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| Main Authors: | , , , |
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| Format: | Preprint |
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2026
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| Subjects: | |
| Online Access: | https://arxiv.org/abs/2602.03981 |
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| _version_ | 1866908811346837504 |
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| author | Shu, Aijie Wu, Wenbin Ibikunle, Gbenga He, Fengxiang |
| author_facet | Shu, Aijie Wu, Wenbin Ibikunle, Gbenga He, Fengxiang |
| contents | Credit exposure in Decentralized Finance (DeFi) is often implicit and token-mediated, creating a dense web of inter-protocol dependencies. Thus, a shock to one token may result in significant and uncontrolled contagion effects. As the DeFi ecosystem becomes increasingly linked with traditional financial infrastructure through instruments, such as stablecoins, the risk posed by this dynamic demands more powerful quantification tools. We introduce DeXposure-FM, the first time-series, graph foundation model for measuring and forecasting inter-protocol credit exposure on DeFi networks, to the best of our knowledge. Employing a graph-tabular encoder, with pre-trained weight initialization, and multiple task-specific heads, DeXposure-FM is trained on the DeXposure dataset that has 43.7 million data entries, across 4,300+ protocols on 602 blockchains, covering 24,300+ unique tokens. The training is operationalized for credit-exposure forecasting, predicting the joint dynamics of (1) protocol-level flows, and (2) the topology and weights of credit-exposure links. The DeXposure-FM is empirically validated on two machine learning benchmarks; it consistently outperforms the state-of-the-art approaches, including a graph foundation model and temporal graph neural networks. DeXposure-FM further produces financial economics tools that support macroprudential monitoring and scenario-based DeFi stress testing, by enabling protocol-level systemic-importance scores, sector-level spillover and concentration measures via a forecast-then-measure pipeline. Empirical verification fully supports our financial economics tools. The model and code have been publicly available. Model: https://huggingface.co/EVIEHub/DeXposure-FM.
Code: https://github.com/EVIEHub/DeXposure-FM. |
| format | Preprint |
| id |
arxiv_https___arxiv_org_abs_2602_03981 |
| institution | arXiv |
| publishDate | 2026 |
| record_format | arxiv |
| spellingShingle | DeXposure-FM: A Time-series, Graph Foundation Model for Credit Exposures and Stability on Decentralized Financial Networks Shu, Aijie Wu, Wenbin Ibikunle, Gbenga He, Fengxiang Machine Learning Artificial Intelligence Econometrics Credit exposure in Decentralized Finance (DeFi) is often implicit and token-mediated, creating a dense web of inter-protocol dependencies. Thus, a shock to one token may result in significant and uncontrolled contagion effects. As the DeFi ecosystem becomes increasingly linked with traditional financial infrastructure through instruments, such as stablecoins, the risk posed by this dynamic demands more powerful quantification tools. We introduce DeXposure-FM, the first time-series, graph foundation model for measuring and forecasting inter-protocol credit exposure on DeFi networks, to the best of our knowledge. Employing a graph-tabular encoder, with pre-trained weight initialization, and multiple task-specific heads, DeXposure-FM is trained on the DeXposure dataset that has 43.7 million data entries, across 4,300+ protocols on 602 blockchains, covering 24,300+ unique tokens. The training is operationalized for credit-exposure forecasting, predicting the joint dynamics of (1) protocol-level flows, and (2) the topology and weights of credit-exposure links. The DeXposure-FM is empirically validated on two machine learning benchmarks; it consistently outperforms the state-of-the-art approaches, including a graph foundation model and temporal graph neural networks. DeXposure-FM further produces financial economics tools that support macroprudential monitoring and scenario-based DeFi stress testing, by enabling protocol-level systemic-importance scores, sector-level spillover and concentration measures via a forecast-then-measure pipeline. Empirical verification fully supports our financial economics tools. The model and code have been publicly available. Model: https://huggingface.co/EVIEHub/DeXposure-FM. Code: https://github.com/EVIEHub/DeXposure-FM. |
| title | DeXposure-FM: A Time-series, Graph Foundation Model for Credit Exposures and Stability on Decentralized Financial Networks |
| topic | Machine Learning Artificial Intelligence Econometrics |
| url | https://arxiv.org/abs/2602.03981 |