Contributor
Every few cycles, a crypto-native idea slips its leash and rewires a slice of the real world. Digital gold did it. Stablecoins did it. Monk and Ryan Watkins are betting perpetual derivatives are next, and that decentralized exchanges like Hyperliquid are the ones built to carry them there. Retail traders drowning in options theta decay and opaque CFD spreads don't need a fancier derivative, they need a simpler one: no expiries, no strikes, just leverage that does exactly what it says on the tin. The math is the hook: even a sliver of the $8 trillion sloshing through daily options, futures, and CFD volume flipping onchain is worth hundreds of billions in market cap. They've got a name for it already: the great perpification.
