The Birth of a Revolutionary Trading Concept: How a Hong Kong Hike Changed the Face of Crypto Trading

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, where Delo was discussing the challenges of traditional futures contracts with a friend and derivatives trader, Bavik. The problem they faced was that customers were consistently complaining about their positions being closed without warning, and they wanted a product that could offer the benefits of spot trading with the leverage of a derivatives exchange.