The 'blood' of the cryptocurrency industry is contracts: Without high leverage, high-frequency trading, and strong incentives, platform stickiness, retail investor enthusiasm, and topicality will be greatly reduced. Why can't the cryptocurrency industry do without contracts? Strong gambling tendency, stimulating user emotions and traffic; Low threshold (leverage can be applied within 1U), fast monetization, and satisfying the psychological needs of gamblers; The transaction fees and profits of the trading platform mainly come from contracts, with high contract trading rates and controllable liquidation and slippage points; 关键意见领袖 Group culture revolves around contracts (such as ordering, community, live streaming, etc.); During the major market cycle, contracts drove prices to skyrocket and plummet. If the cryptocurrency circle cancels all contract products, it is conservatively estimated that 50% -70% of active users will be lost, The remaining majority are on chain users, coin holders, developers, researchers, etc., but platform activity will sharply decline, even falling into a low tide.