Full metadata record
| DC Field | Value | Language |
|---|---|---|
| dc.contributor | Faculty of Business | en_US |
| dc.creator | Li, Zhengqiang | - |
| dc.identifier.uri | https://theses.lib.polyu.edu.hk/handle/200/14258 | - |
| dc.language | English | en_US |
| dc.publisher | Hong Kong Polytechnic University | en_US |
| dc.rights | All rights reserved | en_US |
| dc.title | Unraveling the chess game : assessing the impact of MEV on the success of fair launch IDO | en_US |
| dcterms.abstract | This paper investigates the impact of Maximal Extractable Value (MEV) on the performance of Initial DEX Offerings (IDOs) which is an emerging on-chain financing method. A comparative analysis of IDOs, Initial Coin Offerings (ICOs), and Initial Exchange Offerings (IEOs) is conducted, with the application of theoretical frameworks from Initial Public Offerings (IPOs) and ICO literature to identify factors influencing IDO success. Based on a comprehensive dataset of all Uniswap V2 projects using ETH as quote currency on the Ethereum blockchain throughout 2023, this paper employs on-chain data analysis and pattern recognition techniques. We aim to predict IDO performance based on first-hour metrics, using an analogy to the relationship between movie premieres and box office success, with user scale after three days serving as our success criterion. | en_US |
| dcterms.abstract | Our findings reveal that first-hour user participation positively impacts the first three-day user scale, and snipping operations, serving as a significant positive moderator in IDOs with larger user bases, show negative direct effects in the three-day window. Sandwich attack, a strategy where traders place orders before and after a targeted transaction to profit from induced price slippage, emerges as a key mediating variable in this relationship. This paper extends the empirical analysis of IDOs as an ultra-short-cycle financing mechanism in cryptocurrency markets, contributing to reducing information asymmetry between investors and project initiators. While our study focuses on Ethereum-based IDOs, the methodological approach and findings provide valuable reference for future research on blockchain-based financing methods across various platforms and ecosystems. | en_US |
| dcterms.extent | viii, 183 pages : color illustrations | en_US |
| dcterms.isPartOf | PolyU Electronic Theses | en_US |
| dcterms.issued | 2025 | en_US |
| dcterms.educationalLevel | D.B.A. | en_US |
| dcterms.educationalLevel | All Doctorate | en_US |
| dcterms.LCSH | Cryptocurrencies | en_US |
| dcterms.LCSH | Blockchains (Databases) | en_US |
| dcterms.LCSH | Investments -- Technological innovations | en_US |
| dcterms.LCSH | Hong Kong Polytechnic University -- Dissertations | en_US |
| dcterms.accessRights | restricted access | en_US |
Files in This Item:
| File | Description | Size | Format | |
|---|---|---|---|---|
| 8759.pdf | For All Users (off-campus access for PolyU Staff & Students only) | 4.14 MB | Adobe PDF | View/Open |
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