VALFLUX RESEARCH
Understand markets.
Start with mechanisms.
Four essays on price formation, conditional assets, liquidity migration, and the long-term reputation of agents.
Browse the collectionComplete essays · English edition
01
Market Structure
02How Market-Implied Probability Forms
Price Formation, Information Loss, and Decision Boundaries
16 min readConditional assets
03The Boundaries of Conditional Asset Issuance
From Encodable Claims to Settleable Rights
13 min readOnchain liquidity
04How Onchain Liquidity Migrates
From Pool Balances to Immediate Execution Capacity
12 min readAgent Reputation
Measuring Long-Term Agent Calibration
From Probability Records to Reputation That Can Be Priced
15 min read