Binance has introduced not one, but two test platforms for its scheduled crypto-futures product. Two crypto futures platforms launched for user testing by Binance.
New test networks are now available to customers to use dummy assets and fresh contests. This is to encourage traders to get involved.
The fresh testnets, dubbed Futures A and Futures B, are now available to consumers to play on, using dummy assets, with fresh contests to encourage traders to get engaged.
Binance stated on its website on Monday that users can vote for their favorite testnet futures.
The company said it would offer awards totaling 10,000 Binance coins (BNB) for each platform competition. This is worth about $215,700 at press time.
Changpeng “CZ” Zhao, Binance founder and CEO revealed in early July, that crypto futures were on the way. At the time he showcased a trading interface with features including longs and shorts on crypto assets.
In a bid to attract customer deposits, the exchange also introduced crypto loans on Aug. 28.
Two crypto futures platforms launched for user testing by Binance. Users will initially be able to offer their U.S. dollar-sized USDT, Ethereum Classic (ETC) and Binance’s BNB cryptocurrency to earn interest payable from August 29 to Sept. 11.
Annualized interest rates were set at 15%, 10% and 7% for BNB, USDT, and ETC respectively for the original lending product, with a fixed maturity period of 14 days.