase could involve mechanism design and game theory. These methods help in designing incentive structures, governance models, and other features that are crucial for decentralized systems. The focus here is on what mechanisms should be in place for the system to function as desired. Output/Deliverable A detailed document outlining what the system should do, often including mockups or wireframes. Requirements Specification Document: It includes both the initial requirements gathering and the more detailed Requirements Analysis. It outlines what the system is expected to do. The Requirements Specification Document focuses on the ‘what’ — what the system should achieve without detailing how it will do so. Example Let’s assume we’re building a Metaverse protocol that allows users to own, trade, and interact with digital assets in a virtual world. The requirements might include: User-owned digital assets (NFTs). A marketplace for trading assets. Virtual spaces for social interaction. Governance mechanisms for community decisions. Interoperability with other Metaverse protocols. Low latency and high performance. In system requirements analysis, we document these features and criteria that the Metaverse protocol must fulfill and duly scrutinize and refine these requirements. This stage sets the foundation and serves as a guideline for what the system is supposed to achieve System Analysis Once we know what the system is supposed to do, we proceed to analyze how it can be done and what challenges might arise. This step involves feasibility studies, risk management, stress testing, economic modeling, and sometimes, initial prototypes to validate key assumptions. The findings from this stage can refine or even alter the original requirements. System analysis also involves evaluating the existing similar systems and understanding various facets like user requirements, system limitations, and potential bottlenecks. It often includes analyzing the feasibility of the project in terms of technology and economics. It involves examining the implications of integrating with existing ecosystems or the potential for creating new systems. This phase, especially in complex systems like token ecosystems, involves to validate the feasibility and robustness of the mechanisms designed in the requirements analysis phase to validate assumptions about the system’s behavior, user incentives, and economic viability. These methods aim to foresee how the system will behave under different conditions. mathematical specification, differential specifications, state space representation, agent-based modeling and system dynamics modelling System Analysis might answer: “Will the staking mechanism stand up to extreme market volatility, and how will agents behave in such conditions?” System analysis aims to understand how to best implement the requirements and technical challenges associated with implementing those features and functionalities. This phase involves simulations, modeling, and other forms of validation to understand how the system can meet the defined requirements. It answers questions like “Is this technically feasible?” and “What are the potential risks?” Tasks Feasibility studies: Technical, economic, and operational viability. Preliminary modeling to validate assumptions or to understand system behavior. Risk assessment: Identifying potential bottlenecks, limitations or security risks. Modeling and Simulations: For behavioral modelling and user incentives design, to validate assumptions and understand system behavior. Skills / Techniques Mathematical Modelling (Mathematical Specifications, ) Differential Specifications ns State Space Representatio Statistical Modeling System Dynamics and Agent-Based Simulations Output/Deliverable Feasibility Report: Documenting the viability and risks associated with the project Updated Requirements: Modifications or refinements to the initial requirements based on analysis Mathematical and Differential Specifications of Mechanisms and System Mathematical (State Space Representations)and Statistical Models Simulations (Agent Based and System Dynamics) Example In this stage, we assess the feasibility and implications of the requirements. For our Metaverse example, this could include: Feasibility: Can current blockchain technology support the level of performance we need? Economic Model: How will the marketplace function economically? Are there any game-theoretical considerations for trading? User Behavior: How are users likely to interact with assets and each other? Stress Testing: How the agents will have behave in extreme conditions? Boundary Conditions: What worst can happen and how to avoid it? Security: What are the potential vulnerabilities that actors can exploit? System Design After understanding the requirements and completing the analysis, we move on to designing the architecture and components of the system. This stage results in a blueprint for building the actual system, including technology stack decisions, data models, and workflows. In the context of a decentralized system or a token ecosystem, System Design serves as the architectural blueprint that dictates how the system will be built and how its components will interact with each other. This phase comes after System Requirements Analysis and System Analysis have established what the system should do and verified that it’s feasible. Tasks Architectural design: Laying out the system’s high-level structure. Component design: Detailed design of each component, like smart contracts or APIs, Integrations. Data modeling: Deciding how data will be stored, accessed, and managed. Token Models, Strategies, KPIs, Skills Required Software Architecture Smart Contract Development Systems Engineering Verification and Optimization User Experience (UX) Design Output/Deliverable System Design Document: A comprehensive blueprint of the system architecture, components, data models, and interaction flows. The System Specification Document focuses on the ‘how’ — providing a blueprint for building the system. This document is more technical and is usually the output of the System Design phase. It outlines how the system will meet the requirements set forth in the Requirements Specification Document. The System Specification Document may include: Example After requirements are set and analyzed, we move on to system design to create the architecture that will satisfy these requirements. For our Metaverse protocol, this could involve: Blockchain Layer: Choosing between a layer 1 or layer 2 solution based on scalability needs. Smart Contracts: Designing the contracts that will handle asset ownership, trading, and governance. Tokenomics: Defining the role of tokens in incentivizing participation and governance. If we’ve determined in the Requirements Analysis that our token ecosystem needs a governance token, and the System Analysis has confirmed that such a mechanism is feasible, the System Design phase will specify: The smart contract code for minting and distributing governance tokens. Governance Structure, Quorum, Quorum Threshold, Voting Power etc. Summary These steps of product development are sequential but not strictly linear; they are often iterative and may loop back on each other. For example: Feedback Loops: During system analysis, you might discover that some requirements are not feasible or could be optimized, leading to a revision in the system requirements. Iterative Refinement: As the design progresses, new insights could necessitate revisiting the analysis or requirements stages. Agile Development: In agile frameworks, these steps might happen in smaller, iterative cycles rather than one large sequence, allowing for continual refinement. These phases are iterative and often loop back for refinements. For instance, during system design, you might realize a need to update requirements or re-analyze certain aspects, triggering a return to earlier phases. Each phase has its own set of specialized skills, but all contribute to the project’s ultimate goal: building a functional and effective Web3 system. Companies to Watch BlockScience Gauntlet TE Academy TE Labs Outlier Ventures TE Commons BlockApex Labs Tokenomia Pro Tokenomics DAO Economics Design CryptoEconLab Here is a list of companies indirectly contributing to the field of token engineering through valuable research: ConsenSys a16z Crypto Ocean Protocol Paradigm ChainLink Online Communities TE Academy Discord TE Labs Discord TE Academy Research Sessions TE Academy Study Groups Outlier Venture’s Discord Commons Stack Discord cadCAD Discord Twitter List Bonding Curve Research Group Tools The following is a list of tools commonly used in this domain, complete with links for further learning and understanding. Notable individuals working on these tools are also highlighted. Michael Zargham, , , , , , , , cadCAD study Group on TE Academy discord) cadCAD by BlockScience — Zanecstarr ( Introduction to cadCAD by Micheal Zargham Youtube Tutorials Model Walkthrough Model Structure Overview Study Group Modelling Process Community Forum — Machinations Curiousrabbit Eth radCAD by CADLabs , TokenSpice by Ocean Protocol Team — Trent McConaghy ( Verification of Token Based Systems Tools of verification ) QTM by Outlier Venture’s — Dr. Achim Struve QTM radCAD Integration (Ongoing) — Dr. Achim Struve (Ongoing) — Bonding curve Research Curiousrabbit Eth AI-powered Token Engineering (Ongoing) — Rohan Mehta GitHub Beyond the GitHub repositories for tools and models cited in this article, the following additional GitHub repositories are worth exploring. https://github.com/CADLabs https://github.com/BlockScience https://github.com/bonding-curves https://github.com/Jeiwan/uniswapv3-code/tree/main https://github.com/backstop-protocol/whitepaper/blob/master/Risk Analysis Framework.pdf https://github.com/A-Hitchhiker-s/Guide-to-Token-Engineering/tree/master Courses TE Academy Course Software Architecture & Design of Modern Large Scale Systems cadCAD Masterclass: Ethereum Validator Economics Additional Resources In addition to the numerous resources referenced throughout this article, the following additional materials can further deepen your understanding of this complex field. — Compiled Notes Token Engineering 101 Economics and Math of Token Engineering and Defi Tokenomics and blockchain tokens: A design-oriented morphological framework Token Ecosystem Creation Framework by Outlier Ventures g by Micheal Zargham Complex Systems Engineerin Also published . here

Token Engineering: A Blueprint for Building Sustainable Decentralized Economies

টোকেন ইঞ্জিনিয়ারিং—টেকসই বিকেন্দ্রীভূত অর্থনীতি গড়ে তোলার জন্য একটি ব্লুপ্রিন্ট

Token Engineering – Eine Blaupause für den Aufbau nachhaltiger dezentraler Volkswirtschaften

Ingeniería de tokens: un plan para construir economías descentralizadas sostenibles

Ingénierie des jetons : un modèle pour construire des économies décentralisées durables

टोकन इंजीनियरिंग- टिकाऊ विकेंद्रीकृत अर्थव्यवस्थाओं के निर्माण के लिए एक खाका

トークンエンジニアリング—持続可能な分散型経済を構築するための青写真

토큰 엔지니어링 - 지속 가능한 분산 경제 구축을 위한 청사진

Engenharia de Tokens – Um Projeto para Construir Economias Descentralizadas Sustentáveis

Разработка токенов — план построения устойчивой децентрализованной экономики

Token Mühendisliği—Sürdürülebilir Merkezi Olmayan Ekonomiler Oluşturmak için Bir Taslak

Kỹ thuật mã thông báo—Kế hoạch chi tiết để xây dựng nền kinh tế phi tập trung bền vững

代币工程——构建可持续去中心化经济的蓝图

Liquidity provisioning in Uniswap V3 presents a stochastic optimal control problem with a well-defined utility function to maximize. This article introduces an innovative framework for intelligent liquidity provisioning, utilizing a combination of agent-based modeling and reinforcement learning. Our framework provides a robust and adaptive solution for optimizing liquidity provisioning strategies. The Uniswap V3 model mimics real-world market conditions, while the agent-based model (ABM) creates an environment for simulating agent interactions with Uniswap V3 pools. The reinforcement learning agent, trained using deep deterministic policy gradients (DDPG), learns optimal strategies, showcasing the potential of machine learning in enhancing DeFi participation. This approach aims to improve liquidity providers’ profitability and understanding of CFMM markets. Content Overview Introduction Intelligent liquidity provisioning framework Components of Intelligent Liquidity Provisioning Framework Agent-based simulator Reinforcement Learning Model Limitations Future Work Conclusion Resources References Introduction In my previous article on market making we explored the mechanics and strategies of market making in traditional financial markets. Building upon those insights, this article introduces an innovative framework for intelligent liquidity provisioning in the context of Uniswap V3. As mentioned in our prior research, our goal was to extend our understanding of market dynamics and liquidity management in decentralized finance ( , specifically through the development of the Intelligent Liquidity Provisioning Framework. [Market Making Mechanics and Strategies], DeFi) Decentralized finance (DeFi) has undergone remarkable growth, introducing innovative financial products and services accessible to a global audience. Uniswap V3, at the forefront of this innovation, has revolutionized liquidity provisioning with its concentrated liquidity feature. However, this advancement brings forth complex decision-making challenges for liquidity providers. This article introduces a comprehensive framework designed to address these challenges, offering a simulated environment for studying and optimizing liquidity provisioning strategies. Our framework comprises three key components: the Uniswap V3 model, an agent-based model (ABM), and a reinforcement learning agent. The Uniswap V3 model provides a representation of the pool, enabling the deployment and interaction with tokens and pools. The ABM introduces complexity by simulating agent interactions and market dynamics, creating a rich environment for strategy evaluation. The reinforcement learning agent, operating within this environment, adopts a deep deterministic policy gradient approach to learn and adapt strategies, aiming for optimal performance in liquidity provisioning. This research aims to develop an intelligent liquidity provisioning (ILP) mechanism using reinforcement learning (RL) to autonomously manage and optimize liquidity within the Uniswap V3 environment. The mechanism seeks to maximize the utility function, considering fees earned, impermanent loss, and other metrics based on liquidity providers’ preferences while adapting to the complex dynamics of the CFMM market. Intelligent Liquidity Provisioning Framework In the RL framework, the liquidity provisioning problem is formulated as a Markov Decision Process (MDP). The MDP consists of states, actions, and rewards. States represent the current market conditions, including asset prices, trading volumes, and other relevant variables. States: Actions correspond to the decisions made by the liquidity provider, such as adjusting liquidity allocations, rebalancing portfolios, etc. Actions: Rewards quantify the desirability of the outcomes based on the liquidity provider’s objective function, preferences, and constraints. The rewards can be positive for desirable outcomes (e.g., high returns) and negative for undesirable outcomes (e.g., high risk or underperformance). Rewards: The objective function represents the liquidity provider’s desired outcome, which can be a combination of factors like maximizing returns, minimizing risks, or achieving a specific trade-off between the two. Constraints can include limitations on liquidity allocations, capital utilization, risk tolerance levels, or other restrictions defined by the liquidity provider. Objective Function: RL training is an iterative process where the agent continuously updates its policy based on feedback. The agent learns from its experiences and refines its decision-making over time, gradually converging to more optimal liquidity provisioning strategies. Once the RL agent has been trained, it can be tested and evaluated using historical data or simulated environments to assess its performance against the liquidity provider’s objective function and constraints. The agent’s performance can be measured using metrics like returns, risk measures, or other relevant performance indicators. By applying RL algorithm, the liquidity provisioning mechanism can learn and adapt to changing market conditions, identify optimal liquidity provision strategies, and balance constraints and preferences specified by the liquidity provider. RL enables the mechanism to find solutions that maximize the liquidity provider’s objective function, considering various trade-offs and constraints autonomously and dynamically. Components of Intelligent Liquidity Provisioning Framework The framework comprises three major components: UniswapV3 Model The Uniswap V3 model implemented in Python offers a detailed and functional simulation of the Uniswap V3 protocol, capturing its nuanced mechanics and providing users with a comprehensive toolset for interacting with the protocol. The UniswapV3_Model class handles the deployment of tokens and pools, initializes pools, and provides an interface for pool actions and pool state retrieval. Overview The Uniswap Model serves as the foundation of the Intelligent Liquidity Provisioning Framework, encapsulating the core mechanics of Uniswap V3. It leverages compiled smart contracts from Uniswap’s V3-Core, deployed in a local Ganache environment using brownie, to create a realistic and interactive simulation. Contract Compilation and Deployment The framework integrates with Brownie, a Python-based development and testing framework for smart contracts, to compile and deploy the Uniswap V3 smart contracts. These contracts are then deployed to a local Ganache environment, providing a sandbox for testing and development. This setup ensures that users can interact with the Uniswap environment without the need for real assets or network transactions, fostering a safe and controlled experimentation space. Agent-Based Simulator is used to simulate the Uniswap V3 environment, agent policies are defined to incorporate the dynamics of Uniswap market participants. Different types of agents are used to simulate the dynamic Uniswap environment Tokenspice agent-based simulator Introduction simulates the actions and interactions of individual agents within the Uniswap V3 ecosystem. By modeling the complex behaviors of different participants, the ABM provides a comprehensive interface of Uniswap V3 dynamic environment, enabling the analysis and optimization of liquidity provisioning strategies. Tokenspice Agent-Based Model (ABM) Agent Types and Behaviors The ABM includes various agent types, each representing a specific role within the Uniswap V3 ecosystem. The two main agents are the Liquidity Provider Agent and the Swapper Agent, which interact with the Uniswap pools to provide liquidity and perform token swaps, respectively. The behavior of these agents is dictated by policies defined in the file, ensuring that their actions are aligned with real-world strategies and market conditions. agents_policies.py This agent adds and removes liquidity from the Uniswap pools. It follows a set of policies that dictate its actions based on the current state of the market and the agent’s preferences. Liquidity Provider Agent: The Swapper Agent performs token swaps within the Uniswap pools, taking advantage of price discrepancies and arbitrage opportunities. Its behavior is guided by policies that assess the potential profitability of trades, considering transaction fees and slippage. Swapper Agent: Simulation Configuration and Execution The file is central to the ABM, configuring how agents interact with each other and with the Uniswap pools. It defines the relationships between agents, policies, and the simulation environment. netlist.py The , , and modules provide the foundational elements for running simulations. The SimEngine orchestrates the simulation, managing the flow of time and the execution of agent actions. The SimStateBase maintains the current state of the simulation, storing data on agent holdings, pool states, and other relevant variables. The SimStrategyBase defines the overarching strategies that guide agent behavior throughout the simulation. SimEngine.py SimStateBase.py SimStrategyBase.py Reinforcement Learning Model Introduction The Reinforcement Learning (RL) Agent is a pivotal component of the Intelligent Liquidity Provisioning Framework, designed to interact with the Uniswap V3 ecosystem through Uniswap Model an agent-based model. This section delves into the RL Agent, its environment, and the DDPG (Deep Deterministic Policy Gradient) algorithm used for training. RL Agent Environment The RL Agent operates in a custom environment, , which interfaces with the Uniswap model and the agent-based model to simulate the DeFi market. This environment facilitates the agent’s interaction with Uniswap pools, allowing it to add and remove liquidity, and observe the consequences of its actions. The RL Agent interacts with the Uniswap model and ABM to simulate real-world liquidity provisioning in Uniswap V3. It chooses actions that result in adding or removing liquidity, with policies and simulation configuration defined in the ABM, ensuring realistic interactions. DiscreteSimpleEnv The environment’s state space includes various market indicators such as the current price, liquidity, and fee growth. These parameters are normalized and provided to the agent at each timestep. State Space: The agent’s action space consists of continuous values representing the price bounds for adding liquidity to a Uniswap pool. These actions are translated into interactions with the Uniswap pools, affecting the state of the environment. Action Space: The reward function is crucial for training the RL Agent. It takes into account the fee income, impermanent loss, portfolio value, and potential penalties, providing a scalar reward signal to guide the agent’s learning process. Reward Function: DDPG Agent The DDPG Agent is a model-free, off-policy actor-critic algorithm using deep function approximators. It can handle high-dimensional state spaces and continuous action spaces, making it well-suited for our Uniswap V3 environment. This network is responsible for providing the best-believed action given a state. It has a sigmoid output layer, outputting relative values for and which are then scaled to the desired range in agent env, representing the price bounds for adding liquidity. Actor Network: price_lower price_upper This network evaluates the action value function, estimating the expected return of taking an action in a given state. Critic Network: DDPG employs target networks for both the actor and critic, which are slowly updated to stabilize training. Target Networks: This technique is used to store a replay buffer of past experiences, allowing the agent to learn from a diverse set of samples, breaking correlations in observations, and smoothing out learning. Experience Replay: Interaction with Uniswap Model and ABM The RL Agent leverages the Uniswap model and agent-based model to simulate real-world liquidity provisioning in Uniswap V3. It interacts with the Uniswap pools through the , performing actions that result in adding or removing liquidity. The agent’s policies and the simulation configuration are defined in the ABM component, ensuring a realistic and coherent dynamic environment. DiscreteSimpleEnv The agent is trained over a series of episodes, each representing a different market scenario (different pool). The agent’s performance is evaluated based on its ability to maximize returns while minimizing risks associated with liquidity provisioning. The effectiveness of the Intelligent Liquidity Provisioning Framework is assessed through the evaluation of the reinforcement learning (RL) agent’s performance. Train and Evaluate Agent: To evaluate the RL agent, we set up a specialized evaluation environment, , which extends the base environment, . This environment is tailored for the evaluation of agent policies. Environment Setup: DiscreteSimpleEnvEval DiscreteSimpleEnv In our evaluation setup, we compare the RL agent’s performance against that of a baseline agent. The baseline agent’s actions are determined by a baseline policy that relies on the current state of the liquidity pool. This agent aims to provide a reference point for evaluating the RL agent’s performance. Baseline Agent: Results Training Evaluation Limitations Currently, the framework does not fully capture the real-time synchronization of pools, which can lead to discrepancies in modeling real Uniswap V3 dynamics. Future work should focus on incorporating mechanisms for better pool synchronization, potentially utilizing tick/position data or events to enhance realism. Pools Synchronization: The agent policies employed in the current framework are relatively simple and naive. To achieve more accurate simulations, future iterations should aim to define more comprehensive agent policies. These policies could model various types of Uniswap agents, such as noise traders, informed traders, retail liquidity providers, and institutional liquidity providers. Alternatively, statistical models trained on historical pool data can inform agent policies for more realistic behavior. Naive Agent Policies: The observation space provided to the agents lacks comprehensive information about the state of the pool. To improve decision-making capabilities, future enhancements should include tick and position data, along with engineered features that offer agents a more comprehensive understanding of the pool’s status. Sparse Observation Space: The action space for agents is currently constrained, with fixed liquidity amounts and restricted price range bounds. Expanding the action space to allow for more flexibility in liquidity provision, as well as considering multiple positions per step, can enhance the fidelity of the simulations. Limited Action Space: Future Work Agent Environment: Implement mechanisms to synchronize pools, possibly using tick/position data or events, to create more realistic dynamics in the Uniswap V3 environment. Synced Pools: Actor/Critic Network Architecture, alpha, beta, tau, batch size, steps, episodes, scaling parameters (rewards, actions, observation space) Hyperparameter Tuning: Define more sophisticated analytical policies that accurately model various Uniswap agents or utilize statistical models trained on historical pool data to inform agent behavior. Comprehensive Agent Policies: Enhance the observation space by including tick and position data, and engineer features that provide agents with a comprehensive view of the pool’s state. Informative Observation Space: Develop an improved reward function that accounts for a wider range of factors, leading to more effective agent training. Improved Reward Function: Instead of one position with a fixed budget at each timestep, implement a more comprehensive mechanism in which the agent is allocated a budget once at the start of the simulation and then learns to use this budget optimally in subsequent steps. Multiple Positions: Define more comprehensive baseline policies to evaluate the performance of the RL agent Baseline Policies: Agent Algorithm Further refine and optimize the hyperparameters of the reinforcement learning agent for better training performance. Hyperparameter Tuning: Explore alternative RL agent models, such as Proximal Policy Optimization (PPO) or Soft Actor-Critic (SAC), to determine if they offer advantages in specific scenarios. Experimentation with Other RL Agents: Investigate the application of multi-agent reinforcement learning techniques, which can be beneficial for modeling interactions among multiple liquidity providers and swappers. Multi-Agent RL (MARL): Implement online learning strategies that allow agents to adapt to changing market conditions in real time, providing a more dynamic and adaptive liquidity provisioning solution. Online Learning: Conclusion In the rapidly evolving landscape of decentralized finance (DeFi), liquidity provisioning plays a pivotal role in enabling efficient and secure trading. Uniswap V3, with its innovative concentrated liquidity feature, has pushed the boundaries of what is possible in DeFi liquidity management. However, the complexities of optimizing liquidity provisioning strategies within this dynamic ecosystem require innovative solutions. Our Intelligent Liquidity Provisioning Framework represents a significant step forward in addressing these challenges. By combining agent-based modeling and reinforcement learning, we have created a powerful toolkit for liquidity providers and market participants. This framework offers a robust and adaptive solution for optimizing liquidity provisioning strategies, with a focus on maximizing utility functions that encompass fees earned, impermanent loss mitigation, and other metrics tailored to individual preferences. Resources Github: https://github.com/idrees535/Intelligent-Liquidity-Provisioning-Framework-V1 References https://kth.diva-portal.org/smash/get/diva2:1695877/FULLTEXT01.pdf https://arxiv.org/pdf/2305.15821.pdf https://github.com/KodAgge/Reinforcement-Learning-for-Market-Making/tree/main https://arxiv.org/ftp/arxiv/papers/2211/2211.01346.pdf https://arxiv.org/pdf/2004.06985.pdf https://ieeexplore.ieee.org/stamp/stamp.jsp?arnumber=9682687 https://journals.plos.org/plosone/article?id=10.1371/journal.pone.0277042 https://deliverypdf.ssrn.com/delivery.php?ID=104119098102026014120072084014107007042068069003049020126088025087121115103007084028042013055035009000054122074096068089064070102052026003014069082076098016080066026088066039027093020006122067093104092065070020126069068106118079127088008098077106031120&EXT=pdf&INDEX=TRUE https://medium.com/blockapex/market-making-mechanics-and-strategies-4daf2122121c https://www.gauntlet.xyz/resources/uniswap-user-cohort-analysis https://gov.uniswap.org/t/uniswap-incentive-design-analysis/21662 https://arxiv.org/pdf/2108.07806.pdf https://www.researchgate.net/publication/341848292_Market_makers_activity_behavioural_and_agent_based_approach https://fruct.org/publications/volume-29/fruct29/files/Struc.pdf https://www.arxiv-vanity.com/papers/1911.03380/ https://insights.glassnode.com/the-week-onchain-week-31-2023/ Also published . here

A Detailed Framework for Intelligent Liquidity Provisioning in Uniswap V3 

Uniswap V3-এ বুদ্ধিমান তারল্য বিধানের জন্য একটি বিস্তারিত কাঠামো

Ein detailliertes Framework für die intelligente Liquiditätsbereitstellung in Uniswap V3

Un marco detallado para el aprovisionamiento inteligente de liquidez en Uniswap V3

Un cadre détaillé pour l'approvisionnement intelligent en liquidités dans Uniswap V3

Uniswap V3 में बुद्धिमान तरलता प्रावधान के लिए एक विस्तृत रूपरेखा

Uniswap V3 におけるインテリジェントな流動性プロビジョニングの詳細なフレームワーク

Uniswap V3의 지능형 유동성 프로비저닝을 위한 세부 프레임워크

Uma estrutura detalhada para provisionamento inteligente de liquidez no Uniswap V3

Подробная структура интеллектуального предоставления ликвидности в Uniswap V3

Uniswap V3'te Akıllı Likidite Tedariği için Ayrıntılı Bir Çerçeve

Khung chi tiết để cung cấp thanh khoản thông minh trong Uniswap V3

Uniswap V3 智能流动性配置的详细框架

A Floating City and The Blockade Runners by Jules Verne is part of the HackerNoon Books Series. Read this book online for free on HackerNoon! A Floating City and The Blockade Runners Title: Jules Verne Author: April 14, 2022 [eBook #67829] Release Date: English Language: TABLE OF LINKS Part 1: A Floating City Chapter I. Chapter II. Chapter III. Chapter IV. Chapter V. Chapter VI. Chapter VII. Chapter VIII. Chapter IX. Chapter X. Chapter XI. Chapter XII. Chapter XIII. Chapter XIV. Chapter XV. Chapter XVI. Chapter XVII. Chapter XVIII. Chapter XIX. Chapter XX. Chapter XXI. Chapter XXII. Chapter XXIII. Chapter XXIV. Chapter XXV. Chapter XXVI. Chapter XXVII. Chapter XXVIII. Chapter XXIX. Chapter XXX. Chapter XXXI. Chapter XXXII. Chapter XXXIII. Chapter XXXIV. Chapter XXXV. Chapter XXXVI. Chapter XXXVII. Chapter XXXVIII. Chapter XXXIX. Part 2: The Blockade Runners Chapter I. The “Dolphin.” Chapter II. Getting under sail. Chapter III. Chapter IV. Crockston’s trick. Chapter V. The shot from the “Iroquois,” and miss Jenny’s arguments. Chapter VI. Sullivan Island channel. Chapter VII. A southern general. Chapter VIII. The escape. Chapter IX. Between two fires. Chapter X. St. Mungo. About HackerNoon Book Series: We bring you the most important technical, scientific, and insightful public domain books. This book is part of the public domain. Jules Verne (2022). A Floating City and The Blockade Runners. Urbana, Illinois: Project Gutenberg. Retrieved October 2022 https://www.gutenberg.org/files/67829/67829-h/67829-h.htm This eBook is for the use of anyone anywhere at no cost and with almost no restrictions whatsoever. You may copy it, give it away or re-use it under the terms of the Project Gutenberg License included with this eBook or online at , located at . www.gutenberg.org https://www.gutenberg.org/policy/license.html

A Floating City and The Blockade Runners by Jules Verne - Table of Links

Few months ago Canada's Federal Court issued the country's first pirate 'site' blocking order. The order was requested by Bell, Rogers, and Groupe TVA, who recently asked the court to amend the order to ban additional domains that provide access the pirate IPTV service GoldTV. This request was granted. Despite attempts from the rightsholders to keep the update quiet, the new domains have been revealed as well. Last November Canada’s Federal Court approved the first in the country. piracy blockade Following a complaint from major media companies Rogers, Bell and TVA, the Court ordered several major ISPs to block access to domains and IP-addresses of the pirate IPTV service GoldTV. A few days after the order was issued the first blockades were active. These prevented GoldTV customers from accessing the IPTV portal directly, as intended, but it didn’t take long before several popped up. alternative domains These new domains are managed by GoldTV or its resellers and point to the access portal, allowing subscribers an unblocked route to access the IPTV service. This wasn’t entirely unexpected. While IPTV blockades are relatively rare, we have seen similar ‘proxy’ workarounds in the past when traditional pirate sites were blocked in other counties. Having learned from this experience, the Canadian court order specifically allowed Bell and the other companies to expand the blocklist. Specifically, they can amend the original blocklist with any “domain, subdomain or IP address that has as its sole or predominant purpose to enable or facilitate access to the Target Websites,” provided that the IP-address is “not associated with any other active domain.” Such an update was requested early last month and two weeks later the Canadian Federal Court approved it. An overview of the new blocking requirements was published this week by Andy Kaplan-Myrth, TekSavvy’s vice-president of regulatory affairs. This shows that, after some IP-addresses and a domain name were previously removed, several new ones were added with the latest order. The newly added addresses include gold.myiptvplanet.com, live4k.online, and several pctvhd.net and beex.me subdomains. When we checked these, all indeed redirected to the GoldTV access portal. According to reports we received, the new domains have been added to the blocklist of several Canadian ISPs, as expected. Avvidavids reveal that the new domains were tracked down by posing as a customer or reseller of the GoldTV service. Interestingly, the rightsholders asked to keep the names of the new domains secret until the order was granted. The Wire Report that they sent a to the ISP asking them to “refrain from publicizing” the new domains until the Court made a decision. notes letter (pdf) Keeping possible updates out of the public eye is in the interest of the copyright holders, as it prevents GoldTV from anticipating new blocks. However, it raises concerns among some legal experts who believe that information in a public case should be out in the open. If not, that should be up to a court to decide. That said, the Canadian procedure is much more transparent than in other countries such as the UK, where new blocklist updates aren’t published at all, making it impossible for the public to check for potential overblocking. While the expanded blocks are certainly frustrating for GoldTV customers, there will likely be new domains to replace them, continuing the whack-a-mole. The downside for the copyright holders is that there’s a significant delay in the process. Bell and the others first have to file for an amended order, which then has to be approved by the court. After that, it can take up to two weeks before ISPs implement the blockade. This whole process can take more than a month. In this timeframe, new domain names may have already been put into use. While website blocks are far from perfect, the continued frustration of switching to new domains may be enough for some pirates to throw in the towel. Or they may switch to more permanent circumvention alternatives, such as VPNs. Meanwhile, the bigger blocking battle continues as well. Internet provider TekSavvy has and hopes to have it overturned. It clearly violates network neutrality and undermines the open Internet, the ISP previously said. appealed the blocking order Originally published as “ Canadian Pirate Site Blockade Expands With New Domains ” with the Attribution-NonCommercial 3.0 Unported (CC BY-NC 3.0) license

Canadian Pirate Site Blockade Expands With New Domains

Russia is planning action against apps that facilitate access to pirated content. If app developers don't quickly respond to a request from authorities to cease distribution of their software, telecoms watchdog Roscomnadzor will demand action against platforms such as Google Play and Apple's App Store. Failure to respond could result in ISP blockades. Site-blocking is one of the entertainment industries’ preferred tools for dealing with the spread of unlicensed content. Operated in dozens of countries around the world and currently as an effective anti-piracy solution for the United States, site-blocking is not only but also struggles to keep up with piracy innovations. being championed controversial When file-sharing hit the mainstream, it was via software clients such as Napster, Kazaa and LimeWire. After traversing through torrent clients it then hit the web, with people more likely to stream or download from a site using a browser. Over the past few years, however, part of the market came full circle, with dedicated piracy apps gaining in popularity once again. While these pieces of software are usually downloaded from websites, they are effectively aggregators pulling content from a wide range of third-party platforms. It is technically possible to block all of those platforms to prevent apps from working but Russia now wants to deny access to the apps themselves. According to draft amendments to copyright law reviewed by , the plan is for telecoms watchdog Roscomnadzor to contact app developers/owners with a request for them to cease distribution of their infringing tools. They will be expected to respond positively and quickly, within a day. Kommersant In the event that fails, Roscomnadzor will then turn to the entity that “ensures the placement of the application”, i.e websites, distribution platforms etc. If no action is taken there, they could find themselves subjected to ISP blocking instead. According to Karen Ghazaryan, leading analyst at the Russian Association for Electronic Communications (RAEC), services such as Google Play and Apple’s App Store will be covered by the legislation. While some will view blocking of legitimate platforms as draconian, there doesn’t appear to be any desire to block entire sites after a failure to restrict access to infringing apps. Instead, the proposed blocking is at least intended to be precise, targeting the specific locations where the apps can be found. Whether that will be possible or whether over-blocking will raise its head again is unclear but Ghazaryn is concerned by the development and questions whether it is needed at all. Faced with copyright or trademark complaints, official platforms already remove applications from their stores. Nevertheless, Alexei Byrdin of anti-piracy group Internet Video Association suggests that such distributors should also face sanctions for failing to respond. “It’s worth expanding the ways of influencing aggregators so that they really respond, for example, provide for significant fines – such as those in place for search engines for not deleting links to pirated resources,” he told Kommersant. It’s certainly possible the government is hoping to tackle a broader range of distribution mechanisms other than Google Play or the App Store, however. When applications are denied distribution on the larger services, they tend to get pushed out to file-hosting platforms and third-party websites, which can also be blocked. That being said, pirate apps are typically quite small so they can also be distributed via email or chat applications. Those mechanisms are hard or even impossible to block but restricting access to the masses is probably the pragmatic goal of the legislation, not eradicating the apps completely. Originally published as “ Russia Plans to Block Access to ‘Pirate’ Apps on Google Play and Apple’s App Store ” with the Attribution-NonCommercial 3.0 Unported (CC BY-NC 3.0) license

Russian Watchdog to Place a Blockade on Pirate Apps

1. Major UAE Bank Employs Blockchain To Tackle Cheque Fraud The National Bank of Dubai (NBD), one of the largest banking groups in the Middle East in terms of asset volumes, is . The successful project, called Cheque Chain, made NBD the first bank in the region to adopt this technique. A QR code is printed on each cheque, and then recorded on blockchain. The new system improves security standards and cheque authenticity. A pilot was previously launched, under the supervision of Emirates NBD Future Lab. Almost a million chequebook pages have been registered with this system. The option of is also under consideration currently. The news comes following the . countering cheque fraud by using blockchain in its cheque-issuance system using the blockchain platform to collaborate with other UAE financial institutions launch of ‘UAE Blockchain Strategy 2021’ 2. Taiwan To Implement Crypto Regulations By November Qiu Taisan, Taiwan’s Minister of Justice, , in order to fight money laundering. Institutions such as the Ministry of Interior, the Central Bank and the Bureau of Investigation will all be involved in the drafting of these rules. Taisan shared the plan during the Financial Industry Money Laundering Prevention conference hosted by the Taiwan Financial Services Coalition. Two virtual currency operators have previously been invited by the government Legal Department to discuss virtual currency operations. The latter plans to learn about a ‘control mechanism’ by the end of November, when the Taiwan-based Asia Pacific Anti-Money Laundering Organization will take place. wants to implement a set of regulations for cryptocurrencies by November 3. Messaging Provider Line To Promote dApps Through Own Blockchain Japanese messaging giant Line wants to . During the 2018 DEV WEEK, CTO Euivin Park outlined the company’s efforts to create a token economy with dApps which are based on ‘incentive-type information services’. The company will also promote the development of dApp services which don’t take place on Line’s platform, as well as the future creation of its own blockchain mainnet. In order to achieve its plan, Line is increasing the number of developers. It was also previously the opening of a South Korea-based blockchain subsidiary called Unblock. promote the creation of dApps through its own blockchain platform reported 4. Dispute Over Ban on Banking Services for Crypto Companies in India We previously on many waiting for the Indian Supreme Court’s ruling on cryptocurrencies. A lack of clarity from the Reserve Bank of India (RBI), the country’s central bank, was also brought up. RBI has now been accused of breaching the constitution, by . This caused the RBI, the Centre, and the Goods and Services Tax (GST) Council to receive a notice by the Delhi High Court. A reply is expected by May 24. The issue began when Kali Digital Ecosystems Pvt Ltd wanted to launch a crypto exchange in the Indian territory, and its relationship with RBI broke down because of the ban, which has a 3-month implementation period. Not only are there calls for the ban to be nullified, but also for the GST Council to create regulations, which would reduce the current uncertainty. reported stopping financial entities from offering their services to anyone dealing with virtual currencies This news roundup was brought to you by . BlockEx To receive our daily news roundup in your mailbox, sign up here: http://bit.ly/BlockExNewsRoundup-Updates

23/04/2018: Biggest Stories in the Cryptosphere by BlockEx

Why You Should Forget Everything You Know About Problem Solving

The level of censorship in Pakistan escalated significantly during the period when authorities successfully banned , formerly known as Twitter. The authorities in Pakistan on February 17, when the rigging of elections throughout the country fueled the citizens to protest. The citizens wanted to take advantage of that opportunity to engage with each other on social media. They turned to increasing the usage of ( virtual private networks) to bypass the ban on social sites on the internet throughout the country. X started to block social media sites VPN An estimated report reveals that the demand for security software in the market has increased by up to 130%. There have been reports of numerous VPN apps suddenly failing, indicating that Pakistan's Censorship is getting more severe. These restrictions indicate citizens' difficulties in Pakistan, including inhibiting freedom of expression in the digital landscape. History of Internet restriction in Pakistan The process of blocking the internet or social media platforms in Pakistan is as old as the country. Citizens were facing these issues not only in this era but also each year in different forms. The PTA banned social platforms such as YouTube, Facebook, and Flicker in 2010. This was done after a competition known as Everyday Draw Muhammad Day. This competition may contain a bit of blasphemous material. In 2012, the Pakistan's most famous site, YouTube. That was a protest against a film released by the United States, "Innocence of Muslims." The process of YouTube restriction continued till 2016. During these years, many steps were taken regarding its usage and ban side by side. However, it was lifted in September 2016, when YouTube was launched as a local version for Pakistan. PTA blocked In 2020, the usage of due to the spreading of immoral content. TikTok in Pakistan was restricted In 2021, the interior ministry ordered the PTA to , Twitter, YouTube, and whatsapp throughout Pakistan. The reason for the temporary blockage of social media platforms should have been explained earlier. Later, that was described as related to security concerns as there was a worse situation due to Tehrik e back anti-France protests. ban Facebook Alarming condition of Pakistan's internet censorship in 2024 Lina Survila, Surfshark virtual private network provider spokeswoman, said 2024 may be a year of internet restrictions in Pakistan due to enhanced Censorship in Pakistan at an alarming level. The country faced digital darkness on five occasions in the first two months of 2024. When a political party, Pakistan's Tehrik-e-Insaf, organized online events that imprisoned former Prime Minister Imran Khan, they faced two strikes on the internet in January regarding all social media platforms. After this, the authorities hit the internet and plugged off all the social platforms, including X, on the day of the election, and the government named it a security concern. Through this blockage, they tried to consolidate the maximum potential vote manipulation. , internet watchdog Netblock, said," That day was a massive black day in democracy in Pakistan." Alp Toker One member of the Pakistan Senate presented a report to ban all famous social platforms such as Facebook, Twitter, YouTube, and Instagram. etc. The citizens faced the shutdown of social media during the country's general election. The proposal states that these social media platforms are affecting the young generation, spreading damaging and malicious content throughout the country against the military millennials. This resolution develops criticism of the violation of the rights of people as citizens have the right to express their views freely. Experts say The threats to ban social media and the internet are still at their peak point in Pakistan. Blockage of X- platform A report against internet monitoring services by states that the senator submitted the proposal when citizens were already in a sensitive stage for blockage of social media platforms. After holding the February 8 elections in Pakistan, there was a great protest against vote manipulation. When Liaqat Ali Chattha, a senior Pakistani bureaucrat, revealed that he was involved in manipulating the vote, this claim was retracted after a few days. NetBlocks The PTI, Pakistan's opposition party, claimed that the general election had been thoroughly manipulated in counting. Party officials announced they would keep up their legal actions and street demonstrations to recover the stolen mandate. At that time, people throughout the country flocked to X or Twitter to express their voices and organize themselves to walk in the streets. Politicians  throughout South Asia kept a great eye on X to keep a view of what was happening in the country. This platform also offers the opportunity to express opposing views and criticize the current political establishment. That was when authorities took the step to ban the X entirely in Pakistan. The government began to block this platform's access without announcing any warnings or explanation. PTI called these tactics desperate tactics, which were developed by the imported government and recommended that citizens use safe VPNs to access all banned social media platforms. Ultimately, citizens have still been trying to overcome these unauthentic restrictions using virtual private networks. Investigation Over Censorship Strategies Advocates of digital rights investigate the censorship strategies of the government of Pakistan for all groups at Islamabad-based-bytes. After a proper examination, they concluded that Twitter's block uses HTTP blocking. Another report or expert opinion believes that an equal collaboration of content delivery networks and authorities could be achieved. The report reads like this: "For Pakistan’s telecommunication authority, it's possible to ban  access to Twitter usage by any method, like IP blockage or deep Packet Inspection rather than to block the content by specific content delivery network providers such as Akamai Technologies, which would be more challenging to control." Although digital platforms are affected by their policies at a harsh level, as in this era, it's impossible to keep citizens away from the social market; digital freedom is not the only victim of continuous internet blockage. Effect of Internet Censorship on Pakistan's Economy The effect of internet censorship on Pakistan's economy cannot be overwhelming. The internet shutdown adversely affects many small and larger scale businesses in Pakistan. A Technologies-driven company reveals that it faced a 36% drawback in sales volume. Another report states that the telecommunication sector suffered almost 2.85 million dollars lost. , an IT sector representative, said they faced 3 million dollars per day till the restrictions were lifted. P@sha Almost 1.3 billion rupees loss has been recorded in Pakistan's economy by the Pakistan Institute of Development Economics due to internet restrictions. A reveals that in 2023, Pakistan ranked third among the most restricted online nations. That cost may seem more significant this year as democratic values are disintegrating daily. study Solution of Internet Censorship in Pakistan VPN services motivate Pakistanis to come if they are on a quest to find a solution to the restrictions. The provider will guide you in getting rid of these internet shutdowns. Final Thoughts Censorship in Pakistan is on the rise, especially online. Limits on social media not only stifle free speech but also affect data access and democracy. During elections, government control raises concerns about citizens' rights. Many people turn to VPNs to bypass these restrictions. Internet shutdowns hurt Pakistan's growth and democracy. Supporting digital rights and using VPNs can help fight censorship in Pakistan. Frequently Asked Questions 1. What Is The Meaning Of Censorship? Censorship means the suppression of someone's voice, involving the ban on the freedom of the public to raise their voice against their issue. 2. Is there any Censorship in Pakistan? Yes, internet censorship is an example of Censorship in Pakistan. This means that some social sites, including X, are banned. This is also done to suppress the voice of citizens on digital platforms. 3. Why is the Internet Banned in Pakistan? The maximum filtering in Pakistan is intermittent. The Pakistan telecommunication authority has blocked the site, which they consider to contain content related to negativity, such as threatening, blasphemous, or anti-religious content. 4. What To Do If There Is Censorship On The Internet In Pakistan? If there's internet censorship in Pakistan, you can use a Virtual Private Network (VPN) to bypass restrictions and access blocked content. Additionally, you can advocate for digital rights and raise awareness about censorship issues. 5. Did Pakistan ban VPNs? VPNs are not banned in Pakistan, but their usage is highly restricted. The PTA allows some approved VPNs to be served.

Internet Censorship in Pakistan in 2024

My journey on the current project started in October 2022 and this one is quite challenging. One of these challenges was the performance optimization area. Today, I would like to shine some light on this topic and share my experience. We will start from the basic concepts, look into the Web Vitals and core metrics for measuring the page loading, briefly walk through the topic of how a browser makes pixels on the screen from your code, and talk about optimization techniques. Importance of Application Loading Speed in User Experience First things first - let's explore the reasons why we should care about loading optimization: Improved load time enhances the user experience, keeps them engaged, and makes them less prone to shifting to another site. There are a lot of similar applications, and if you want to engage a user in your application, you have to have a fast-loaded application; Sites with faster loading times have higher conversion rates, impacting sales and registrations in e-commerce and other online businesses. Some companies researched how loading speed impacts sales for a business, and the results were quite impressive. Even a one-second delay can result in a 7% reduction in conversions, and 40% of users will abandon a website if it takes more than three seconds to load; Search engines like Google consider page load speed as a ranking factor in their algorithms, affecting the site visibility in search engine results. You have to be fast if you want to be at the top of Google search. This is one of the many factors impacting the website rank. Basic Concepts Overview of Web Vitals The first thing to discuss is Web Vitals. It's a pack of three metrics that the Google team formed. They are considered to be the most important metrics and vectors for improvement in the performance landscape. These metric values are fair only for the 75th percentile of users. It means that most of your users meet these metrics. The first one - the Largest Contentful Paint. In our topic, it is the most important one, and we will explore it in detail a little bit later. The Interaction to Next Paint is a metric showing how fast your page responds to a user's actions - click with the mouse, tap on the touchscreen, press a key on a keyboard or onscreen keyboard. This is the time when the browser begins processing event handlers in response to that action. And last but not least is the Cumulative Layout Shift. This metric shows how is unstable your UI - how many element shifts you have. The values are calculated with a special formula, but we are not going to reveal it. Understanding Largest Contentful Paint (LCP) and why it matters Okay, let's dive into the LCP metric and why it matters. It reports the render time of the largest image or text block visible in the viewport, relative to when the user first navigated to the page. To provide a good user experience, sites should strive to have the LCP of or less. LCP includes any unload time from the previous page, connection setup time, redirect time, and Time To First Byte, which can all be significant when measured in the field and can lead to differences between field and lab measurements. Let's see some examples of LCP calculation. You can see the loading page, and most of the time the LCP element is considered a big text block. However, after the image loading, the LCP element changed to the image. 2.5 seconds The second example is pretty much the same - while the future LCP elements are loading, some other text blocks are considered the largest on the page. In these examples, there are two similar situations - the LCP element loaded faster than other elements. Quick Look into the Critical Rendering Path (CRP) The Critical Rendering Path, or CRP, is the sequence of steps the browser goes through to convert the code of a web page into actual pixels on the screen. Understanding the CRP is essential for improving a page's load speed and overall performance. So, let's break it down further: When a user opens a web page, the browser starts by fetching the HTML content; The HTML is then parsed into a tree-like structure called the Document Object Model (DOM). This represents the structure of the webpage; Parallel to this, the browser fetches and parses style information, which includes CSS linked within the HTML, building the CSS Object Model (CSSOM) - which is a map of the site's visual rules; Once both DOM and CSSOM are built, the browser combines them into a Render Tree. This structure only includes visible elements and their styles; Based on the Render Tree, the browser then performs the Layout process, also known as reflow, calculating where each element should appear on the screen; The final step is the Painting, where the browser turns each node in the Render Tree into actual on-screen pixels; Any slowdown or blockage in these steps can delay the rendering of the page, causing a poor user experience. That's why it's crucial to optimize the CRP; Strategies & Techniques Now, we will look into the strategies and techniques, that can help us optimize our application. These are not all techniques in the world - just a part of them. Discussion of different caching methods We are starting from the cache. So, what exactly is caching? Think of caching as a high-speed memory storing temporary data that you're likely to need again. By storing this information in a cache - it drastically reduces the need to re-fetch the data from its source or reprocess a computation, hence saving precious time. There are several types of caching: . This stores static files, like CSS, JavaScript, and images, right in the user's browser; Browser Caching . This involves serving pre-generated responses to identical API requests straight from the cache rather than executing database queries each time; Server-Side Caching . This involves temporarily storing the results of a database query so that if identical queries are made, the result can be quickly retrieved from the cache rather than executing the query all over again; Database Caching How do we implement caching? We begin by identifying which assets or computations are costly and don't change frequently, making them ideal candidates for caching. Then, we choose the caching technique best suited based on our findings. Using CDN for faster content delivery Let's switch gears for a moment and discuss another effective strategy for speeding up web application performance - the use of a Content Delivery Network, commonly known as a CDN. So, what exactly is a CDN? At its simplest, a CDN is a network of servers spread out geographically, designed to deliver web content to users more quickly and efficiently. The content that a CDN caches usually includes images, stylesheets, JavaScript files, and more. So you might ask, how does a CDN actually work? The principle behind it is quite straightforward: the CDN will deliver the content from the server closest to the end user, significantly reducing the response time. Imagine you have users accessing your application from different parts of the world, and your server is somewhere in the US, and your application is accessible from any part of the world. Without a CDN, every request has to travel all the way to the US. But with a CDN, if a user is accessing from Spain, their request will be served by a server closest to Spain, drastically reducing the latency. Explaining asynchronous loading Normally, when a browser processes a webpage, it goes line by line, executing each function or loading every resource as it comes across them. This method is what we refer to as 'synchronous' because everything is happening in a specified order, one after the other. Asynchronous, on the other hand, fundamentally breaks this chain. It allows the browser to continue processing other elements of your webpage while it has kicked off resource-intensive operations, like fetching data from an API or loading images. Remember CRP? Actually, JavaScript is a render-blocking resource as a CSS, and this is why it's important to load JavaScript asynchronously. Here we have several examples of how can you connect our scripts to the webpage. As a default behavior, our script interrupts the HTML parsing, hence the DOM construction. And if you remember the CRP process, the DOM construction must be completed if we want to get actual on-screen pixels - we need to do it as fast as we can to provide a good user experience. A browser meets the script and starts to load it, and right after it has been loaded - executes. So, for this problem, we have two solutions - and attributes. As you can see, the script with both attributes loads asynchronously, but there is a pitfall - we still interrupt our HTML parsing with script execution, so for this purpose, it’s better to use because the script will be executed only after the HTML parsing is finished. async defer async defer Image and Video Optimal Formatting and Loading Moving on to another essential aspect of web performance - the optimal formatting and loading of images and videos. Multimedia content like images and videos can significantly impact the loading speed of your application due to its usually large file size. Therefore, optimizing these elements is crucial to enhance speed and performance. For images, we need to consider the most suitable format for a particular case. It can be JPEG, PNG, or SVG. For any media file, use compression tools to reduce file sizes without losing too much quality, or use files with less size. Do not forget to use lazy loading - it helps to not load files until they appear on the user's viewport. Importance of Minifying CSS, JavaScript, and HTML Minification is a simple and effective method to increase your web application performance without affecting its functionality and it must be included as a part of an application build process. Minification refers to the process of removing unnecessary or redundant data from your code files without affecting their functionality. This can include white spaces, line breaks, comments, and even variable names in some cases. So, why is minification so important? The primary benefit of minification is decreasing your file sizes. Smaller files mean less data needs to be transferred over the network, leading to quicker load times and less data usage for the end user. If your files are small, the browser can parse and compile them more quickly, improving the overall performance. In addition to this, it helps to reduce network bandwidth usage. Bundle reduction and dependencies management An important factor impacting the performance of your web application is the size of your JavaScript bundles. Your final bundle consists of your code and application dependencies/packages. And if you do not manage them properly, in the future, it becomes a big problem. This is an important part of the optimization of loading time. Here we have some techniques, which can help to reduce a bundle and helps to manage application dependencies: . Here, you divide your code into smaller chunks which are then loaded on demand or in parallel. By only loading the minimum necessary code for a particular page, you can drastically speed up the initial load time. This technique is also called lazy loading; Code Splitting . This technique helps you eliminate dead or unused codes from the final bundle. Modern bundlers offer built-in support for tree shaking. However, it mainly works with ES6 module syntax — so make sure you’re using and , not ; Tree shaking import export require . Try to only import the functions or components you need, rather than the entire library; Only import what you need . Updates often include optimizations and the removal of unnecessary or deprecated features; Regularly update dependencies . Use tools such as Webpack Bundle Analyzer to determine which dependencies are adding significant weight to your bundles, and consider whether they are truly necessary; Audit your dependencies . Use lighter alternatives of the libraries you use. For example, Preact is a lighter alternative to React, and day.js is a compressed version of moment.js, which is much bigger. For smaller projects or individual components, this approach can significantly reduce bundle size; Use lighter alternatives Make sure that there are no duplicate dependencies in your bundle. My personal experience and results Now, after all of the theory, I will present my personal experience in this field. For example, we will take a look at a project where I'm currently working on. When I entered the project, it was about October 2022, the LCP was at the 75th percentile. As we discussed earlier, it's not so good. Then, our management team set a goal to be in the green zone for LCP - it's up to 2.5 seconds. I took this task and started analyzing what was going on. The first thing that I revealed was the enormous size of a bundle - . The reason was simple - there was no code splitting and lazy loading, it was just one big JS file with all project code. Only our project code was 6 MB and 2 MB for dependencies. After the optimizations, it was really hard, I reduced the initial script to . What did we do with dependencies? We migrated some packages to more lightweight ones, some of them were deleted, and another part was removed from the initial script due to code splitting and tree shaking. So, it was reduced to . Plus to this, we cached all static resources for several weeks, due to our releases and enhanced our geographical distribution. And one more thing, we did some code optimizations to reduce long tasks that block our main thread. Finally, after a long way, we got LCP for the 75th percentile of users. 3.3 seconds almost 8 MB 300 KB 1.1 MB 1.9-second Possible questions you might ask Q: If I have a small project, that has already started, how much effort should I put into the possible optimizations bailouts in the future? A: Even for small projects, it's beneficial to set a good foundation for possible optimizations in the future. However, the level of effort would depend on your project's complexity, business domain, and future growth projections. If there's potential for your project to scale or complex features to be added, it's better to consider optimization early on. Conversely, if the project is expected to remain small and simple, you might choose to apply basic optimization practices without heavily investing time upfront. Q: How to sell the idea of optimization to a business? A: You can emphasize the direct benefits to the business. For instance, website optimization can lead to faster loading times, which can enhance user satisfaction and experience, reduce bounce rates, and potentially increase conversions and business profits. Furthermore, it's beneficial to the business's SEO efforts as search engines factor in page load speed in their ranking algorithms. In addition to this, it's better to provide measurable results rather than hypothetical ones. Q: How small my bundles should be to achieve code splitting benefits? A: There isn't a one-size-fits-all answer to this as it can depend largely on your application's needs and structure. However, a general rule of thumb provided by the Webpack documentation suggests aiming for an initial bundle split point of under 244KB (compressed). But remember, the ultimate goal is to only load what's required at any given time, improving the initial page load. Q: Which else tools can be helpful for analyzing my current statement? A: I have mentioned two of them: Webpuck Bundle Analyzer and Lighthouse. But it's good to know that Chrome DevTools can also be useful. For a performance tab that gives you more insight into what's happening when your site loads. But use it only for investigations, not for the source of truth - real data should be collected from real users. Conclusions Today we have discussed a little part of the big picture of optimizations. We have seen some important metrics and ways to enhance the user experience and loading application. In conclusion to my speech, I would like to give some advice or some kind of a roadmap if you want to improve the loading speed of your application: . The Lighthouse extension and Webpuck bundler analyzer can help you; Analyze your project . We discussed some of them but the world of optimizations does not only consist of them; Apply the most suitable techniques for your case . Store the core metrics for your project and regularly check them. It's very important to collect them from real users rather than local testing. Continuously measuring Remember, optimizing application load speed is an ongoing process and requires continuous monitoring.

How to Optimize the Loading of Your Web Application

Real World Asset (RWA) tokenization is viewed by many as a completely new paradigm in the global economic system - how we buy and sell items, preserve wealth, and accept payment for services rendered. Tokenization could be a $10 trillion industry by 2023. It means that any asset can be digitized and placed for sale on a blockchain, which helps to facilitate global access for a given asset. So there are no closed doors, and it provides many alternative financing options for owners. RWA Tokenization In Art Art is known to be a highly illiquid asset. Imagine a famous work of art worth millions of dollars. Instead of this piece of art being owned by a single high-net-worth (HNW) individual,  it could be owned by thousands of individuals and put to a more communal use. Each individual would have a much smaller upfront investment. Digital art (which is also a real-world asset) can also be tokenized. So graphics designers who make images can tokenize them and distribute them to audiences. The tokenization of images and videos also allows the original creators to retain ownership of their works of art, which is an added benefit in an industry where agencies can take a large share of the profits. Five NFTs of Andy Warhol were from an auction. The NFTs were minted from five preserved records of Warhol’s work in 1985, recovered from floppy disks. sold for a total of $3.4M RWA Tokenization In Real Estate Real estate offers huge potential for RWA tokenization. Long heralded as a bastion of wealth and a highly illiquid yet stable asset, real estate can now be tokenized and fractionalized. This means that a multi-million dollar mansion can be purchased by a group of interested investors, with each person owning perhaps 1% of the property. Alternatively, a large multi-family residential unit can be group-owned, offering rental income proportional to the tokenized shares in the property, with near-zero red tape and instant transfer. Real estate is known for stable income, and no longer do investors need to own the property outright can also be tokenized. This makes it much easier for the underlying investors to trade them. Real estate funds is a prominent example of live real estate tokenization, with a fully integrated marketplace for buyers, sellers, and agents. Home addresses can even be minted on the blockchain and the title is registered with the local authorities for a 100% compliant transaction. Propy , recently backed by Brock Pierce and named the RWA tokenization project of the year in 2023, is also making moves toward real estate tokenization mass adoption. EstateX RWA Tokenization In Metals Precious metals, the stalwart of the monetary system, can also be tokenized. 50 years ago the US dollar was de-pegged from gold, but there is a growing appetite to once again see precious metal-backed currencies. Some metals are very hard to invest in. Gold costs $2,100 for an ounce at present. Silver is more affordable, at $25. But it's still hard to transfer and store physical items. With asset tokenization, such metals can be fractionalized and represented as cryptocurrencies. This means they are easy to trade and the minimum investment is quite low. is one example of a real-world asset provider that is offering fractionalized silver, through the . This helps to democratize access, and the cost for a troy ounce is $26 ($1 above spot). Collectible textile products and shoes are also sold through the Mercate marketplace as fractionalized NFTs. The company has previously worked with Microsoft, Ticketmaster, and BHP Hilton. BlockApps Mercata marketplace Where Does RWA End? Ultimately, it’s conceivable that practically every asset will have a token equivalent. Tokenization has no real downsides and a plethora of advantages. The main issue right now is with regulation and compliance. Red tape is a huge challenge and legal authorities are known to move very slowly. However, innovation in RWA is at unprecedented levels, and the public at large can benefit massively from asset tokenization, as well as institutions and commercial enterprises. It makes the asset much easier to invest in and opens up alternative revenue streams for asset owners. It can also create entirely new markets for investors. Even banks such as HSBC are now , and are finally starting to come onboard to blockchain. The idea of tokenizing every item listed on a balance sheet is plausible, with commodities, art, and real estate being the sectors where the most progress has been made. starting to tokenize assets

Unveiling The Rise of Real World Asset Tokenization: Exploring Trends in Art, Real Estate, and Metal

রিয়েল ওয়ার্ল্ড অ্যাসেট টোকেনাইজেশনের উন্মোচন: শিল্প, রিয়েল এস্টেট এবং মেটালের প্রবণতা অন্বেষণ

Enthüllung des Aufstiegs der Tokenisierung realer Vermögenswerte: Erkundung von Trends in den Bereichen Kunst, Immobilien und Metall

Revelando el auge de la tokenización de activos en el mundo real: explorando las tendencias en arte, bienes raíces y metales

Dévoilement de l'essor de la tokenisation des actifs du monde réel : exploration des tendances dans les domaines de l'art, de l'immobilier et du métal

वास्तविक दुनिया में संपत्ति टोकनीकरण के उदय का अनावरण: कला, रियल एस्टेट और धातु में रुझानों की खोज

現実世界の資産トークン化の台頭を明らかにする: アート、不動産、金属のトレンドを探る

실제 자산 토큰화의 부상 공개: 예술, 부동산 및 금속 분야의 동향 탐색

Revelando a ascensão da tokenização de ativos do mundo real: explorando tendências em arte, imóveis e metal

Раскрытие роста токенизации активов в реальном мире: изучение тенденций в искусстве, недвижимости и металле

Gerçek Dünyada Varlık Tokenizasyonunun Yükselişini Ortaya Çıkarıyoruz: Sanat, Gayrimenkul ve Metal Trendlerini Keşfetmek

Tiết lộ sự trỗi dậy của mã thông báo tài sản trong thế giới thực: Khám phá xu hướng trong nghệ thuật, bất động sản và kim loại

揭开现实世界资产代币化的崛起：探索艺术、房地产和金属领域的趋势

130 Stories To Learn About Copyright

Scientific American, Volume XLIII., No. 25, December 18, 1880, by Various, is part of the HackerNoon Books Series. You can jump to any chapter in this book . Vennor's Winter Predictions. here Vennor's Winter Predictions. He communicates as follows to the Albany : "December will, in all probability, open with little snow, but the weather will be cloudy, threatening snow falls. During the opening days of the month, dust, with the very light mixture of snow which may have fallen, will be swept in flurries by the gusty wind. There will probably be some snow from about the 4th of the month. With the second quarter of the month colder weather will probably set in with falls of snow. The farmers will be able to enjoy sleigh rides in the cold, exhilarating air, but good sleighing need not be expected until after the middle of the month. There will be a spell of mild weather about the 13th and 14th. After a brief interval of mild weather, during which more snow will fall, the third quarter of the month will probably see blustering and cold weather—a cold snap with heavy snow storms and consequent good sleighing. Very cold weather may be expected during this quarter. The last quarter of the month will bring milder weather, but will terminate, probably, with heavy snow-falls and stormy weather; in fact, the heaviest snow falls will be toward the end of the month, and snow blockades may be looked for, the snow falls extending far to the southward, possibly as far as Washington, with very stormy weather around New York and Boston." Mr. Vennor's latest predictions are that the coming month will be "decidedly cold, with tremendous snow-falls during the latter half and early part of January, causing destructive blockades to railroads." Argus About HackerNoon Book Series: We bring you the most important technical, scientific, and insightful public domain books. This book is part of the public domain. Various (2007). Scientific American, Volume XLIII., No. 25, December 18, 1880. Urbana, Illinois: Project Gutenberg. Retrieved https://www.gutenberg.org/cache/epub/21081/pg21081-images.html This eBook is for the use of anyone anywhere at no cost and with almost no restrictions whatsoever. You may copy it, give it away or re-use it under the terms of the Project Gutenberg License included with this eBook or online at , located at . www.gutenberg.org https://www.gutenberg.org/policy/license.html

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