J.-Y. Li

Lizhang Chen, Jonathan Li, Qiang Liu

The pursuit of faster optimization algorithms remains an active and important research direction in deep learning. Recently, the Muon optimizer [JJB+24] has demonstrated promising empirical performance, but its theoretical foundation remains less understood. In this paper, we bridge this gap and provide a theoretical analysis of Muon by placing it within the Lion-$\mathcal{K}$ family of optimizers [CLLL24]. Specifically, we show that Muon corresponds to Lion-$\mathcal{K}$ when equipped with the nuclear norm, and we leverage the theoretical results of Lion-$\mathcal{K}$ to establish that Muon (with decoupled weight decay) implicitly solves an optimization problem that enforces a constraint on the spectral norm of weight matrices. This perspective not only demystifies the implicit regularization effects of Muon but also leads to natural generalizations through varying the choice of convex map $\mathcal{K}$, allowing for the exploration of a broader class of implicitly regularized and constrained optimization algorithms.

Dmitry Yaremus, Jianghai Li, Alisa Kalacheva et al.

This paper presents a machine learning framework for the early detection of rug pull scams on decentralized exchanges (DEXs) within The Open Network (TON) blockchain. TON's unique architecture, characterized by asynchronous execution and a massive web2 user base from Telegram, presents a novel and critical environment for fraud analysis. We conduct a comprehensive study on the two largest TON DEXs, Ston.Fi and DeDust, fusing data from both platforms to train our models. A key contribution is the implementation and comparative analysis of two distinct rug pull definitions--TVL-based (a catastrophic liquidity withdrawal) and idle-based (a sudden cessation of all trading activity)--within a single, unified study. We demonstrate that Gradient Boosting models can effectively identify rug pulls within the first five minutes of trading, with the TVL-based method achieving superior AUC (up to 0.891) while the idle-based method excels at recall. Our analysis reveals that while feature sets are consistent across exchanges, their underlying distributions differ significantly, challenging straightforward data fusion and highlighting the need for robust, platform-aware models. This work provides a crucial early-warning mechanism for investors and enhances the security infrastructure of the rapidly growing TON DeFi ecosystem.