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The Genesis of a Revolution: How a Hong Kong Hike Paved the Way for a Crypto Trading Breakthrough
The concept of the perpetual swap, also known as a perpetual future or 'perp,' was conceived in 2015 on a hiking trail in Hong Kong. Ben Delo, BitMEX co-founder and mathematician, was discussing a problem with his friend Bavik, a derivatives trader. BitMEX had been experimenting with various futures contracts, but customers were consistently complaining about their positions being closed without …
July 29, 2026, 1:53 p.m.
Finance
The Crypto Trading Revolution: How a Hong Kong Hike Changed Everything
In 2015, a hike in Hong Kong's countryside led to the creation of the perpetual swap, a groundbreaking financial instrument that would go on to revolutionize the world of crypto trading. Ben Delo, a mathematician and BitMEX co-founder, was on that hike, discussing a problem that had been plaguing him for months with his friend Bavik, a derivatives trader. BitMEX had been experimenting with variou…
July 29, 2026, 1:53 p.m.
Finance
The Genesis of a Revolutionary Trading Concept: How a Hong Kong Hike Changed the Face of Crypto Trading
The concept of the perpetual swap, also known as a perpetual future or 'perp', was conceived in 2015 on a hiking trail in Hong Kong. Ben Delo, BitMEX co-founder and mathematician, was discussing a persistent problem with a friend, Bavik, a derivatives trader. BitMEX had experimented with various futures contracts, but customers complained about positions closing without warning, seeking a product…
July 29, 2026, 1:53 p.m.
Finance
How a Chance Encounter on a Hong Kong Hike Revolutionized Crypto Trading
In 2015, a hike in Hong Kong's countryside led to the creation of the perpetual swap, a groundbreaking financial product that would change the face of crypto trading forever. Ben Delo, BitMEX co-founder and mathematician, was on this hike with friend and derivatives trader Bavik, grappling with a persistent issue that had been plaguing him for months. BitMEX had experimented with various futures …
July 29, 2026, 1:53 p.m.
Finance
How a Hong Kong Hike Paved the Way for a Revolutionary Crypto Trading Product
In 2015, a chance conversation on a Hong Kong hiking trail sparked the idea for a game-changing financial product. Ben Delo, co-founder of BitMEX, was discussing the challenges of creating a futures contract that met the needs of his customers. They wanted a product that combined the benefits of spot trading with the leverage of derivatives, but without the frustration of frequent expirations. De…
July 29, 2026, 1:53 p.m.
Finance
The transformative power of a Hong Kong hike on the world of cryptocurrency trading
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July 29, 2026, 1:53 p.m.
Finance
The Genesis of a Crypto Revolution: How a Hong Kong Hike Changed Trading Forever
In 2015, a hike in Hong Kong marked the birth of the perpetual swap, a concept that would transform the crypto derivatives market. Ben Delo, BitMEX co-founder, was brainstorming with a friend, Bavik, a derivatives trader, when he posed a question: what if a future never expired? The answer led to the development of a groundbreaking financial product. Initially, customers struggled with traditiona…
July 29, 2026, 1:53 p.m.
Finance
The Genesis of a Revolutionary Trading Concept: How a Hong Kong Hike Changed Crypto Forever
In 2015, a hike in Hong Kong's countryside gave birth to the concept of the perpetual swap, also known as a perpetual future or 'perp.' Ben Delo, BitMEX's co-founder and a mathematician, was on a hike with Bavik, a derivatives trader, grappling with a problem that had plagued him for months. BitMEX had experimented with various futures contracts - quarterly, monthly, weekly, 48-hour, and even 24-…
July 29, 2026, 1:53 p.m.
Finance
The Genesis of a Revolutionary Trading Concept: How a Hong Kong Hike Changed Crypto Forever
The idea for the perpetual swap, also known as a perpetual future or 'perp', was conceived in 2015 on a hiking trail in Hong Kong. Ben Delo, BitMEX co-founder and mathematician, was discussing a nagging issue with a friend, Bavik, a derivatives trader. BitMEX had experimented with various futures contracts, but customers kept complaining about positions closing unexpectedly. They wanted a product…
July 29, 2026, 1:53 p.m.
Finance
The Genesis of a Revolutionary Trading Concept: How a Hong Kong Hike Changed the Course of Crypto History
The idea for the perpetual swap was born out of frustration with traditional futures contracts, which were not meeting the needs of BitMEX's customers. Delo and his team had tried various contract durations, but none seemed to work. The breakthrough came when Delo asked, 'What if a future never expired?' The answer, provided by his hiking companion, was to charge traders an overnight rate, simila…
July 29, 2026, 1:53 p.m.