In the latest announcement, the famous cryptocurrency exchange Binance reveals the launch of two testnet platforms for its upcoming futures product.
Among these two platforms, one is recently acquired and another one is built by Binance itself. However, as per the CEO, Changpeng Zhao (aka “CZ”) who recently interacted crypto community via AMA session, said, “both of them are kind of ready”. While both products are slightly different, CZ hints these are very competitive in terms of features.
As per the latest announcement, the testnets are now available for users to execute a trade using dummy assets and participate in a competition, which aims to encourage worldwide traders to get involved. Binance will allocate 10000 USDT in simulated funds on both products (Futures A and Futures B) and participants would require to sign up for both platforms to test and participate in the competition.
Further, users can vote for a testnet they prefer more. As Binance encouraging traders via competition, it also said that it will give away 10000 Binance tokens as an award prize to users that “participate in each Futures Testnet Platform”. Per the report, the competition begins on Sept 3 at 00:00 UTC and ends on Sept 8 at 00:00 UTC.
Moreover, it will also offer 50% trading fee discount for a month to the voters who vote the mainnet version of the futures platform.
At the press time, the crypto market seems moving upward. While the king crypto Bitcoin surges over $10300 USD with a value surge of 6.90 percent over the past 24 hours, other major altcoins are also flourishing with a good mark. Also, Binance’s native token, BNB is trading with a green figure.
According to data by Coinmarketcap, BNB is currently surging with over 5 percent within the past 24 hours and trading at the value $22.61 against USD. Moreover, it holds the seventh-largest spot with market capitalizations $3,516,455,730.
Image Source – Twitter @cz_binance
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