References

고지 사항: 이 백서는 영어 버전이 공식 문서입니다. 다른 언어 버전은 참고용입니다。

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Academic & Industry Research

Derivatives & Structured Products

1. Hull, J.C. (2021). Options, Futures, and Other Derivatives (11th ed.). Pearson.

2. Black, F., & Scholes, M. (1973). The Pricing of Options and Corporate Liabilities. Journal of Political Economy, 81(3), 637-654.

3. Merton, R.C. (1973). Theory of Rational Option Pricing. Bell Journal of Economics and Management Science, 4(1), 141-183.

Automated Market Makers

4. Adams, H., Zinsmeister, N., & Robinson, D. (2020). Uniswap v2 Core. Uniswap Whitepaper.

5. Adams, H., et al. (2021). Uniswap v3 Core. Uniswap Whitepaper.

6. Angeris, G., & Chitra, T. (2020). Improved Price Oracles: Constant Function Market Makers. arXiv preprint arXiv:2003.10001.

Private Markets

7. Ewens, M., & Farre-Mensa, J. (2020). The Deregulation of the Private Equity Markets and the Decline in IPOs. The Review of Financial Studies, 33(12), 5463-5509.

8. Gornall, W., & Strebulaev, I.A. (2020). Squaring Venture Capital Valuations with Reality. Journal of Financial Economics, 135(1), 120-143.

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Industry Reports

Private Market Data

9. PitchBook. (2024). Global Private Market Fundraising Report. PitchBook Data, Inc.

10. CB Insights. (2024). State of Venture Report. CB Insights.

11. Forge Global. (2024). Private Market Overview. Forge Global, Inc.

Cryptocurrency & DeFi

12. Chainalysis. (2024). The 2024 Crypto Crime Report. Chainalysis Inc.

13. DeFi Llama. (2024). Total Value Locked Dashboard. https://defillama.com

14. Messari. (2024). Crypto Theses for 2024. Messari, Inc.

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Regulatory Resources

United States

15. U.S. Securities and Exchange Commission. Framework for “Investment Contract” Analysis of Digital Assets (April 2019).

16. Commodity Futures Trading Commission. Digital Asset Primer (2020).

International

17. Monetary Authority of Singapore. A Guide to Digital Token Offerings (2020).

18. Financial Conduct Authority (UK). Guidance on Cryptoassets (2019).

19. European Union. Markets in Crypto-Assets Regulation (MiCA) (2023).

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Technical References

Blockchain & Smart Contracts

20. Ethereum Foundation. Ethereum Improvement Proposals (EIPs). https://eips.ethereum.org

21. OpenZeppelin. Contracts Documentation. https://docs.openzeppelin.com

22. Chainlink. Price Feeds Documentation. https://docs.chain.link

Security

23. Trail of Bits. Building Secure Smart Contracts. https://github.com/crytic/building-secure-contracts

24. Consensys Diligence. Smart Contract Best Practices. https://consensys.github.io/smart-contract-best-practices

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Company Resources

Valuation Data Sources

25. Forge Global. https://forgeglobal.com
26. EquityZen. https://equityzen.com
27. Carta. https://carta.com
28. SharesPost. https://sharespost.com

Market Data

29. PitchBook. https://pitchbook.com
30. CB Insights. https://cbinsights.com
31. Crunchbase. https://crunchbase.com

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Legal Resources

Offshore Jurisdictions

32. Cayman Islands Monetary Authority. Securities Investment Business Law.

33. British Virgin Islands Financial Services Commission. Securities and Investment Business Act.

34. Singapore Accounting and Corporate Regulatory Authority. Companies Act.

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Acknowledgments

PIPO would like to acknowledge the contributions of:

• The Ethereum and broader blockchain developer communities
• Open-source DeFi protocols that pioneered AMM design
• Academic researchers in financial derivatives
• Industry practitioners who provided feedback on product design

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This reference list is not exhaustive. PIPO does not endorse any specific third-party products or services mentioned.

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Document Information

Field	Value
Version	1.0
Last Updated	[Date]
Authors	PIPO Team
Status	Draft

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End of Whitepaper