Introduction
In the rapidly evolving cryptocurrency market, innovative projects continue to emerge, constantly pushing the boundaries of blockchain technology applications. TERMINUS and Epic Chain (EPIC) are two projects that have recently garnered significant market attention, each demonstrating a unique vision in the areas of payments, Web3 ecosystem development, and the tokenization of real-world assets (RWAs).At the same time, perpetual contracts—as a mainstream product in the crypto derivatives market—provide investors with flexible trading tools. This article will conduct an in-depth analysis of the TERMINUS and EPIC projects and offer a detailed explanation of the core mechanisms of perpetual contracts and their significant role in the crypto market.
TERMINUS Project Overview
Positioning and Vision
TERMINUS is a cryptocurrency project launched in 2024, positioned primarily as an innovative payment association and PayFi solution. It aims to achieve a seamless connection between cryptocurrency and real-world transactions by leveraging existing QR code technology, allowing merchants to accept cryptocurrency payments in the form of fiat currency.TERMINUS also functions as a decentralized exchange (DEX), dedicated to integrating blockchain technology into various sectors—including e-commerce, social media, and gaming—to drive Web3 innovation.The project is already operational in Southeast Asia (such as Vietnam and Thailand) and supports major tokens including USDT, USDC, ETH, SOL, TON, and BNB, while being compatible with multiple mainstream blockchain networks such as Solana, Ethereum, Tron, and BSC.TERMINUS also possesses certain “meme coin” characteristics, drawing inspiration from Elon Musk’s tweet stating that the first city on Mars would be named “Terminus.”
Technology and Ecosystem Development
TERMINUS is actively expanding its ecosystem through strategic partnerships. In April 2025, TERMINUS partnered with JOIN, a token project within the Solana ecosystem, with the aim of jointly integrating blockchain technology into e-commerce, social media, and gaming.Subsequently, in July 2025, TERMINUS partnered with WizoLayer to bridge the gap between decentralized finance (DeFi) and real-world payment systems, further enhancing the practicality of its PayFi solution.
Market Performance and Trading Channels
As of the time of publication in July 2026, the price of TERMINUS was approximately $0.007010, with a 24-hour trading volume of approximately $90,436.05. Its market capitalization was approximately $677,200.Public records indicate that TERMINUS has a total supply of 100,000,000 tokens. There are conflicting data points regarding the circulating supply and all-time high price; for example, some data showed the circulating supply as 420,690,000,000 tokens (as of September 2024),and the all-time high was recorded as either $0.4319 or $0.00002529 (October 16, 2024). These figures vary significantly and are provided for reference only; the latest figures may have changed.TERMINUS can be traded on cryptocurrency exchanges such as CoinEx, AscendEX, LBank, BitMart, and MEXC. It supports storage and management via non-custodial Web3 wallets such as MetaMask and Trust Wallet, as well as custodial payment services such as Binance Pay and Gate Pay.
EPIC Perpetual Contract Overview
Epic Chain’s Positioning and Vision
EPIC refers to Epic Chain, a next-generation Layer 2 blockchain focused on combining real-world assets (RWAs) and the entertainment sector with the high efficiency of the XRP Ledger.Epic Chain aims to build a global RWA infrastructure that connects institutions and consumers across all major asset classes, from consumer goods to capital markets. The project is backed by Ripple, and its vision is to unlock the immense market potential of RWA by bringing trillion-dollar real-world assets—such as real estate, credit, commodities, and intellectual property—onto the blockchain.
Technical Roadmap and Ecosystem
EPIC was initially launched as an ERC-20 token on theEthereum, but its strategic plan is to integrate into an EVM-compatible sidechain on the XRP Ledger.This migration is scheduled for August 17, 2025, and aims to leverage the XRP Ledger’s fast settlement speeds and low transaction fees while maintaining compatibility with the Ethereum Virtual Machine (EVM), providing developers with a familiar development environment.Epic Chain’s ecosystem includes Fanable, an on-chain collectibles marketplace that has generated over $1.2 million in annual fee revenue; and the “Epic One” Visa card, which offers cryptocurrency cashback and supports spending in more than 180 countries worldwide, further integrating cryptocurrency with everyday payments.
EPIC Perpetual Contracts
EPIC perpetual contracts are blockchain-based financial derivative contracts that allow investors to speculate on or hedge against price fluctuations of the EPIC token without actually holding the token.Unlike traditional fixed-term contracts, perpetual contracts have no fixed expiration date, allowing investors to hold positions indefinitely. This design provides traders with great flexibility and eliminates the hassle of contract rollovers or physical settlement upon expiration.
Market Performance and Trading Channels
As of August 2025, Epic Chain’s fully diluted valuation (FDV) was approximately $60 million.EPIC perpetual futures can be traded on platforms such as Binance Futures, MEXC, and VOOI Ultra. For example, on Binance Futures, the EPIC/USDT perpetual contract supports a leverage range of 1x to 20x, offering traders the opportunity to amplify potential returns, though this also comes with higher risks.
Analysis of Perpetual Contract Mechanisms
Definition and Characteristics of Perpetual Contracts
Perpetual contracts are one of the most popular financial derivatives in the cryptocurrency market, allowing traders to speculate on cryptocurrency prices without an expiration date. This means traders can hold their long or short positions indefinitely without worrying about the delivery date associated with traditional futures contracts.This innovation was first introduced to the crypto market by BitMEX in 2016 and has since rapidly become the dominant product in the crypto derivatives market.
Core Mechanism: Funding Rate
The core mechanism of perpetual contracts is the “funding rate,” which is designed to anchor the contract price near the spot price of the underlying asset.The funding rate is a fee paid or received periodically (typically every 8 hours) between long and short position holders. When the perpetual contract price is higher than the spot price, the funding rate is positive, and long position holders must pay a fee to short position holders;conversely, when the contract price is below the spot price, the funding rate is negative, and long position holders must pay fees to short position holders. Through this mechanism, market forces drive the contract price back toward the spot price.
Advantages and Risks
The advantages of perpetual contracts lie in their convenience, flexibility, and high-leverage options. They offer 24/7 trading, allowing investors to trade at any time; high leverage can amplify potential returns while also providing opportunities for short selling and arbitrage, thereby increasing market participation. However, high leverage also significantly increases the potential for losses and the risk of liquidation.During periods of high market volatility, if margin requirements are not met, a trader’s position may be forcibly liquidated, resulting in the loss of principal.
Market Development and Regulatory Landscape
Perpetual contracts dominate the crypto derivatives market, accounting for over 90% of all crypto derivatives trading volume. Nevertheless, the market landscape continues to evolve.Data shows that between 2025 and 2026, the average monthly trading volume on centralized perpetual futures exchanges (Perp CEXes) declined, while that on decentralized perpetual futures exchanges (Perp DEXes) increased during the same period, indicating rising market demand for decentralized solutions.For example, the share of open interest (OI) held by Perp DEXes grew rapidly in 2025, reaching 13.5%, led by platforms such as Hyperliquid. From a regulatory perspective, perpetual contracts are widely popular globally but face strict scrutiny in jurisdictions such as the United States, with the majority of trading still occurring on offshore exchanges.Although the U.S. Commodity Futures Trading Commission (CFTC) approved Kalshi’s cash-settled Bitcoin perpetual futures contracts in May 2026, the regulated perpetual futures market remains relatively small compared to the global offshore market.
Summary
As emerging forces in the crypto market, TERMINUS and Epic Chain have demonstrated innovative potential in the fields of crypto payments and the Web3 ecosystem, and the tokenization of real-world assets, respectively. TERMINUS is committed to connecting cryptocurrencies with everyday transactions through its PayFi solution, while Epic Chain, backed by Ripple, combines real-world assets (RWAs) with the efficiency of the XRP Ledger.Perpetual contracts, serving as a vital bridge connecting these projects with a broad investor base, have become an indispensable part of the crypto derivatives market due to their features such as no expiration date, funding rate mechanisms, and high leverage.However, when participating in perpetual contract trading, investors must fully understand the high risks involved—particularly the liquidation risks associated with leveraged trading—and make prudent decisions based on their own risk tolerance.
