Team members: b09902064 楊冠柏, b09902067 易冠廷 1 Statement This project and its report do not have any double assignment or any completed work before this semester. It is completely done in this semester. 2 Abstract We read 3 paper literatures related to matrix factorization mentioned in class, then summarize their contents and make some discussion. 3 Introduction The first paper [^1] discusses the use of matrix factorization techniques for creating recommender systems. The authors also discuss various extensions and variations of matrix factorization to improve the accuracy of recommendations.

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DeFi Final --- dYdX Introduction dYdX is a decentralized exchnge (DEX) which focusing mainly on derivatives trading. It provides perpetual contract trading, margin trading, spot trading, lending, and borrowing services utilizing smart contracts on the Ethereum (ETH) blockchain. dYdX is a hybrid exchange, which indicates that it combines centralized and decentralized exchange operations, in which it can provides the transparency and security of decentralized exchange, while obtaining the usability and the fast speed of centralized exchange. Rather than being based on an automated market maker (AMM) like Uniswap or SushiSwap, it relies on order book and matching machine which usually used in centralized exchanges which is said to be able to provide more efficiency than AMMs. Layer 2 On April 22nd, dYdX makes a decision to move to Layer 2 which only provides perpetual contract trading and leveraged trading based on layer 2 protocol. On November 1, 2021, the sunset of layer 1, dYdX no longer provides trading and borrows on layer 1 are now disabled while withdraws will be available indefinitely. In layer 2, in collaboration with StarkWare, Chainlink and Maker oracle, dYdX implements a oracle system which is compatible with Stark signature, which let the price can be used once the oracle price is verified, without waiting for the transaction. To speed up transaction without higher gas fee, off-chain transaction, holding transaction locally without posting on the block chain, is introduce. It was not until the amount of the transactions is arrived at a certain threshold that they will be pushed to block chain in batches. Helped by StackWare, zkSTARK is the technique that can offer zero-knowledge proof to verify the off-chain transactions. Governance Token On August 1, 2021, dYdX announced the launch of its governance token DYDX with total 1 billion ($10^9$) tokens supply that will gradually be accessible within five years. And after that, dXdY ensures that there will always be enough DYDX tokens by implementing perpetual inflation rate of 2% each year to reward the community. DYDX token holders have the right to propose and vote, such as determine allocation of funds and change risk parameters, and receives trading fee discounts according to their holding size.

API 完成： grep quota: https://www.googleapis.com/auth/admin.reports.usage.readonly send notification in slack https://api.slack.com/messaging/webhooks 待做：