# Wen-Ting Wang - egpivo.dev

> Science is a means whereby learning is achieved.

## About

- [Home](https://egpivo.dev/): Portfolio and blog homepage
- [About](https://egpivo.dev/about): Background and contact info
- [Projects](https://egpivo.dev/projects): Side projects and open source
- [Uses](https://egpivo.dev/uses): Tools and setup

## Articles

- [What Happened to Treasuries, Bitcoin, and Tokenized Funds After 23 Yen Shocks?](https://egpivo.dev/articles/twenty-three-yen-shocks-chain-that-didnt-repeat): Across 23 large USD/JPY moves, U.S. yields, BTC/ETH, and a tokenized-Treasury allocation proxy moved—but not in a stable, repeatable sequence.
- [Execution Surplus and Welfare in a Simplified Intent-Auction Game](https://egpivo.dev/articles/cow-execution-surplus-social-welfare): Solver competition and endogenous participation shape private execution gains and aggregate welfare across batch durations in a simplified intent-auction game.
- [TVL, Marginal Price, and Liquidity in an AMM](https://egpivo.dev/articles/tvl-marginal-price-and-liquidity): TVL is a measure of capital. The marginal price is the current quote. Liquidity tells us how much trading it takes to move that quote.
- [What Glamsterdam Would Change About Settling Korean Stocks on Ethereum](https://egpivo.dev/articles/what-glamsterdam-would-change-about-settling-korean-stocks-on-ethereum): A settlement workload calibrated to KRX's daily trading value fits within Ethereum's theoretical block-gas ceiling at the baseline. What changes under Glamsterdam is the cost of updating balances and creating new onchain state.
- [A Solana Program Change Can Be Compatible with One Consumer but Not Another](https://egpivo.dev/articles/compatibility-is-an-edge-not-a-program): Testing Provider Changes Against Consumer-Declared Requirements
- [Who Can Liquidate an Onchain Loan? From Health Factor to Transaction Execution](https://egpivo.dev/articles/who-gets-to-liquidate-your-loan): A collateral boundary still exists onchain. The difference is who may submit the liquidation once it is reached.
- [What Changes When Tokenization Reaches Market Scale?](https://egpivo.dev/articles/what-happens-when-a-capital-market-moves-onchain): What Changes When Tokenization Reaches Market Scale?
- [When an Onchain Opportunity Becomes an Execution Race](https://egpivo.dev/articles/the-rent-is-fixed): When discovery stops being scarce, competition becomes an execution race—and the rule that allocates execution determines how much rent participants keep.
- [How CoW Protocol Uses Auctions to Execute Onchain Trades](https://egpivo.dev/articles/one-swap-eight-solvers-inside-cow-protocols-hidden-auction): CoW batches trades and auctions execution to competing solvers. Its auction data shows what those competing plans look like.
- [When Onchain Price Adjustment and Execution Run on Different Clocks](https://egpivo.dev/articles/two-clocks-on-one-pool): Thirty externally selected Solana price shocks, one Orca pool: sometimes price and landed execution return to normal together. Sometimes they don't.
- [Testing Compatibility Across Solana Program Changes](https://egpivo.dev/articles/the-program-id-stayed-the-same): Two compiled Solana implementations accepted the same call. Both transactions succeeded; only one preserved the caller’s fixed postcondition.
- [When More Traders Stop Adding Much Information](https://egpivo.dev/articles/when-more-traders): When More Traders Stop Adding Much Information

## Optional

- [All Articles](https://egpivo.dev/articles): Full article index