Binance has launched two Binance Futures Testnet Platforms, inviting users to participate in a 10,000 Binance Coin (BNB) futures trading competition.
Two promotions during testing
The major crypto exchange has launched two futures trading platforms named Futures A and Futures B in testing mode, allowing Binance customers to participate in a simulated trading competition, Binance announced on its website on Sept. 2.
According to the announcement, Binance will grant trading competition winners a total of 10,000 BNB, worth around $216,000 at press time. Within the competition, Binance will provide all participants with 100,000 Tether tokens (USDT) in simulated funds on both Binance futures platform, which means that each account will receive that amount of USDT for testing purposes only.
Participants will be further ranked in accordance with the total USDT trading volume transacted, including buys and sells and excluding wash traded, while in order to be eligible, participants will also be required to maintain at least the originally allocated 100,000 USDT in simulated fund by the end of competition, Binance stated.
Additionally, Binance invites its clients to take part in voting for platforms, offering a 50% trading fee discount on the official Binance Futures Platform for a full month for those who correctly vote for the winner platform. The competition will be launched on Sept. 3 and end on Sept. 8 at 00:00 AM UTC, Binance noted.
The news comes days after Binance CEO Changpeng Zhao announced that Binance plans to launch future trading in September on Aug. 28. Previously, Binance announced the launch of its first crypto lending product, allowing users to earn interest from Binance Coin, Tether and Ethereum Classic (ETC).
