Binance launched a new prediction platform called Futures NEXT on the 7th, allowing users to predict which tokens will be listed on its U-based contracts. Users who guess correctly will be rewarded with trading experience funds and fee rebate vouchers, among other rewards. Within less than a day, the platform attracted 2,671 participants who invested 169,175 USDT.
(Background information:
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Table of Contents:
How to participate?
1 USDT = 1 Pick
Nominating a new token requires 2,000 USDT
Attention to lock-up period
Futures NEXT is independent of Binance’s listing process
On the 6th, Binance announced the launch of a new platform called Futures NEXT, following the launch of AEVO’s new token mining event. Futures NEXT, as the name suggests, is a platform that allows users to predict which tokens will be listed on Binance’s U-based contracts. There is no loss for guessing incorrectly, but rewards are given for correct guesses, including:
For new contract users: providing contract trading experience funds;
For existing contract users: providing contract trading fee rebate vouchers.
These rewards also come with a bonus, currently at 1.2 times, which means that if a user invests 100 USDT, they will receive rewards worth 120 USDT.
Within less than a day of the launch of the Futures NEXT platform, it has already attracted 2,671 users and a total investment of 169,175 USDT, demonstrating its considerable attractiveness.
(Source: Futures Next platform)
According to the instructions, in order to participate in the platform, users must purchase 1 pick for the price of 1 USDT, and then use the pick to select tokens they believe will be listed in the NEXT Pool. However, participation is not unlimited. The platform limits users to a maximum of 3 picks for 3 tokens, with a maximum of 100 picks per token.
(NEXT Pool tokens)
If there are no desired tokens in the NEXT Pool, users can nominate new tokens with 2,000 USDT. Similarly, users can nominate a maximum of 3 tokens at a time. After Binance’s review and approval, these 2,000 USDT will be converted into 2,000 picks for the nominated tokens. If the tokens are not approved, Binance will fully refund the USDT.
As shown in the figure below, when entering the desired token in the search bar, related currencies that can be nominated will appear below. Therefore, not all currencies can be nominated.
(Enter the desired token in the search bar, and related currencies that can be nominated will appear below)
It is worth noting that both participating in picks and nominations have a “lock-up period”:
After users make picks and if Binance does not list them, the picks can be redeemed after a lock-up period of 3 days. The picks will be converted back to USDT and counted in the contract account.
If users regret their picks, they can also redeem all or part of the picks for USDT after a lock-up period of 3 days.
Picks generated through nominations are not only tied to the nominated tokens but also have a lock-up period of 30 days. If the lock-up period ends and Binance does not list the tokens, the picks can be redeemed for USDT.
With the launch of Futures NEXT, the community initially believed it to be a new way for tokens to be listed on Binance. However, Binance emphasizes that the operation of Futures NEXT is completely independent of Binance’s token listing process. Its main goal is to reward users who accurately predict market trends, rather than directly influence which tokens can be listed.
Although users have the opportunity to nominate tokens they support and allocate picks for them, the key is to recognize that Futures NEXT is not a voting system used to determine listings. Therefore, the popularity of a token on this platform does not guarantee its listing.
Binance implements a rigorous and fair token listing review process to ensure that each token is evaluated according to a unified set of criteria, regardless of its performance or popularity on Futures NEXT.
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