Scoring Explained: Where Do the Numbers Come From?

Full transparency report for the 14-channel systemic risk scoring framework. Every number traced to its source data.

1. The Big Picture: Three Dimensions, One Score

The scoring framework ranks 14 systemic risk channels using a composite of three dimensions. Each dimension is independently normalized to [0, 1], then combined via fixed weights. The weights are the author's analytical judgment, hardcoded in channel_mapper.py lines 276–278. No optimization or theoretical derivation was used to set them.

composite = 0.35 × literature_volume + 0.35 × citation_impact + 0.30 × crisis_evidence

Literature Volume

0.35

How many papers were retrieved for this channel via OpenAlex search.

Normalization: paper_count / max_paper_count

Max = 348 papers (gateway_risk)

Source: openalex_merged.json (2,433 papers)

Citation Impact

0.35

Mean citations of the 10 most-cited papers in the channel.

Normalization: mean_top10 / max_mean_top10

Max = 5,228.8 cites (bridge_vulnerability)

Source: openalex_merged.json cited_by_count field

Crisis Evidence

0.30

Sum of log10(losses_usd) for all crisis events activating this channel.

Normalization: sum_log10 / max_sum_log10

Max = 116.08 (counterparty_concentration)

Source: crisis_chronology.json (curated events)

Key architectural fact: Papers feed dimensions 1 and 2. Crisis events feed dimension 3. These are separate data sources that meet only at the composite formula.

2. How Papers Contribute (and Where They Do Not)

Each paper in openalex_merged.json has a channels[] array (assigned during search) and a cited_by_count integer (from OpenAlex). Here is exactly how each paper affects the score:

Dimension 1: Literature Volume

Each paper adds +1 to every channel listed in its channels[] array. Binary counting. No weighting by citations, year, or relevance.

Result: 10 of 14 channels hit the 200-paper retrieval cap and therefore have identical literature_volume scores of 0.5747.

Dimension 2: Citation Impact

Within each channel, papers are sorted by cited_by_count descending. Only the top 10 most-cited papers matter. Their citations are summed and divided by 10 (always 10, even if fewer papers exist). Papers ranked #11 and below contribute nothing to this dimension.
Critical design implication: A single highly-cited paper that is topically irrelevant to the channel — but was retrieved by the search query — can dominate the channel's citation impact score. This is the primary source of score inflation.

Dimension 3: Crisis Evidence

Papers do not contribute at all to this dimension. Crisis evidence comes entirely from crisis_chronology.json, a manually curated list of crisis events. Each event has a channels_activated[] array and a losses_usd value. The weight contributed per event = log10(losses_usd). Events with undetermined losses receive the median imputed value (log10 = 8.4843).

3. Per-Channel Deep Dive (14 Channels)

Each card below shows the full scoring breakdown for one channel, in rank order. Expand any card to see which papers and events produced the numbers.

1Cross-Chain Bridge Vulnerability CAP-200 RELEVANCE0.7063

a) Score Breakdown

Lit. Volume
200 / 348
0.5747 Cit. Impact
5,228.8 / 5,228.8
1.0000 Crisis Evidence
60.0 / 116.1
0.5171
0.35 × 0.5747 + 0.35 × 1.0000 + 0.30 × 0.5171 = 0.7063

b) Top-10 Most-Cited Papers (Define Citation Impact)

#TitleYearCitations# Channels
1CHARMM: The biomolecular simulation program IRRELEVANT?20098,9371
2Nano based drug delivery systems: recent developments and future prospects IRRELEVANT?20186,3281
3ImageJ2: ImageJ for the next generation of scientific image data IRRELEVANT?20176,1121
4A survey of transfer learning IRRELEVANT?20165,9821
5Biological properties of extracellular vesicles and their physiological functions IRRELEVANT?20155,7611
6Natural products in drug discovery: advances and opportunities IRRELEVANT?20214,6661
7Artificial Intelligence (AI): Multidisciplinary perspectives on emerging challenges, opportunities, IRRELEVANT?20193,7601
8The role of hydrogen and fuel cells in the global energy system IRRELEVANT?20183,6201
9Present and Future of Surface-Enhanced Raman Scattering IRRELEVANT?20193,5961
10Internet of things: Vision, applications and research challenges IRRELEVANT?20123,5261
Sum / 10 = mean_top1052,288 / 10= 5,228.8

c) Bottom-5 Papers (Illustrate Range)

TitleCitations
Critical review of the molecular design progress in non-fullerene electron acceptors towards commerc970
Survey of Multifidelity Methods in Uncertainty Propagation, Inference, and Optimization958
Selective chemical protein modification957
Reconceptualising adaptation to climate change as part of pathways of change and response953
Next-generation sequencing technologies and their implications for crop genetics and breeding947

d) Crisis Events Contributing

EventDateLoss (USD)log10 Weight
Poly Network Hack2021-08$611M8.7860
Wormhole Bridge Hack2022-02$326M8.5132
Ronin Bridge Hack2022-03$625M8.7959
Nomad Bridge Hack2022-08$190M8.2788
Multichain Bridge Collapse2023-07$126M8.1004
Bybit $1.5B Hack2025-02$1.5B9.1761
WazirX Multi-Sig Exploit2024-07$235M8.3711
Sum (raw)60.0215
Normalized (/ 116.08)0.5171

e) Red Flag Check

CAP-200 Hit the 200-paper retrieval cap. Literature volume is compressed.
RELEVANCE 10 of 10 top-cited papers have titles with no channel-related keywords.
2Liquidity Spirals RELEVANCE RETRACTED0.6705

a) Score Breakdown

Lit. Volume
263 / 348
0.7557 Cit. Impact
1,603.6 / 5,228.8
0.3067 Crisis Evidence
115.6 / 116.1
0.9957
0.35 × 0.7557 + 0.35 × 0.3067 + 0.30 × 0.9957 = 0.6705

b) Top-10 Most-Cited Papers (Define Citation Impact)

#TitleYearCitations# Channels
1Deciphering the Liquidity and Credit Crunch 2007–200820093,3618
2Blockchain technology in the energy sector: A systematic review of challenges and opportunities20182,2975
3Unmanned Aerial Vehicles (UAVs): A Survey on Civil Applications and Key Research Challenges IRRELEVANT?20192,1381
4A survey on sentiment analysis methods, applications, and challenges IRRELEVANT?20221,3311
5Physical Unclonable Functions and Applications: A Tutorial IRRELEVANT?20141,2741
6SoK: Research Perspectives and Challenges for Bitcoin and Cryptocurrencies20151,2053
7Impact of COVID-19 pandemic on information management research and practice: Transforming education, IRRELEVANT?20201,1921
8RETRACTED: Cryptocurrencies as a financial asset: A systematic analysis20181,1037
9Post-quantum cryptography20171,0781
10A Survey of Blockchain From the Perspectives of Applications, Challenges, and Opportunities20191,0574
Sum / 10 = mean_top1016,036 / 10= 1,603.6

c) Bottom-5 Papers (Illustrate Range)

TitleCitations
Global Trends in Cryptocurrency Regulation: An Overview5
Blockchain Empowers Chain Enterprises in the Digital Economy to Strengthen Risk Management Research5
The Economics of the Blockchain: A study of its engineering and transaction services marketplace5
On the Just-In-Time Discovery of Profit-Generating Transactions in DeFi Protocols5
Decentralized Finance (DeFi): Benefits, Risks, and RiskMitigation Strategies5

d) Crisis Events Contributing

EventDateLoss (USD)log10 Weight
Black Thursday (COVID Crash)2020-03undetermined (median imputed)8.4843
SushiSwap Vampire Attack2020-09undetermined (median imputed)8.4843
Iron Finance / TITAN Collapse2021-06$2.0B9.3010
Wormhole Bridge Hack2022-02$326M8.5132
Terra/Luna Collapse2022-05$45.0B10.6532
Three Arrows Capital Insolvency2022-06$3.5B9.5441
Celsius Network and Voyager Digital Failures2022-06/07$5.4B9.7324
FTX Collapse2022-11$8.7B9.9395
Euler Finance Exploit2023-03$197M8.2945
SVB Failure and USDC De-Peg2023-03undetermined (median imputed)8.4843
Curve Finance Pool Exploit2023-07$62M7.7924
Bybit $1.5B Hack2025-02$1.5B9.1761
Hyperliquid Whale Manipulation Events2025-03$15M7.1761
Sum (raw)115.5754
Normalized (/ 116.08)0.9957

e) Red Flag Check

RELEVANCE 4 of 10 top-cited papers have titles with no channel-related keywords.
RETRACTED 1 retracted paper(s) in the top-10.
3Gateway Risk (Fiat-Crypto Bridging) RELEVANCE RETRACTED0.6677

a) Score Breakdown

Lit. Volume
348 / 348
1.0000 Cit. Impact
1,699.5 / 5,228.8
0.3250 Crisis Evidence
78.9 / 116.1
0.6799
0.35 × 1.0000 + 0.35 × 0.3250 + 0.30 × 0.6799 = 0.6677

b) Top-10 Most-Cited Papers (Define Citation Impact)

#TitleYearCitations# Channels
1Deciphering the Liquidity and Credit Crunch 2007–2008 IRRELEVANT?20093,3618
2Hyperledger fabric IRRELEVANT?20183,2461
3Blockchain technology in the energy sector: A systematic review of challenges and opportunities20182,2975
4Where Is Current Research on Blockchain Technology?—A Systematic Review20162,2621
5SoK: Research Perspectives and Challenges for Bitcoin and Cryptocurrencies20151,2053
6RETRACTED: Cryptocurrencies as a financial asset: A systematic analysis20181,1037
7Blockchain for AI: Review and Open Research Challenges20199633
8Fiscal Volatility Shocks and Economic Activity IRRELEVANT?20159141
9Security and Privacy on Blockchain20198482
10The impact of the blockchain on the supply chain: a theory-based research framework and a call for a20187961
Sum / 10 = mean_top1016,995 / 10= 1,699.5

c) Bottom-5 Papers (Illustrate Range)

TitleCitations
Designing the future of bond markets: Reducing transaction costs through tokenization6
United States6
Capital Flow Management Measures in the Digital Age5
Smart Contract Enabled Cryptocurrency Payment Gateways for SAP ERP Modules5
Working Paper 38: Cryptocurrencies in Asia and beyond: law, regulation and enforcement5

d) Crisis Events Contributing

EventDateLoss (USD)log10 Weight
Mt. Gox Collapse2014-02$460M8.6628
QuadrigaCX Collapse2019-02$190M8.2788
Black Thursday (COVID Crash)2020-03undetermined (median imputed)8.4843
Celsius Network and Voyager Digital Failures2022-06/07$5.4B9.7324
FTX Collapse2022-11$8.7B9.9395
SVB Failure and USDC De-Peg2023-03undetermined (median imputed)8.4843
BTC-e Seizure and Shutdown2017-07undetermined (median imputed)8.4843
DMM Bitcoin Exchange Hack and Closure2024-05$305M8.4843
WazirX Multi-Sig Exploit2024-07$235M8.3711
Sum (raw)78.9218
Normalized (/ 116.08)0.6799

e) Red Flag Check

RELEVANCE 3 of 10 top-cited papers have titles with no channel-related keywords.
RETRACTED 1 retracted paper(s) in the top-10.
4Composability Risk CAP-200 RELEVANCE0.6257

a) Score Breakdown

Lit. Volume
200 / 348
0.5747 Cit. Impact
3,024.5 / 5,228.8
0.5784 Crisis Evidence
85.9 / 116.1
0.7403
0.35 × 0.5747 + 0.35 × 0.5784 + 0.30 × 0.7403 = 0.6257

b) Top-10 Most-Cited Papers (Define Citation Impact)

#TitleYearCitations# Channels
1Global, regional, and national incidence, prevalence, and years lived with disability for 310 diseas IRRELEVANT?20167,3111
22015 ESC Guidelines for the management of patients with ventricular arrhythmias and the prevention o IRRELEVANT?20153,8621
3The Blood–Brain Barrier IRRELEVANT?20153,1761
4Safeguarding human health in the Anthropocene epoch: report of The Rockefeller Foundation–Lancet Com IRRELEVANT?20152,7382
5The FNIH Sarcopenia Project: Rationale, Study Description, Conference Recommendations, and Final Est IRRELEVANT?20142,4291
6The Brazilian health system: history, advances, and challenges IRRELEVANT?20112,3451
72010 ACCF/AHA/AATS/ACR/ASA/SCA/SCAI/SIR/STS/SVM Guidelines for the Diagnosis and Management of Patie IRRELEVANT?20102,2811
8Toxicity of lead: a review with recent updates IRRELEVANT?20122,0671
9Paving the Way for Lignin Valorisation: Recent Advances in Bioengineering, Biorefining and Catalysis IRRELEVANT?20162,0291
10Neutrophil elastase and myeloperoxidase regulate the formation of neutrophil extracellular traps IRRELEVANT?20102,0071
Sum / 10 = mean_top1030,245 / 10= 3,024.5

c) Bottom-5 Papers (Illustrate Range)

TitleCitations
Role of B Cells in Multiple Sclerosis and Related Disorders271
Liver zonation: Novel aspects of its regulation and its impact on homeostasis270
The Beneficial Roles of SIRT1 in Neuroinflammation-Related Diseases270
Geology of the Caucasus: A Review270
Forgotten fungi—the gut mycobiome in human health and disease269

d) Crisis Events Contributing

EventDateLoss (USD)log10 Weight
The DAO Hack2016-06$60M7.7782
SushiSwap Vampire Attack2020-09undetermined (median imputed)8.4843
Iron Finance / TITAN Collapse2021-06$2.0B9.3010
Poly Network Hack2021-08$611M8.7860
Wormhole Bridge Hack2022-02$326M8.5132
Terra/Luna Collapse2022-05$45.0B10.6532
Nomad Bridge Hack2022-08$190M8.2788
Euler Finance Exploit2023-03$197M8.2945
Curve Finance Pool Exploit2023-07$62M7.7924
Mango Markets Exploit2022-10$114M8.0569
Sum (raw)85.9385
Normalized (/ 116.08)0.7403

e) Red Flag Check

CAP-200 Hit the 200-paper retrieval cap. Literature volume is compressed.
RELEVANCE 10 of 10 top-cited papers have titles with no channel-related keywords.
5Counterparty Concentration CAP-200 RELEVANCE0.5751

a) Score Breakdown

Lit. Volume
200 / 348
0.5747 Cit. Impact
1,105.1 / 5,228.8
0.2113 Crisis Evidence
116.1 / 116.1
1.0000
0.35 × 0.5747 + 0.35 × 0.2113 + 0.30 × 1.0000 = 0.5751

b) Top-10 Most-Cited Papers (Define Citation Impact)

#TitleYearCitations# Channels
1Deciphering the Liquidity and Credit Crunch 2007–2008 IRRELEVANT?20093,3618
2Blockchain technology in the energy sector: A systematic review of challenges and opportunities20182,2975
3SoK: Research Perspectives and Challenges for Bitcoin and Cryptocurrencies20151,2053
4Sex, Drugs, and Bitcoin: How Much Illegal Activity Is Financed through Cryptocurrencies?20198513
5Solutions to Scalability of Blockchain: A Survey20206731
6Blockchain Technologies: The Foreseeable Impact on Society and Industry20176693
7Fusing Blockchain and AI With Metaverse: A Survey20225393
8Decentralized Finance: On Blockchain- and Smart Contract-Based Financial Markets20214997
9Central Bank Digital Currency and the Future of Monetary Policy20174924
10Converging blockchain and next-generation artificial intelligence technologies to decentralize and a20174654
Sum / 10 = mean_top1011,051 / 10= 1,105.1

c) Bottom-5 Papers (Illustrate Range)

TitleCitations
Blockchain Meets Sharing Economy: A Case of Smart Contract Enabled Ridesharing Service31
PEReDi31
Global networks of money and information at the crossroads: Correspondent banking and SWIFT30
Cryptocurrency volatility markets30
Uncovering Retail Trading in Bitcoin: The Impact of COVID-19 Stimulus Checks30

d) Crisis Events Contributing

EventDateLoss (USD)log10 Weight
Mt. Gox Collapse2014-02$460M8.6628
Bitfinex Hack2016-08$72M7.8573
QuadrigaCX Collapse2019-02$190M8.2788
Ronin Bridge Hack2022-03$625M8.7959
Terra/Luna Collapse2022-05$45.0B10.6532
Three Arrows Capital Insolvency2022-06$3.5B9.5441
Celsius Network and Voyager Digital Failures2022-06/07$5.4B9.7324
FTX Collapse2022-11$8.7B9.9395
Multichain Bridge Collapse2023-07$126M8.1004
BTC-e Seizure and Shutdown2017-07undetermined (median imputed)8.4843
Bybit $1.5B Hack2025-02$1.5B9.1761
DMM Bitcoin Exchange Hack and Closure2024-05$305M8.4843
WazirX Multi-Sig Exploit2024-07$235M8.3711
Sum (raw)116.0802
Normalized (/ 116.08)1.0000

e) Red Flag Check

CAP-200 Hit the 200-paper retrieval cap. Literature volume is compressed.
RELEVANCE 1 of 10 top-cited papers have titles with no channel-related keywords.
6Validator/Miner Concentration CAP-200 RELEVANCE0.5613

a) Score Breakdown

Lit. Volume
200 / 348
0.5747 Cit. Impact
5,041.1 / 5,228.8
0.9641 Crisis Evidence
8.8 / 116.1
0.0758
0.35 × 0.5747 + 0.35 × 0.9641 + 0.30 × 0.0758 = 0.5613

b) Top-10 Most-Cited Papers (Define Citation Impact)

#TitleYearCitations# Channels
1A comparative risk assessment of burden of disease and injury attributable to 67 risk factors and ri IRRELEVANT?201211,9361
2Integrative analysis of 111 reference human epigenomes IRRELEVANT?20157,0151
3Heavy Metal Toxicity and the Environment IRRELEVANT?20126,8371
4Cancer nanomedicine: progress, challenges and opportunities IRRELEVANT?20165,4751
5Interaction between microbiota and immunity in health and disease IRRELEVANT?20203,6521
6Deciphering the Liquidity and Credit Crunch 2007–2008 IRRELEVANT?20093,3618
7Parkinson's disease IRRELEVANT?20213,3271
8World agriculture towards 2030/2050: the 2012 revision IRRELEVANT?20123,1421
9Role of the normal gut microbiota IRRELEVANT?20152,9281
10Safeguarding human health in the Anthropocene epoch: report of The Rockefeller Foundation–Lancet Com IRRELEVANT?20152,7382
Sum / 10 = mean_top1050,411 / 10= 5,041.1

c) Bottom-5 Papers (Illustrate Range)

TitleCitations
Understanding and Enhancing Soil Biological Health: The Solution for Reversing Soil Degradation421
New Particle Formation in the Atmosphere: From Molecular Clusters to Global Climate421
Toxicity of Heavy Metals and Recent Advances in Their Removal: A Review420
The oralome and its dysbiosis: New insights into oral microbiome-host interactions418
The dental plaque biofilm matrix416

d) Crisis Events Contributing

EventDateLoss (USD)log10 Weight
Ronin Bridge Hack2022-03$625M8.7959
Sum (raw)8.7959
Normalized (/ 116.08)0.0758

e) Red Flag Check

CAP-200 Hit the 200-paper retrieval cap. Literature volume is compressed.
RELEVANCE 10 of 10 top-cited papers have titles with no channel-related keywords.
7Information Asymmetry and Opacity CAP-200 RELEVANCE RETRACTED0.4485

a) Score Breakdown

Lit. Volume
200 / 348
0.5747 Cit. Impact
927.2 / 5,228.8
0.1773 Crisis Evidence
71.7 / 116.1
0.6175
0.35 × 0.5747 + 0.35 × 0.1773 + 0.30 × 0.6175 = 0.4485

b) Top-10 Most-Cited Papers (Define Citation Impact)

#TitleYearCitations# Channels
1Blockchain technology in the energy sector: A systematic review of challenges and opportunities20182,2975
2The Road Towards 6G: A Comprehensive Survey IRRELEVANT?20211,4301
3RETRACTED: Cryptocurrencies as a financial asset: A systematic analysis20181,1037
4A Survey of Blockchain From the Perspectives of Applications, Challenges, and Opportunities20191,0574
5Blockchain for Industry 4.0: A Comprehensive Review20207263
6ZEUS: Analyzing Safety of Smart Contracts IRRELEVANT?20186951
7Decentralized Finance: On Blockchain- and Smart Contract-Based Financial Markets20214997
8Central Bank Digital Currency and the Future of Monetary Policy IRRELEVANT?20174924
9The i-frame and the s-frame: How focusing on individual-level solutions has led behavioral public po IRRELEVANT?20224914
10Initial Coin Offerings: Financing Growth with Cryptocurrency Token Sales20194824
Sum / 10 = mean_top109,272 / 10= 927.2

c) Bottom-5 Papers (Illustrate Range)

TitleCitations
Intelligent Smart Contracts for Innovative Supply Chain Management54
Central bank digital currencies: A critical review53
Blockchain: A Comparative Study of Consensus Algorithms PoW, PoS, PoA, PoV53
Energy Internet Opportunities in Distributed Peer-to-Peer Energy Trading Reveal by Blockchain for Fu52
Blockchain-Based Wireless Sensor Networks for Malicious Node Detection: A Survey52

d) Crisis Events Contributing

EventDateLoss (USD)log10 Weight
Mt. Gox Collapse2014-02$460M8.6628
Bitfinex Hack2016-08$72M7.8573
QuadrigaCX Collapse2019-02$190M8.2788
Three Arrows Capital Insolvency2022-06$3.5B9.5441
Celsius Network and Voyager Digital Failures2022-06/07$5.4B9.7324
FTX Collapse2022-11$8.7B9.9395
Bybit $1.5B Hack2025-02$1.5B9.1761
DMM Bitcoin Exchange Hack and Closure2024-05$305M8.4843
Sum (raw)71.6753
Normalized (/ 116.08)0.6175

e) Red Flag Check

CAP-200 Hit the 200-paper retrieval cap. Literature volume is compressed.
RELEVANCE 4 of 10 top-cited papers have titles with no channel-related keywords.
RETRACTED 1 retracted paper(s) in the top-10.
8Liquidation Cascades CAP-200 RELEVANCE0.3811

a) Score Breakdown

Lit. Volume
200 / 348
0.5747 Cit. Impact
1,151.3 / 5,228.8
0.2202 Crisis Evidence
39.8 / 116.1
0.3429
0.35 × 0.5747 + 0.35 × 0.2202 + 0.30 × 0.3429 = 0.3811

b) Top-10 Most-Cited Papers (Define Citation Impact)

#TitleYearCitations# Channels
1Deciphering the Liquidity and Credit Crunch 2007–2008 IRRELEVANT?20093,3618
2The pandemic of physical inactivity: global action for public health IRRELEVANT?20122,9871
3Input Specificity and the Propagation of Idiosyncratic Shocks in Production Networks* IRRELEVANT?20161,1701
4World Development Report 2018: Learning to Realize Education's Promise IRRELEVANT?20171,0871
5The political origins of health inequity: prospects for change IRRELEVANT?20146641
6Essential medicines for universal health coverage IRRELEVANT?20165931
7Did Fair-Value Accounting Contribute to the Financial Crisis?20105471
8Nanomaterials and nanotechnology for the delivery of agrochemicals: strategies towards sustainable a IRRELEVANT?20224231
9Power Laws in Economics: An Introduction IRRELEVANT?20164155
10Investors’ choices between cash and voting rights: Evidence from dual-class equity crowdfunding IRRELEVANT?20192661
Sum / 10 = mean_top1011,513 / 10= 1,151.3

c) Bottom-5 Papers (Illustrate Range)

TitleCitations
Macroeconomic factors behind financial instability: Evidence from Granger causality tests5
Underdeveloping Appalachia: Toward an Environmental Sociology of Extractive Economies5
WATERKINO and HYDROMEDIA: How to Dissolve the Past to Build a More Viable Future5
Effects of Shopping Flow in Experiential Fashion Stores on Brand Advocacy : Multi-mediating Effects 5
Financial Regulatory Reform: A Progress Report5

d) Crisis Events Contributing

EventDateLoss (USD)log10 Weight
Black Thursday (COVID Crash)2020-03undetermined (median imputed)8.4843
Euler Finance Exploit2023-03$197M8.2945
Curve Finance Pool Exploit2023-07$62M7.7924
Mango Markets Exploit2022-10$114M8.0569
Hyperliquid Whale Manipulation Events2025-03$15M7.1761
Sum (raw)39.8042
Normalized (/ 116.08)0.3429

e) Red Flag Check

CAP-200 Hit the 200-paper retrieval cap. Literature volume is compressed.
RELEVANCE 9 of 10 top-cited papers have titles with no channel-related keywords.
9Network Contagion CAP-200 RELEVANCE RETRACTED0.3801

a) Score Breakdown

Lit. Volume
200 / 348
0.5747 Cit. Impact
854.8 / 5,228.8
0.1635 Crisis Evidence
47.1 / 116.1
0.4058
0.35 × 0.5747 + 0.35 × 0.1635 + 0.30 × 0.4058 = 0.3801

b) Top-10 Most-Cited Papers (Define Citation Impact)

#TitleYearCitations# Channels
1Deciphering the Liquidity and Credit Crunch 2007–2008 IRRELEVANT?20093,3618
2Refined Measures of Dynamic Connectedness based on Time-Varying Parameter Vector Autoregressions20201,3091
3RETRACTED: Cryptocurrencies as a financial asset: A systematic analysis20181,1037
4Dynamic connectedness and integration in cryptocurrency markets20185802
5The i-frame and the s-frame: How focusing on individual-level solutions has led behavioral public po IRRELEVANT?20224914
6Power Laws in Economics: An Introduction IRRELEVANT?20164155
7Cryptocurrency trading: a comprehensive survey20223797
8Discriminating Data IRRELEVANT?20213631
9Examining the interconnectedness of green finance: an analysis of dynamic spillover effects among gr20233162
10Dynamic connectedness between stock markets in the presence of the COVID-19 pandemic: does economic 20212312
Sum / 10 = mean_top108,548 / 10= 854.8

c) Bottom-5 Papers (Illustrate Range)

TitleCitations
Money for Nothing and Bits for Free: The Geographies of Bitcoin18
Spillovers between cryptocurrencies and financial markets in a global framework18
Stock market responses to COVID-19: The behaviors of mean reversion, dependence and persistence18
“Economically inefficient and legally untenable”: constitutional limitations on the introduction of 18
Financial market information flows when counteracting rogue states: The indirect effects of targeted18

d) Crisis Events Contributing

EventDateLoss (USD)log10 Weight
Black Thursday (COVID Crash)2020-03undetermined (median imputed)8.4843
Terra/Luna Collapse2022-05$45.0B10.6532
Three Arrows Capital Insolvency2022-06$3.5B9.5441
FTX Collapse2022-11$8.7B9.9395
SVB Failure and USDC De-Peg2023-03undetermined (median imputed)8.4843
Sum (raw)47.1054
Normalized (/ 116.08)0.4058

e) Red Flag Check

CAP-200 Hit the 200-paper retrieval cap. Literature volume is compressed.
RELEVANCE 4 of 10 top-cited papers have titles with no channel-related keywords.
RETRACTED 1 retracted paper(s) in the top-10.
10Governance Failure CAP-200 RELEVANCE RETRACTED0.3453

a) Score Breakdown

Lit. Volume
200 / 348
0.5747 Cit. Impact
1,213.3 / 5,228.8
0.2320 Crisis Evidence
24.4 / 116.1
0.2099
0.35 × 0.5747 + 0.35 × 0.2320 + 0.30 × 0.2099 = 0.3453

b) Top-10 Most-Cited Papers (Define Citation Impact)

#TitleYearCitations# Channels
1Blockchain technology in the energy sector: A systematic review of challenges and opportunities20182,2975
2Scientists' warning on invasive alien species IRRELEVANT?20201,9941
3Blockchain technology overview20181,4531
4RETRACTED: Cryptocurrencies as a financial asset: A systematic analysis20181,1037
5A Survey of Blockchain From the Perspectives of Applications, Challenges, and Opportunities20191,0574
6Blockchain for AI: Review and Open Research Challenges20199633
7Blockchain application and outlook in the banking industry20169461
8Applications of Blockchains in the Internet of Things: A Comprehensive Survey20188362
9Blockchain smart contracts: Applications, challenges, and future trends20217673
10New frontiers and conceptual frameworks for energy justice IRRELEVANT?20177171
Sum / 10 = mean_top1012,133 / 10= 1,213.3

c) Bottom-5 Papers (Illustrate Range)

TitleCitations
Chikungunya seroprevalence, force of infection, and prevalence of chronic disability after infection62
The computing continuum: From IoT to the cloud62
Advancing disaster risk reduction through the integration of science, design, and policy into eco-en62
A conceptual model and case study of blockchain-enabled social media platform61
Globalization, National Identity, and Citizenship Education: China’s Search for Modernization and a 61

d) Crisis Events Contributing

EventDateLoss (USD)log10 Weight
The DAO Hack2016-06$60M7.7782
SushiSwap Vampire Attack2020-09undetermined (median imputed)8.4843
Multichain Bridge Collapse2023-07$126M8.1004
Sum (raw)24.3629
Normalized (/ 116.08)0.2099

e) Red Flag Check

CAP-200 Hit the 200-paper retrieval cap. Literature volume is compressed.
RELEVANCE 2 of 10 top-cited papers have titles with no channel-related keywords.
RETRACTED 1 retracted paper(s) in the top-10.
11Stablecoin Runs RELEVANCE0.3036

a) Score Breakdown

Lit. Volume
218 / 348
0.6264 Cit. Impact
161.4 / 5,228.8
0.0309 Crisis Evidence
28.4 / 116.1
0.2450
0.35 × 0.6264 + 0.35 × 0.0309 + 0.30 × 0.2450 = 0.3036

b) Top-10 Most-Cited Papers (Define Citation Impact)

#TitleYearCitations# Channels
1Fintech, Cryptocurrencies, and CBDC: Financial Structural Transformation in China20222875
2A clean, green haven?—Examining the relationship between clean energy, clean and dirty cryptocurrenc20222753
3Blockchain Meets Metaverse and Digital Asset Management: A Comprehensive Survey IRRELEVANT?20232284
4Automated market makers and decentralized exchanges: a DeFi primer20221393
5Self-Sovereign Identity in a Globalized World: Credentials-Based Identity Systems as a Driver for Ec IRRELEVANT?20201284
6Essays in International Finance IRRELEVANT?20241221
7Decentralized finance research and developments around the world IRRELEVANT?20221195
8From Bitcoin to Central Bank Digital Currencies: Making Sense of the Digital Money Revolution IRRELEVANT?20211126
9The Promise of Fintech IRRELEVANT?20201122
10Cryptocurrencies and Decentralized Finance (DeFi)2022926
Sum / 10 = mean_top101,614 / 10= 161.4

c) Bottom-5 Papers (Illustrate Range)

TitleCitations
Valuation of cryptoassets in <scp>EU</scp> insolvency: Challenges and prospects5
Digital Modernity5
A Comprehensive Guide for Web3 Security5
Technology versus trust: Non-bank credit systems from notarized loans in Early Modern Europe to cryp5
Crypto-Litigation: An Empirical Overview for 2020–Present5

d) Crisis Events Contributing

EventDateLoss (USD)log10 Weight
Iron Finance / TITAN Collapse2021-06$2.0B9.3010
Terra/Luna Collapse2022-05$45.0B10.6532
SVB Failure and USDC De-Peg2023-03undetermined (median imputed)8.4843
Sum (raw)28.4385
Normalized (/ 116.08)0.2450

e) Red Flag Check

RELEVANCE 6 of 10 top-cited papers have titles with no channel-related keywords.
12Oracle Manipulation RELEVANCE0.2945

a) Score Breakdown

Lit. Volume
208 / 348
0.5977 Cit. Impact
686.9 / 5,228.8
0.1314 Crisis Evidence
15.2 / 116.1
0.1312
0.35 × 0.5977 + 0.35 × 0.1314 + 0.30 × 0.1312 = 0.2945

b) Top-10 Most-Cited Papers (Define Citation Impact)

#TitleYearCitations# Channels
1Setting the future of digital and social media marketing research: Perspectives and research proposi IRRELEVANT?20202,3021
2Molecular Mechanisms That Influence the Macrophage M1–M2 Polarization Balance IRRELEVANT?20141,8931
3Decentralized Finance: On Blockchain- and Smart Contract-Based Financial Markets20214997
4Use of Delphi in health sciences research: A narrative review IRRELEVANT?20234741
5Decentralized Finance: On Blockchain- and Smart Contract-based Financial Markets20203897
6The Metaverse: A new digital frontier for consumer behavior IRRELEVANT?20233302
7Evaluative infrastructures: Accounting for platform organization IRRELEVANT?20173031
8Quantum Computer Systems for Scientific Discovery IRRELEVANT?20212321
9Innovative Business Models and Varieties of Capitalism: Financialization of the U.S. Corporation IRRELEVANT?20102311
10Sustainability of the Metaverse: A Transition to Industry 5.0 IRRELEVANT?20232161
Sum / 10 = mean_top106,869 / 10= 686.9

c) Bottom-5 Papers (Illustrate Range)

TitleCitations
Digital monsters: Representations of humans on the Internet5
Towards Verified Price Oracles for Decentralized Exchange Protocols5
ACFIX: Guiding LLMs with Mined Common RBAC Practices for Context-Aware Repair of Access Control Vuln5
Revolutionizing Cryptocurrency Operations: The Role of Domain-Specific Large Language Models (LLMs)5
When ChatGPT Meets Smart Contract Vulnerability Detection: How Far Are We?5

d) Crisis Events Contributing

EventDateLoss (USD)log10 Weight
Mango Markets Exploit2022-10$114M8.0569
Hyperliquid Whale Manipulation Events2025-03$15M7.1761
Sum (raw)15.2330
Normalized (/ 116.08)0.1312

e) Red Flag Check

RELEVANCE 8 of 10 top-cited papers have titles with no channel-related keywords.
13Regulatory Contagion CAP-200 RELEVANCE RETRACTED0.2858

a) Score Breakdown

Lit. Volume
200 / 348
0.5747 Cit. Impact
937.3 / 5,228.8
0.1793 Crisis Evidence
8.5 / 116.1
0.0731
0.35 × 0.5747 + 0.35 × 0.1793 + 0.30 × 0.0731 = 0.2858

b) Top-10 Most-Cited Papers (Define Citation Impact)

#TitleYearCitations# Channels
1Deciphering the Liquidity and Credit Crunch 2007–2008 IRRELEVANT?20093,3618
2A Comprehensive Review of the COVID-19 Pandemic and the Role of IoT, Drones, AI, Blockchain, and 5G 20201,1081
3RETRACTED: Cryptocurrencies as a financial asset: A systematic analysis20181,1037
4Sex, Drugs, and Bitcoin: How Much Illegal Activity Is Financed through Cryptocurrencies?20198513
5Are cryptocurrencies a safe haven for equity markets? An international perspective from the COVID-1920205862
6Decentralized Finance: On Blockchain- and Smart Contract-Based Financial Markets20214997
7Central Bank Digital Currency and the Future of Monetary Policy20174924
8Initial Coin Offerings: Financing Growth with Cryptocurrency Token Sales20194824
9The technology and economic determinants of cryptocurrency exchange rates: The case of Bitcoin20164682
10Artificial Intelligence and Entrepreneurship: Implications for Venture Creation in the Fourth Indust IRRELEVANT?20204231
Sum / 10 = mean_top109,373 / 10= 937.3

c) Bottom-5 Papers (Illustrate Range)

TitleCitations
Novel evidence from APEC countries on stock market integration and volatility spillover: A Diebold a46
Assessing the impact of renewable energy tokens on BRICS stock markets: A new diversification approa46
CAN BITCOIN BE A SAFE HAVEN IN FEAR SENTIMENT?46
A Critical Analysis of Volatility Surprise in Bitcoin Cryptocurrency and Other Financial Assets46
Impact of COVID-19 and economic policy uncertainty on China’s stock market returns: evidence from qu46

d) Crisis Events Contributing

EventDateLoss (USD)log10 Weight
BTC-e Seizure and Shutdown2017-07undetermined (median imputed)8.4843
Sum (raw)8.4843
Normalized (/ 116.08)0.0731

e) Red Flag Check

CAP-200 Hit the 200-paper retrieval cap. Literature volume is compressed.
RELEVANCE 2 of 10 top-cited papers have titles with no channel-related keywords.
RETRACTED 1 retracted paper(s) in the top-10.
14Real-World Asset Transmission CAP-200 RELEVANCE RETRACTED0.2780

a) Score Breakdown

Lit. Volume
200 / 348
0.5747 Cit. Impact
1,148.4 / 5,228.8
0.2196 Crisis Evidence
0.0 / 116.1
0.0000
0.35 × 0.5747 + 0.35 × 0.2196 + 0.30 × 0.0000 = 0.2780

b) Top-10 Most-Cited Papers (Define Citation Impact)

#TitleYearCitations# Channels
1Digital Innovation Management: Reinventing Innovation Management Research in a Digital World IRRELEVANT?20172,5792
2GPT-4 Technical Report IRRELEVANT?20232,2391
3Data Feminism IRRELEVANT?20201,3641
4RETRACTED: Cryptocurrencies as a financial asset: A systematic analysis20181,1037
5A Survey of Blockchain From the Perspectives of Applications, Challenges, and Opportunities20191,0574
6Politicizing energy justice and energy system transitions: Fossil fuel divestment and a “just transi IRRELEVANT?20177851
7Zero Trust Architecture IRRELEVANT?20207061
8Participatory action research IRRELEVANT?20235652
9Strategies to save energy in the context of the energy crisis: a review IRRELEVANT?20235441
10A global federated real-world data and analytics platform for research IRRELEVANT?20235421
Sum / 10 = mean_top1011,484 / 10= 1,148.4

c) Bottom-5 Papers (Illustrate Range)

TitleCitations
Additional Labors of the Entrepreneurial Self75
Markets in crypto-assets regulation: Does it provide legal certainty and increase adoption of crypto74
Natural disasters as a development opportunity: a spatial economic resilience interpretation74
A Systematic Review and Thematic Analysis of Community-Collaborative Approaches to Computing Researc74
Blockchain and Smart Contracting for the Shareholder Community74

d) Crisis Events Contributing

No crisis events activate this channel. Crisis evidence = 0.0000.

e) Red Flag Check

CAP-200 Hit the 200-paper retrieval cap. Literature volume is compressed.
RELEVANCE 8 of 10 top-cited papers have titles with no channel-related keywords.
RETRACTED 1 retracted paper(s) in the top-10.

4. The Weight Question

Why 0.35 / 0.35 / 0.30?

No theoretical derivation exists for these weights. They reflect the author's judgment that literature volume and citation impact should carry equal weight, with crisis evidence slightly down-weighted because it is based on a smaller, manually curated dataset. This is disclosed in the paper.

Sensitivity analysis tests whether channel retention decisions change under four alternative weighting schemes:

Channel Primary (paper)
0.35 / 0.35 / 0.30
Equal
0.33 / 0.33 / 0.33
Crisis-dominant
0.25 / 0.25 / 0.50
Lit-dominant
0.50 / 0.25 / 0.25
Cross-Chain Bridge Vulnerability #1 (0.7063) #1 (=) (0.6973) #5 (+4) (0.6522) #3 (+2) (0.6666)
Liquidity Spirals #2 (0.6705) #2 (=) (0.6860) #1 (-1) (0.7634) #2 (=) (0.7035)
Gateway Risk (Fiat-Crypto Bridging) #3 (0.6677) #3 (=) (0.6683) #3 (=) (0.6712) #1 (-2) (0.7512)
Composability Risk #4 (0.6257) #4 (=) (0.6312) #4 (=) (0.6585) #4 (=) (0.6170)
Counterparty Concentration #5 (0.5751) #5 (=) (0.5954) #2 (-3) (0.6965) #5 (=) (0.5902)
Validator/Miner Concentration #6 (0.5613) #6 (=) (0.5382) #7 (+1) (0.4226) #6 (=) (0.5473)
Information Asymmetry and Opacity #7 (0.4485) #7 (=) (0.4565) #6 (-1) (0.4967) #7 (=) (0.4861)
Liquidation Cascades #8 (0.3811) #9 (+1) (0.3793) #9 (+1) (0.3702) #9 (+1) (0.4281)
Network Contagion #9 (0.3801) #8 (-1) (0.3813) #8 (-1) (0.3874) #8 (-1) (0.4297)
Governance Failure #10 (0.3453) #10 (=) (0.3389) #10 (=) (0.3066) #10 (=) (0.3978)
Stablecoin Runs #11 (0.3036) #11 (=) (0.3008) #11 (=) (0.2868) #11 (=) (0.3822)
Oracle Manipulation #12 (0.2945) #12 (=) (0.2868) #12 (=) (0.2479) #12 (=) (0.3645)
Regulatory Contagion #13 (0.2858) #13 (=) (0.2757) #13 (=) (0.2250) #13 (=) (0.3504)
Real-World Asset Transmission #14 (0.2780) #14 (=) (0.2648) #14 (=) (0.1986) #14 (=) (0.3423)
Key finding: The bottom 4 channels (ranks 11–14) remain the bottom 4 under all four weighting schemes. The top 5 are always in the top 5. Weight choice affects ordering within tiers but not the retention/exclusion boundary that the paper's analysis depends on.

5. Known Issues and Limitations

Issue 1: 200-Paper Retrieval Cap

10 of 14 channels hit the 200-paper cap imposed during OpenAlex search. This means their literature_volume scores are all identical (0.5747), eliminating Dimension 1 as a differentiator for the majority of channels. Only 4 channels (Liquidity Spirals, Gateway Risk (Fiat-Crypto Bridging), Stablecoin Runs, Oracle Manipulation) have distinct literature volume scores.

Issue 2: Irrelevant Papers Inflate Citation Scores

81 papers across all channels' top-10 lists have titles with no obvious keyword match to their assigned channel. The worst offenders:

ChannelFlaggedHighest-Cited Flagged PaperCitations
Cross-Chain Bridge Vulnerability10/10CHARMM: The biomolecular simulation program8,937
Liquidity Spirals4/10Unmanned Aerial Vehicles (UAVs): A Survey on Civil Applications and Key Research Challenges2,138
Gateway Risk (Fiat-Crypto Bridging)3/10Deciphering the Liquidity and Credit Crunch 2007–20083,361
Composability Risk10/10Global, regional, and national incidence, prevalence, and years lived with disability for 310 diseas7,311
Counterparty Concentration1/10Deciphering the Liquidity and Credit Crunch 2007–20083,361
Validator/Miner Concentration10/10A comparative risk assessment of burden of disease and injury attributable to 67 risk factors and ri11,936
Information Asymmetry and Opacity4/10The Road Towards 6G: A Comprehensive Survey1,430
Liquidation Cascades9/10Deciphering the Liquidity and Credit Crunch 2007–20083,361
Network Contagion4/10Deciphering the Liquidity and Credit Crunch 2007–20083,361
Governance Failure2/10Scientists' warning on invasive alien species1,994
Stablecoin Runs6/10Blockchain Meets Metaverse and Digital Asset Management: A Comprehensive Survey228
Oracle Manipulation8/10Setting the future of digital and social media marketing research: Perspectives and research proposi2,302
Regulatory Contagion2/10Deciphering the Liquidity and Credit Crunch 2007–20083,361
Real-World Asset Transmission8/10Digital Innovation Management: Reinventing Innovation Management Research in a Digital World2,579

Issue 3: Single-Coder Crisis Chronology

All crisis events and their channel assignments were curated by a single researcher. No inter-coder reliability was assessed. The channels_activated mapping is subjective.

Issue 4: Terra/Luna Cross-Channel Amplification

The Terra/Luna collapse ($45B) activates 5 channels simultaneously: Liquidity Spirals, Composability Risk, Counterparty Concentration, Network Contagion, Stablecoin Runs. Its log10 weight of 10.6532 is the single largest event contribution. This one event substantially shapes Dimension 3 for multiple channels.

Issue 5: Retracted Papers in Top-10

The following retracted papers appear in top-10 lists and contribute to citation impact scores:

PaperChannelsCitations
RETRACTED: Cryptocurrencies as a financial asset: A systematic analysisNetwork Contagion, Liquidity Spirals, Regulatory Contagion, Gateway Risk (Fiat-Crypto Bridging), Governance Failure, Information Asymmetry and Opacity, Real-World Asset Transmission1,103

Issue 6: Multi-Channel Papers Inflate Multiple Scores

13 papers appear in the top-10 list of more than one channel. A single highly-cited paper thus inflates citation impact for multiple channels simultaneously:

PaperAppears in Top-10 of
Deciphering the Liquidity and Credit Crunch 2007–2008Liquidity Spirals, Gateway Risk (Fiat-Crypto Bridging), Counterparty Concentration, Validator/Miner Concentration, Liquidation Cascades, Network Contagion, Regulatory Contagion
RETRACTED: Cryptocurrencies as a financial asset: A systematic analysisLiquidity Spirals, Gateway Risk (Fiat-Crypto Bridging), Information Asymmetry and Opacity, Network Contagion, Governance Failure, Regulatory Contagion, Real-World Asset Transmission
Blockchain technology in the energy sector: A systematic review of challenges and opportunLiquidity Spirals, Gateway Risk (Fiat-Crypto Bridging), Counterparty Concentration, Information Asymmetry and Opacity, Governance Failure
A Survey of Blockchain From the Perspectives of Applications, Challenges, and OpportunitieLiquidity Spirals, Information Asymmetry and Opacity, Governance Failure, Real-World Asset Transmission
Decentralized Finance: On Blockchain- and Smart Contract-Based Financial MarketsCounterparty Concentration, Information Asymmetry and Opacity, Oracle Manipulation, Regulatory Contagion
SoK: Research Perspectives and Challenges for Bitcoin and CryptocurrenciesLiquidity Spirals, Gateway Risk (Fiat-Crypto Bridging), Counterparty Concentration
Central Bank Digital Currency and the Future of Monetary PolicyCounterparty Concentration, Information Asymmetry and Opacity, Regulatory Contagion
Blockchain for AI: Review and Open Research ChallengesGateway Risk (Fiat-Crypto Bridging), Governance Failure
Safeguarding human health in the Anthropocene epoch: report of The Rockefeller Foundation–Composability Risk, Validator/Miner Concentration
Sex, Drugs, and Bitcoin: How Much Illegal Activity Is Financed through Cryptocurrencies?Counterparty Concentration, Regulatory Contagion
The i-frame and the s-frame: How focusing on individual-level solutions has led behavioralInformation Asymmetry and Opacity, Network Contagion
Initial Coin Offerings: Financing Growth with Cryptocurrency Token SalesInformation Asymmetry and Opacity, Regulatory Contagion
Power Laws in Economics: An IntroductionLiquidation Cascades, Network Contagion