A valuation-adjustment framework for programmable finance.
Research and analysis on valuation adjustments for digital assets, tokenized instruments, and programmable finance. By David Martin.
The Crypto XVA™ framework extends traditional XVA methodology (CVA, DVA, FVA, KVA, MVA) to the risk surfaces that do not exist in TradFi: oracle risk, bridge risk, liquidity-redemption risk, smart-contract risk, governance risk, composability risk. It is the instrument by which institutional treasuries, auditors, and market-data providers will price, hedge, or avoid the risks embedded in programmable finance.
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Related
- SSRN Working Paper — Crypto XVA: A Conceptual Framework (April 2026)
- Interactive Prototype — crypto-xva.app
Crypto XVA™ is a trademark of David Martin, USPTO registered March 2026. Contact: david@crypto-xva.app
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