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Binance Launches Two Crypto Futures Platforms for User Testing
Cryptocurrency exchange Binance has launched two test platforms for its crypto futures products.
Updated Sep 13, 2021, 11:24 a.m. Published Sep 2, 2019, 12:10 p.m.
Cryptocurrency exchange Binance has launched not one, but two test platforms for its planned crypto futures products.
Dubbed Futures A and Futures B, the new testnets are now open for users to play with using dummy assets, with new competitions to encourage traders to get involved.
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On Monday, Binance announced on its website that users will be able to vote for their favorite futures testnet.
As for the competitions, Binance said it will award prizes totaling 10,000 – worth around $215,700 at press time – for each platform.
In early July, Binance founder and CEO Changpeng “CZ” Zhao revealed that crypto futures were on the way, showcasing a trading interface with features including longs and shorts on crypto assets.
The exchange also launched crypto loans on Aug. 28 in a bid to attract user deposits.
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Initially, users will be able to lend their U.S. dollar-pegged USDT, and Binance’s BNB cryptocurrency in order to earn interest, payable from Aug. 29 to Sept. 11. Annualized interest rate for the initial lending products with a 14-day fixed maturity term, has been set at 15 percent, 10 percent and seven percent, for BNB, USDT, and ETC, respectively.
Changpeng Zhao image via Shutterstock
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