Cryptocurrency exchange Binance revealed on Monday that it has launched two Futures Testnet platforms.
The crypto exchange platform revealed that it had been working hard to develop the two futures platform dubbed Futures A and Futures B.
Binance has also set an amount of 10,000 BNB as financial incentive to users that participate in each Futures Testnet platform.
According to the report, a total of 10,000 BNB has been earmarked as rewards to users who participate in each of the Futures Testnet platforms. In addition, users that correctly vote for the winning Futures Testnet will also receive 50% discount on trading fees for a month.
Users Will Have To Participate In Testing To Be Eligible
Binance also stated the steps to receive the rewards in the post. Participants will be able to vote for their favourite futures after experiencing both Futures A and B.
The participants will be given 100,000 USDT as simulated funds on each Futures platform. To be eligible to vote, the users must have maintained a minimum of the 100,000 USDT allocated to their futures account by the end of the competition.
The overall winner will be rewarded with 5000 BNB and the other prices will be determined by different criteria.
Binance (BNB) Front Runner In Promoting Crypto Trading Instruments
Binance is not the only one launching a Futures product, Bakkt has also announced that its futures trading will go live in September.
Bakkt bitcoin Futures launch is one of the most anticipated events within the crypto community with a majority claiming that it could drive the market on an upward trajectory.
Binance has always been at the forefront of promoting cryptocurrency instruments.The crypto-exchange has done well to bounce back from the major hack it suffered in February.
Led by its charismatic CEO Changpeng Zhao, Binance is set to explore new territories with the launch of the Futures Testnets.
Zhao had earlier revealed in July that Binance is developing a Crypto Futures which has been scheduled to be released before the end of the year. This latest announcement is sure to increase the level of engagement on its platform.