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Wintermute Founder: The real issue in the encryption industry is not the design of Perptual Futures, but rather the CEX that integrates market making, CLOB, and accomplice.
On November 18, Arthur, the founder of DeFiance Capital, stated that the product design of crypto derivation (mainly Perptual Futures) and its related market structure are still the biggest issues that the industry must address before sustainable development can proceed to the next stage. The industry can no longer experience such large-scale wealth destruction events over and over again while pretending that everything is normal without fixing structural problems. However, there is hope to build better products by drawing on historical experience. Evgeny Gaevoy, the founder of Wintermute, responded by stating that TradFi has long solved these issues; the real problem is not the design of Perptual Futures, but the centralized (and quasi-centralized) trading platforms that combine market making, Central Limit Order Book (CLOB), and custody.