As Web 3 developments expand to virtual reality metaverses, personal profile (PFP) non-fungible tokens are emerging as the digital profile of choice. Many of these collections plan for images to be made into 3D avatars that function in virtual gaming and/or business environments. At the time of...

Whether proxied by the amount raised or the probability that this amount exceeds the soft cap, the factors driving fundraising success of token offerings have changed considerably over the past four years. Possible factors include target market cap for the token, genuine signals of the venture's...

We consider the hedging problem where a futures position can be automatically liquidated by theexchange without notice. We derive a semi-closed form for an optimal hedging strategy with dualobjectives -- to minimise both the variance of the hedged portfolio and the probability of liquidationsdue...

Recent research advocates volatility diversification for long equity investors. It can even be justified when short-term expected returns are highly negative, but only when its equilibrium return is ignored. Its advantages during stock market crises are clear but we show that the high...

Most research on option hedging has compared the performance of delta hedges derived from different stochastic volatility models with Black-Scholes-Merton (BSM) deltas, and in particular with the 'implied BSM' model in which an option's delta is based on its own market implied volatility....

This article introduces generalized beta-generated (GBG) distributions. Sub-models include all classical beta-generated, Kumaraswamy-generated and exponentiated distributions. They are maximum entropy distributions under three intuitive conditions, which show that the classical beta generator...