When buying insurance for a contract, the key is whether the insurance is "pasted on" or "grown into the contract."

Perpetual protection at other exchanges = ordinary contract + traditional option plug-in
Insurance is added later, and the contract will still be liquidated if it should ❌
Jasper Vault's 0-liquidation perpetual = deep integration of perpetual contract × intraday rolling options
Protection is directly built into the mechanism, positions will never be liquidated ✅
Spend a small amount of money to buy a "built-in insurance": ✅