A year ago, I said perpetual contracts for stock tokens would be the ultimate weapon for CEX. A year later, BTC has gone sideways and turned into an old-timer asset, while perpetual contracts for stocks have finally exploded. Daily trading volume for stock perpetual contracts: $2.45B in May, $10.2B in June, $20.5B in July, and from August 1–15, it hit $22.2B in just half a month. That's about a 9x increase in four months.