Popular crypto exchange Binance introduced two brand-new platforms that will allow testing of its future crypto projects. The two new testnets are called “Futures A” and “Futures B” and are now available to users who want to test them via dummy assets. Binance included competitions that should eventually stimulate traders to participate.
The new “Futures” were announced on Monday via Binance’s official website and so were the competition’s conditions. During the period 2019/09/03 00:00 AM – 2019/09/08 00:00 AM (UTC) users will be able to vote for their favorite testnet here.
Binance announced prizes of overall 10,000 BNB (Binance coin) for each platform. At the moment of the press release this was worth approximately $215,700.
Now, this “Futures” initiative might be not such a surprise for people that follow the crypto news regularly as in July, CEO and Binance Founder Changpeng “CZ” Zhao commented that such crypto Futures were coming. Back then he showcased a trading interface with shorts and longs on crypto assets.
Another initiative is the launch of crypto loans on August 28 which serves as a way to attract user deposits. At first, users will earn interest that is payable from August 29 to September 11 by lending the U.S. dollar-pegged USDT, Ethereum Classic (ETC) and BNB. The initial lending products’ annualized interest rate with a 14 day maturity term is set at 15% for BNB, 10% for USDT and 7% for ETC.