The three inventions brought to the world by the cryptocurrency circle, Pioneering the invention of blockchain, the first BTC Invented a stablecoin based on blockchain technology Invented perpetual contracts based on stablecoins These three inventions are interrelated, Economist Robert Shiller first proposed the concept of "perpetual futures" in 1992, aiming to provide hedging tools for illiquid assets such as real estate, but it was not adopted by mainstream financial products The first time it was put into practice was when an old Bitcoin exchange, ICBIT, launched Bitcoin perpetual contracts in 2011. However, at that time, Bitcoin's market value was too small and liquidity was insufficient, which cooled down Afterwards, in 2013, the 796 exchange sparked the popularity of weekly/quarterly delivery contracts, but perpetual contracts were still not generated until the end of 2016 But the user base for contract trading has matured due to 796 Until BitMax launched perpetual contracts in 2016, followed by Okex, a large number of domestic players were basically exposed to the Pandora's Box of contracts to some extent After being expelled from domestic exchanges in 2017, stablecoins based on blockchain were widely popularized, At the same time, the three major competitions of the exchange currency Anok Huobi also focus on the contract market competition based on the most profit-making stable currency usdt, and the perpetual contract is completely popular in the entire currency circle