Five years ago, a new product was announced in a short post on the BitMEX Blog. Though no one knew it at the time, this product would come to change crypto - and finance in general - forever.
All great innovations solve a problem. For crypto traders, this was that the futures markets were inherently limiting - in a 24/7 market, we were relying on outmoded traditional futures products with expiration dates and limited ability to trade with leverage.
That might do for traditional finance, but in crypto, we dream bigger. In a market that never stops, why should a crypto futures product need to expire?
The result was the first-ever XBTUSD perpetual swap - a futures contract that never expires, mimics a margin-based spot market, and requires lower margin, unlocking opportunities for leverage - up to 100x, which broke new ground.
On its 5th anniversary, we take a look back at the birth of the most traded cryptocurrency derivatives product of all time. Read more here: https://bit.ly/33Igowk
