Recently, discussions in the European and American markets about commodity and foreign exchange Perp products have been particularly lively. Traditional trading desks are entering the market one after another, bringing a lot of serious professional analysis. These discussions are quite interesting in themselves — they show that everyone is exploring how to adapt derivative trading logic to the crypto market. However, the professional details involved are indeed numerous, and the terminology is dense. To truly keep up with this wave of discussion, you need to spend time catching up. On one hand, you can use AI tools to quickly understand key concepts; on the other hand, you should also communicate more with industry veterans to hear their views on the opportunities and risks in the Perp market. The transition from traditional finance to crypto derivatives is a process worth paying attention to.