When compared to other decentralized derivative systems such as Perpetual Protocol and DYDX, Qilin stands out for its innovations, while staying true to the ethos of decentralization. Its liquidity design is peer-to-pool, rather than a virtual automated market maker (vAMM) or even a centralized order book, while the liquidity providers are token holders not approved market makers. Its perpetual offering is settled in both stablecoins and tokens, rather than only being stablecoin settled. This means that its market scalability is theoretically infinite, as opposed to being controlled by either the market makers or by the team.
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