Antonina Norair

Analyzing protocols,
deconstructing systems.

Thoughts on DeFi & TradFi engineering, distributed systems, and market structures. Welcome to my digital timed garden 🌿

PYUSDx Beyond the Launch: The Technical Design of the PYUSD Developer Platform

Inside the architecture of the first white-label stablecoin platform from M0, PayPal, and MoonPay — the PYUSDx base token and its per-earner reward accounting, MultiMint extensions and the Swap Facility, the solver-driven liquidity layer, and versioned beacon upgrades.

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Twenty Stablecoins: A Year of M0 Extensions

A newspaper-style review of twelve months of stablecoin extensions built on M0 — twenty digital dollars across eighteen chains, from MetaMask's wallet dollar to MoneyGram's remittance rail. TVL analytics, per-partner reporting, and money-flow diagrams, with supply figures read live from the M0 protocol API.

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Uniswap in 2026: A Graceful Shift Toward an Institutional Future. The Story in Three Projects.

Change is the only constant, and the most adaptable survive and thrive. A review of Uniswap's shift toward an institutional future and the RWA space in three major 2026 projects — BUIDL swaps via UniswapX, the DualPool hook with Spark, and Permissioned Pools — and how they actually work.

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M0 V1

Two years in, M0 has processed over $1.1B in mints, expanded to Solana and 15+ EVM chains, and become the first white-labeled stablecoin platform. With JMI and new liquidity offerings on the horizon, going back to basics: how and why things were built the way they were.

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DeFi Primitive — Billion-Dollar Algorithm

Simple is way more than simplistic. The story of the algorithm behind staking rewards contracts everywhere — from the 2018 Scalable Reward Distribution whitepaper and SNX's Unipool to Uniswap v3 fee tracking, SushiSwap's MasterChef, and 1inch's ERC20Plugins.

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M0 Protocol Basics: Minter Rate, Global Interest Rate Index, and Key Principles

How the M0 Protocol tracks interest accrual on stablecoin issuance through two fundamental concepts: principal amounts and a global interest rate index. A shared index eliminates gas-intensive calculations across all protocol participants while maintaining precise balance tracking.

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In progress, TBD...
In progress, TBD...

Experience

Mar 2023 – Oct 2026

M0 · CTO

NYC, US
  • Co-architected the M0 V1 core protocol, its governance module, and the Stablecoin Extension framework, the first of its kind in DeFi, which scaled to 18+ EVM chains, Solana, and Stellar and powered 20+ custom stablecoins at a $900M+ TVL peak.
  • Led the architecture and technical launch of M0’s flagship stablecoin projects through its issuance and liquidity offerings, including MetaMask USD with ConsenSys, MoneyGram’s MGUSD, and the PayPal PYUSDx Developer Platform.
  • Onboarded major US stablecoin issuers, including Bridge, MoonPay, and 1Money, onto the M0 platform.
  • Scaled the engineering organization from 0 to 16 engineers across four teams (Issuance, Liquidity, Integration, M0 Internal Issuer), sustaining 90%+ annual retention in a high-turnover industry.
  • Restructured the legacy M0 Issuer team and modernized its backend while maintaining full operational continuity.
  • Coordinated up to 50 audits spanning internal and external reviews, AI-assisted analysis, audit competitions, and formal verification.
May 2024 – Present

Fission Labs · Technical Advisor

Remote
  • Partnered with the CTO of Fission Labs to define its set of onchain products and deliverables.
  • Onboarded external engineering contractors and ran AI-assisted reviews of their code.
Sep 2022 – Mar 2023

MoonPay · Senior Blockchain Engineer

Remote

Co-developed the backend for MoonPay’s self-custodial wallet powering its NFT marketplace.

Apr 2020 – Aug 2022

Compound Labs · Senior Blockchain Engineer

San Francisco, US
  • Co-designed and engineered Compound V3 (Comet), a lending protocol that reached $2.5B in peak TVL.
  • Contributed to Compound V2’s Open Price Feed and the COMP governance token launch that kicked off DeFi Summer 2020.
  • Created Compound Autonomous Proposals (CAPs), a governance mechanism adopted by Compound and later by Uniswap to further decentralize protocol governance.
Jan 2018 – Mar 2020

ConsenSys · Senior Blockchain Engineer

San Francisco, US
  • Developed an Ethereum proof-of-concept with the Radiant Earth Foundation (on Kaleido and AWS) that tracks satellite-imagery licensing and payments on-chain, so NGOs can get geospatial data faster in disasters.
  • Contributed to an early real-world asset (RWA) tokenization platform.
  • Shipped CodeFi products, including CodeFi Activate and CodeFi Payments.
Jul 2017 – Jan 2018

Bosonic · Blockchain Engineer

San Francisco, US

Implemented BTC-to-ETH atomic swaps for the Bosonic Network, a cross-custodian settlement platform for real-time netting, clearing, and atomic payment-versus-payment settlement that removes counterparty credit and settlement risk.

Jan 2016 – Mar 2017

Sourcegraph / Tristero Consulting · Senior Backend Engineer

Kyiv, Ukraine

Implemented core components of Sourcegraph’s code analysis engine, which powered cross-repository go-to-definition, find-references, and semantic code navigation.

Jul 2013 – Jan 2016

UniqueSoft / ISS Ukraine · R&D Team Leader

Kyiv, Ukraine

Delivered the first implementation of COBOL modernization software for major US logistics and financial infrastructure providers. Formed and led a team of up to 6 engineers.

Apr 2012 – Jul 2013

GlobalLogic · Backend Engineer

Kyiv, Ukraine

Contributed to telecom and banking projects after completing a software architecture and system design training program.

Jan 2010 – Apr 2012

UniqueSoft / ISS Ukraine · Backend Compiler Engineer (Part-time)

Kyiv, Ukraine

First job, combined with university studies. Programmed compilers in functional languages such as Lisp and Haskell.

Education

Jun 2025 – Present

Harvard Extension School

Master’s degree (ALM), Finance (in progress)
2007 – 2013

National Technical University of Ukraine ‘Kyiv Polytechnic Institute’

Master’s degree, Applied Mathematics & Computer Science. Diploma with honors
2005 – 2007

Polytechnic Lyceum of NTUU ‘KPI’

Specialized mathematics and physics program. Graduated with a silver medal for academic excellence

Speaking

Nov 2025

Princeton DeCenter

Princeton Center for the Decentralization of Power Through Blockchain Technology

Designing the M0 Core: A Modular Stablecoin Platform for Builders

About

Hi, my name is An-toni-na and I'm from Kyiv, Ukraine ♥♥. I've spent the last eight years in the US, splitting time between SF and NYC. I love both, but undeniably, I vibe better with the latter.

After moving to the US, I got into blockchain engineering and later found myself in DeFi — finally loving what I do and connecting the dots of my past: a math & physics lyceum, an applied math master's, and systems programming at an undisclosed R&D lab.

When I'm not working or chasing kids around (which is almost never), I like to get out and explore the countless beautiful places in and around NYC.