1.Hello! To begin, could you provide a brief explanation of what crypto futures are?

Therefore, in its most basic form, a futures contract is an agreement to purchase or sell a commodity, currency, or other instrument at a predetermined price at a particular point in the future. A futures market does not immediately "settle" trades like the traditional spot market does. Instead, a contract that specifies the settlement at a later date will be traded by two counterparties. Over the past four years, how have the crypto futures markets developed? The product's user experience requirements are increasing for future products. In terms of leverage multiples, pricing, and position opening, perpetual futures, for instance, have become commonplace futures products, and their functions must cater to a wider range of user requirements. However, futures traders are most concerned about liquidity, which is a crucial factor on which all trading platforms are competing. The trading scale of futures contracts has experienced explosive growth over the past three years. In comparison to the trading volume of all derivatives in 2020, the annual trading volume of perpetual futures reached $57 trillion in 2021. At the time, spots had a trading volume of $49 trillion. The volume of futures trading, which outpaced spot trading in Q2 of this year, remained stable at $1 trillion.