The Binance cryptocurrency exchange has launched not one, but two test platforms for its planned cryptocurrency futures products.
Nicknamed Futures A and Futures B, the new test networks are now open for users to play with fictitious assets, with new skills to encourage operators to get involved.
On Monday, Binance announced on its website that users will be able to vote for their favorite futures testnet.
As for the competitions, Binance said it will award prizes for a total of 10,000 Binance (BNB) coins, worth around $ 215,700 at the time of publication, for each platform.
In early July, Binance’s founder and CEO, Changpeng “CZ” Zhao, revealed that encryption futures were on the way, showing a commercial interface with features that include long and short encryption assets.
The exchange also launched crypto loans on August 28 in an attempt to attract user deposits.
Initially, users will be able to lend their USDT, ethereum classic (ETC) and Binance BNB cryptocurrency to earn interest, payable from August 29 to September 11. Annualized interest rate for initial loan products with a fixed term of 14 days has been set at 15 percent, 10 percent and seven percent, for BNB, USDT and ETC, respectively.
Changpeng Zhao image via Shutterstock