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1 December 2025 Preprint Crypto Microstructure

ASRI: An Aggregated Systemic Risk Index for Cryptocurrency Markets

Murad Farzulla, Andrew Maksakov

Download PDF arXiv: 2602.03874 Zenodo Dashboard

Abstract

Composite systemic risk index integrating DeFi and TradFi risk metrics. Real-time monitoring of cross-market contagion, liquidity stress, and protocol-level vulnerabilities through a weighted aggregation methodology designed for the unique characteristics of decentralized financial infrastructure.

Suggested citation

Murad Farzulla, Andrew Maksakov (2025). ASRI: An Aggregated Systemic Risk Index for Cryptocurrency Markets. Dissensus Working Paper DAI-2509. DOI: 10.5281/zenodo.17918238

Methodology

Composite index construction DeFi-TradFi risk modeling

Topics

Financial Markets Cryptocurrency Risk Management