When someone buys a call option on the NYSE, nobody liquidates them halfway through.
The max loss is the premium they paid.
Price can go wherever it wants between purchase and expiry, and the position stays open. This has been the standard for decades in traditional finance.
DeFi rebuilt leverage from scratch and is one of the most interesting use cases for crypto.
But what if?
The thing about perps is that, perpetual positions with variable funding, constant margin monitoring, and liquidation engines running 24/7. All because the standard design doesn't hold enough collateral to cover the worst case, so it needs the ability to force-close positions at any time. (remember auto-deleveraging?)
We did something cool, removed liquidation from the equation.
Pay a premium, hold a position for a fixed duration, max loss is known at entry.
The position can't be terminated early because the capital covering every outcome is already locked in the contract. It's how options have always worked, applied to leverage that feels like perps.
Perps are here to stay, and timelock brings no liquidation perps for traders.
Remember - a trade a day keeps the poverty away.