Building an Altcoin Future With Permissionless Perpetuals

Posted on by American Coins & Gold

Building an Altcoin Future With Permissionless Perpetuals
Stablecoins have a hegemonic hold over the crypto derivatives space. Most of the perpetual contracts across the CEX.IO cryptocurrency exchange [Ed note: taking CEX to mean the exchange] are priced in stablecoins, and all contracts on the FTX exchange are USD margined. Likewise, all perpetuals on decentralized finance (DeFi) derivative protocols like Perpetual Protocol and DYDX are USD linear contracts. This is the stablecoin standard in the derivatives market.But a new protocol from Qilin allows altcoins to be used in crypto derivative deals, which will rapidly expand the utility of altcoins. We believe that just as fiat money supply exploded…