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.
Latest research
- The Bridge That Wasn't There
- Controlling Composability Risk — Issuer, Venue, System, Pricing
- CompVA and the April 2026 Cascade: What the Signal Saw
- Why Your DeFi Yields Aren't What You Think They Are
More research: Explore Further.
Related
- SSRN Working Paper — Crypto XVA: A Conceptual Framework (April 2026)
- Interactive Prototype and Knowledge Base — crypto-xva.app
Crypto XVA™ is a trademark of David Martin, USPTO application pending, Serial No. 99716001. Contact: david@crypto-xva.app
AboutThe Bridge That Wasn't ThereControlling Composability Risk — Issuer, Venue, System, Pricing