Contract for Delivery: Eliminating T+1 settlement and margin segregation If traditional futures trading is like a heavy truck driving on the highway, then cryptocurrency contracts for delivery are like an off-road motorcycle racing in uninhabited areas. The truck is equipped with a complex braking system, mandatory insurance, and strict traffic regulations to ensure the safe arrival of goods; while the motorcycle pursues ultimate speed, removing all protective devices. On the surface, the motorcycle seems faster and freer, but when faced with an unexpected situation, one suddenly realizes that those usually unseen brake pads—namely the T+1 settlement and margin segregation system in traditional finance—are the fundamental guarantees of safety. The double insurance of traditional finance: T+1 settlement and margin segregation. Margin segregation: The customer's money is always the customer's. T+1 settlement: Futures bought today can only be sold tomorrow to prevent excessive speculation. In the world of cryptocurrencies, all of these have been optimized away. The collapse of FTX is the best example—where the whereabouts of user funds became a mystery, making accountability impossible. What is the true cost of convenience in payments for you?