#山寨季何时到来？

When the big bull market erupts, there will definitely be a large-scale liquidation of retail investors' long contracts. The contract burden is too heavy, and the market cannot rise.

Retail investors are always in a disadvantaged position. Whether it is in terms of capital, information, understanding, behavior, or means, retail investors are at the very bottom of the industry.

Regarding the automatic reduction and liquidation of positions by exchanges, this will only occur in a profitable state; in a loss state, automatic reduction and liquidation never happen, which is inherently unfair.

According to normal logic, if a profitable position is automatically reduced or liquidated, a corresponding losing position should also be automatically reduced or liquidated. However, in reality, such phenomena do not occur at all; the phenomenon of automatic reduction and liquidation only appears in losing positions.

There should be a public blockchain specifically for matching contracts on-chain, which can connect with all contract counterparties globally, rather than being limited to counterparties of the exchange, creating an isolated island of contract trading.

Regardless of which exchange conducts contracts, it should be implemented on-chain, not off-chain.

As the most influential benchmark globally, Binance should deeply research on-chain scenarios for contracts.