Expirable futuresContango is the first non-custodial DeFi exchange to offer expirable futures (i.e. instruments with a known settlement date) via fixed-rate markets. DeFi protocols have launched many perpetual products and that leaves Contango as the market leader in the expirable space (see fig. 1). Figure 1. State of the crypto derivative space by Jump CapitalThe theoretical modelThe theoretical model behind Contango is the famous interest rate parity relationship: This well-known formula i...
