#永续合约交易# Reviewing the development history of the entire Crypto Assets derivation market, Perptual Futures trading can be considered an important milestone. From the earliest BitMEX introducing this innovative product, to Synthetix now announcing the launch of a Perptual Futures DEX on the Ethereum Mainnet, it is evident that this field is continuously evolving.

In the past few years, centralized exchanges such as Binance and OKEx have launched Perptual Futures products, attracting a large trading volume. However, the development of decentralized Perptual Futures platforms has been relatively slow, mainly limited by technical bottlenecks and insufficient liquidity.

Synthetix is hosting a million-dollar trading competition to attract excellent traders to provide liquidity for the platform, and this approach is worth noting. Looking back to 2017 when BitMEX launched Perptual Futures, a similar strategy was employed to cultivate its early user base.

However, based on historical experience, while Perptual Futures trading can bring considerable fee income to the platform, it also carries higher risks. During the "3·12" crash in 2020, many Perptual Futures platforms suffered severe blows due to system instability. Therefore, it is very necessary for Synthetix to conduct stress tests before its official launch.

Overall, the Perptual Futures DEX represents the combination of DeFi and traditional derivation trading, with immense potential. However, its success still needs to be tested over time. We look forward to Synthetix learning from historical lessons and bringing positive impacts to the industry.