Everstrike
In the summer of 2016, Bitmex introduced the first perpetual future. An instrument that would radically transform the way crypto was traded, shifting the majority of the trading volume from spot to futures, and making vanilla futures seem almost redundant.
We believe that a similar innovation is about to take place in 2023 and 2024. This time around, it will be in the options space. Everlasting options will gradually replace their vanilla counterparts, and drive trading volume from futures towards options.
Why? Because derivatives with expiries don't tend to work well when liquidity is as fragmented as it is in crypto. The crypto futures market was simply too small to have dozens of different futures expiries - just like the current crypto options market is too small to have dozens of different expiries and strikes.
