Challenges in Crypto Derivatives Design Highlighted by Industry Leaders

According to BlockBeats, Arthur, the founder of DeFiance Capital, emphasized that the design of crypto derivatives, particularly perpetual contracts, and their market structure remain significant challenges that the industry must address before achieving sustainable growth. He noted that the industry cannot continue to experience large-scale financial losses without addressing these structural issues. However, there is optimism that by learning from historical experiences, better products can be developed. In response, Evgeny Gaevoy, founder of Wintermute, stated that traditional finance has already resolved these issues. He argued that the real problem lies not in the design of perpetual contracts but in centralized and quasi-centralized trading platforms that combine market-making, centralized limit order books, and custody services.