Wintermute创始人:加密行业真正问题不是永续合约的设计,而是集做市、CLOB和托管于一身的CEX

Blockbeats
Nov 18, 2025

BlockBeats 消息,11 月 18 日,DeFiance Capital 创始人 Arthur 发文表示,加密衍生品(主要是永续合约)的产品设计及其相关市场结构,仍然是行业在可持续发展到下一个阶段前必须解决的最大问题。行业不能再一次又一次经历如此规模的财富毁灭事件,却还假装一切正常而不去修复结构性问题。不过,也有希望通过借鉴历史经验,构建更好的产品。

Wintermute 创始人 Evgeny Gaevoy 就此回复表示,传统金融早就解决了这些问题,真正的问题不是永续合约的设计,而是那些集做市、集中限价簿(CLOB)和托管于一身的中心化(以及准中心化)交易平台。

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