Ahzam Email
The Beach at Trouville, painted by Claude Monet

Ahzam Khan

Quantitative researcher & protocol engineer at Velocity

I primarily focus on our vAMM (market maker) and contribute to core program engineering. My work covers market design and different parts of exchange economics (funding, fees, borrowing and lending) as well as protocol risk management.

Research

All research
Depositing more should not earn lessConditions on lending rate curves that keep supplier income monotone. Paper Impermanent loss in a DLMMDeriving impermanent loss across discrete liquidity bins. Paper Liquidity ranges in concentrated AMMsComparing liquidity ranges against holding, with equal starting capital. Note

Work

A little background
Velocity / Drift Labs Quantitative research & protocol engineering 2025 till now

Quantitative researcher & protocol engineer · Feb 2026 to present

Leading research and development of vAMM and contributing to the core protocol, exchange economics, and risk.

Junior quantitative trader · Jun 2025 to Jan 2026

Experimented with market making strategies, improved the Rust liquidator, and contributed to the Rust SDK.

Asgard Finance Research engineering 2024–25

Research engineer · Sep 2024 to May 2025

Researched AMM design and liquidation mechanisms, worked on data engineering, and built an onchain terminal.

Castmoney Backend engineering 2024

Backend engineer · May to Sep 2024

Built APIs and indexing infrastructure for a Farcaster social exchange, aggregating data across protocols including Uniswap.

Find Signal Full stack & AI engineering 2023

Full stack & AI engineer · Jun to Nov 2023

Contributed to Bonkai, an onchain automation platform. Built multilingual video transcription and LLM training pipelines for portfolio optimisation on Solana.

Solana Foundation fellow, 2024

Selected projects

Archive
drift-rsContributions to Drift's Rust SDK keep-rsLiquidation and order filling infrastructure quickmarkExecution and markout analysis in Rust

Outside work

I've been playing guitar for over a decade and read a lot. Lately I've been trying some fiction, which is a nice change from what I do. I love going for runs and touching some grass.

Currently readingFirst Love by Ivan Turgenev

Get in touch

I enjoy talking about DeFi and hearing what other people are working on. If you'd like to discuss some research, build something together, or think I'd be a good fit for your team, send me an email or DM me on X . Always happy to chat.