BitMEX co-founder Ben Delo's invention of the perpetual futures contract has transformed the crypto derivatives market. Created in 2015, this financial instrument allows for continuous trading without expiration, offering traders uninterrupted exposure to Bitcoin's price. The perpetual contract's funding rate mechanism, which adjusts based on market conditions, has become a key tool for pricing liquidity in the crypto market. Despite its success, BitMEX faced legal challenges due to regulatory non-compliance, leading to charges against its founders. However, the perpetual futures contract remains a cornerstone of crypto trading, influencing the evolution of financial systems by providing a dynamic, market-driven benchmark rate. This innovation has not only reshaped crypto trading but also highlighted the potential for new financial architectures beyond traditional systems.