From Taylor's olive options to Jasper Vault's zero liquidation perpetual Over two thousand years ago, the ancient Greek philosopher Thales made a strange transaction. By observing the weather, the stars and the growth of the olive tree, he judged that the olives of the next year would be Dafengshou (Salad of assorted fresh vegetables). So he found a local olive oil mill and bought the priority to use the oil press next year. Later, as expected, there was a bountiful harvest of olives, and the oil press was crazily robbed. Thales made a large sum of money from this transaction. This matter embodies the most important spirit of options: first, purchase a future option with a limited cost; Correct judgment leads to gains; Error in judgment, the loss is limited to the initial cost paid. Stock explosion is the cruelest outcome of perpetual contracts Perpetual contracts have no expiration date, allowing for flexible long and short positions. Coupled with the capital efficiency brought by leverage, they have become one of the most active trading tools in the cryptocurrency market. But it has never solved a problem: traders may focus on the long-term direction but cannot survive short-term fluctuations. After opening the position, the price suddenly reversed and the margin rate continued to decline. Traders can only choose to proactively cut losses, add margin, or continue to bear the risk of liquidation. The forced liquidation mechanism does not care whether the trader ultimately sees it right, it only cares about whether the current margin is sufficient and whether the price has touched the liquidation line. The market will not return positions that have already been liquidated to traders just because the price rebounds later. Jasper Vault adds a layer of protection to sustainability Jasper Vault's core product Perpetual Protect, abbreviated as PP, attempts to change this. According to the positioning of the product side, PP hopes to add a layer of protection to perpetual positions, so that traders no longer have only two options: "stop loss and exit" and "wait for liquidation" when facing severe adverse fluctuations. The traditional logic of stop loss is to end the trade after the loss reaches a certain level; PP hopes to activate protection when the risk reaches specific conditions and preserve the opportunity for the position to continue to exist as much as possible. Therefore, Jasper Vault summarizes it as "zero liquidation perpetual", "100% immune liquidation", and "stop loss without leaving". It should be made clear that "zero liquidation" does not mean "zero loss", nor does it mean that the platform will bear all the wrong judgments for users. The truly noteworthy aspect of it is embedding option based protection into perpetual contracts, making liquidation no longer the only risk endpoint for positions. The transition from options to perpetuity is not accidental: Jasper Vault was launched in 2024 and initially launched products such as Degen Minimalist Options, 0DTE Apocalypse Options, and BitStone. The early cumulative transaction volume of the project was approximately 1.898 billion US dollars, with a total of approximately 100000 users. These experiences demonstrate that PP is not a new concept completely detached from existing experience, but rather an extension of Jasper Vault on the basis of option products. The usage rate during the PP testing phase is approximately 30% to 50%; After going online, the daily active traders increased by about 3 times, and the trading volume increased by about 5 times. Many users are not without leverage, but rather unwilling to let the fate of their entire position depend on a short-term injection. The cryptocurrency market never lacks people willing to bet, what it lacks is a product structure that allows risks to be calculated, dispersed, and managed. If users must accept the rule of "loss if they make a wrong judgment, and liquidation if they experience short-term fluctuations" every time they participate in perpetual trading, then the market boundary of perpetual contracts will be firmly limited by high-risk attributes. If a product can allow users to purchase protection at a clear cost and prevent positions from easily ending due to ordinary fluctuations, then it may have the opportunity to attract more risk sensitive users. This is the true imaginative space of Jasper Vault. It is not simply increasing leverage, but attempting to keep traders in the market for a longer period of time. @jaspervaultzh Experience it https://app. (jaspervault.io)/ /referral? referral_code=NKNKMD