Binance Announces It Is Launching Futures Testnet Platforms With BNB Rewards | UseTheBitcoin
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Binance Announces It is Launching Futures Testnet Platforms With BNB Rewards

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Carlos is an international relations' analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.

Binance, one of the largest and most recognized cryptocurrency exchanges in the market launched two Futures Testnet Platforms. The information was released by the company in a recent blog post informing they have been working on these platforms behind the scenes. 

Binance Announces New Futures Testnet Platforms

Binance announced two Binance Futures Testnet Platforms called Futures A and Future B. These testnets can be used by traders in the platform to understand how they work using different cryptocurrency assets. Those that get involved will also be rewarded with Binance Coin (BNB). 

The blog post reads as follows:

“We are delighted to announce the launch of not one, but two Binance Futures Testnet Platforms! Our team has been hard at work behind the scenes to develop two Futures Platforms in parallel giving you the freedom to choose.”

Users will have to vote which of the futures testnets is the best. The platform that receives most of the votes will become the official platform offering futures services to users. Participants that vote for the winning platforms will receive 50% trading fee discount for a full month. 

All users will receive 100,000 USDT in simulated funds on each of the futures if they sign up for both platforms. During this competition period, they will be ranked in terms of the total USDT trading volume they transacted on each of the futures accounts. Users will also have to maintain at least the originally allocated 100,000 USDT on their accounts. 

The total bounty is 10,000 BNB that will be distributed among the participants. Users in the first place in both of the futures are going to receive 1,000 BNB each, users in the second place will receive 500 BNB, in the third place 300 BNB, between the 4th and 10th place a split of 1,200 BNB, between the 11th and 20th place a split of 1,000 BNB, and between the 21st and 50th places a split of 1,000. 

Binance is one of the most popular cryptocurrency exchanges in the market. The firm has been working in order to offer different services to users around the world through different platforms and initiatives. The goal is to remain a leader in the market by offering new solutions that would meet everyone’s demands. 

At the time of writing this article, Binance had a trading volume of $681 million in the last 24 hours and it is the fourth largest crypto exchange in the industry according to CoinMarketCap. 

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