Crypto exchange Binance has introduced its Next platform, which allows users to speculate on which tokens will be next to arrive on its futures exchange.
The exchange said users could nominate tokens to be listed, according to a announcement Today. Once named, any trader can bet on them. If successful, these users would earn rewards in the form of bonus vouchers for futures trading or discounts on trading fees. Bets are rewarded with vouchers worth 1.2 times traders’ picks.
Traders can bet on potential token listings by purchasing a “pick” for 1 USDT. Traders can make predictions on up to three digital tokens, with a maximum of 100 picks at a time. If the token is not listed, the trader can get their stablecoins back.
The exchange clarified that it is not a voting platform to help choose which tokens to list and said it will continue to use its current process.
“Futures NEXT operates independently of Binance’s listing process, focusing on rewarding accurate market predictions rather than influencing token quotes,” he said.
Disclaimer: The Block is an independent media outlet providing news, research and data. Since November 2023, Foresight Ventures has been a majority investor in The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to provide objective, impactful and current information about the crypto industry. Here is our current financial information.
© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.