​Whitepaper Reading Session SF [03]

​Topic:

​On DeFi Trading Agents, Why Shared Alpha in CoinAlgs Can’t Be Both Fair and Profitable

Readings: Discussion Doc | Arixv Link | Announcement Link

​A discussion of The CoinAlg Bind, which shows a fundamental tradeoff in collective investment algorithms powering modern DeFi Trading Agents such as ElizaOS: privacy enables insider value extraction, while transparency enables arbitrage that erodes profits.

​
Address: 473 Via Ortega, Stanford, CA 94305
Room: Y2E2 Building, Room 105

Topic Lead: Jay Yu of Pantera Capital
Many thanks to Prof. Ruizhe Jia from Stanford for helping with the venue!

​​Format

• ​​​​​​​Round table discussions (No panels)

• ​This session starts with 5–10 minutes of silent reading, followed by a roundtable discussion of The CoinAlg Bind and its implications for collective investing, AI trading agents, and DeFi.

• ​​​​​​​Summaries: We create summaries to help everyone understand.

​​​​​​​​About Whitepaper Reading Club

​​​​​​​The Whitepaper Reading Club is a community of 650 passionate engineers, founders, core-devs, students, researchers, across Singapore, Malaysia and Bangkok and New York who come together every month to read and discuss blockchain papers (website).

​​​We create detailed and easy to understand summaries for each paper (summaries) and have held 50+ sessions since June 2023, covering topics from Account Abstraction, Parallel Chains, EIPs, Bitcoin Ecosystem to AI x Crypto. We are ecosystem-agnostic, not for profit and with a strong focus on projects with technical, product or social innovations.

​​​Bittensor (Jul 2025)

​​​​​MakerDAO + Ethena (Sep 2024)