Permissionless Perpetuals

Definition ∞ Permissionless perpetuals are decentralized derivative contracts that allow users to trade with leverage on digital assets without needing authorization from a central authority. These contracts operate on blockchain protocols, offering continuous trading opportunities without expiry dates. They provide open access to financial instruments, removing traditional intermediaries and associated restrictions. This structure supports censorship resistance and global accessibility.
Context ∞ The emergence of permissionless perpetuals represents a significant innovation within the decentralized finance sector, frequently discussed in crypto news. These instruments attract traders seeking high leverage and continuous exposure to digital asset price movements. However, they also present substantial risks due to their complex mechanics and potential for rapid liquidations.