Binance will let users bet on futures platform token listings

Quick Take

  • Binance has introduced a platform for rewarding traders that accurately forecast which tokens will be listed next on its futures market.

Crypto exchange Binance introduced its Next platform, which allows users to speculate on which tokens will be the next to come to its futures exchange.

The exchange said that users could nominate tokens to be listed, according to an announcement today. Once nominated, any trader can place bets on them. If successful, these users would earn rewards in the form of bonus vouchers for futures trading or trading fee rebates. Bets are rewarded with vouchers worth 1.2 times traders’ picks.

Traders can wager on potential token listings by purchasing a “pick” for 1 USDT. Traders may make predictions for up to three digital tokens, with a maximum of 100 picks at a time. If the token is not listed, the trader can retrieve their stablecoins.

THE SCOOP

Keep up with the latest news, trends, charts and views on crypto and DeFi with a new biweekly newsletter from The Block's Frank Chaparro

By signing-up you agree to our Terms of Service and Privacy Policy