id	author	title	date	pages	extension	mime	words	sentences	flesch	summary	cache	txt
en-wikipedia-org-8593		Perpetual futures - Wikipedia			.html	text/html	1731	209	57	Perpetual futures were first proposed by economist Robert Shiller in 1992, to enable derivatives markets for illiquid assets.[1] However, perpetual futures markets have only developed for cryptocurrencies, following their introduction in 2016 by BitMEX.[2][3] Cryptocurrency perpetuals are characterised by the availability of high leverage, sometimes over 100 times the margin, and by the use of auto-deleveraging, which compels high-leverage, profitable traders to forfeit a portion of their profits to cover the losses of the other side during periods of high market volatility, as well as insurance funds, pools of assets intended to prevent the need for auto-deleveraging. The first significant uses of perpetual futures came in the form of cryptocurrency contracts, first offered by BitMEX in May 2016, that became popular amongst traders by permitting highly-leveraged trading at different time-horizions in a liquid market without inordinate counterparty risk in the absence of regulated intermediaries.	./cache/en-wikipedia-org-8593.html	./txt/en-wikipedia-org-8593.txt