Mon, 11/03/2024 – 16:11
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Less than one week after launching Futures NEXT, Bone ShibaSwap (BONE), BABYDOGE, AIDOGE and many other cryptocurrencies have gone live on leading cryptocurrency exchange Binance. With this addition, Binancians can now attempt to predict upcoming Binance Future listings and get rewarded if their guess is accurate.
Advertisement
Binance introduces Futures NEXT
In anticipation of this listing, Shiba Inu’s BONE experienced a surge in price a few days ago. This was fueled by several fervent calls from SHIB enthusiasts for Binance to list BONE.
On March 7, Binance announced the debut of Futures NEXT, a platform that allows users to engage with token listings by leveraging their market insights. Users get to predict future listings on the USD-denominated futures market for rewards. These users must purchase “Picks” for 1 USDT each in the NEXT Pool. Similarly, participants can choose their token for listing on Binance Futures NEXT. To do this, each user needs a “Nomination Seed” worth 2,000 USDT.
The nominations are then pooled for community voting. Accurate predictions are rewarded either USDT futures bonus vouchers or USDT trading fee rebate vouchers based on their allocated “Picks.”
Binance lists more tokens amid regulatory brawl
Apart from democratizing the process of token listings, this innovative approach is designed to boost Binance’s user engagement and connections. Binance clarified that this voting by users is not the standard for listing even if the token is popular on Futures NEXT.
At the same time, the new platform is still subject to the legal and regulatory guidelines available in different regions.
Generally, Binance has tried to remain at the top of its game as the top crypto exchange amid regulatory tussles. Recently, it added new trading pairs for BTC, ETH and BNB on its platform. Apart from BONE, BABYDOGE and AIDOGE, some of the recent token listings on Binance Futures include Ripple-associated XRP and Cardano ADA.