In an exciting new development, Binance, one of the world’s leading cryptocurrency exchanges, has announced a pioneering decision to facilitate token listing wagers on its futures platform. Users will now have the opportunity to speculate on which tokens might be next in line for listing on the platform.
Expanding User Experience and Engagement On The Platform
With the aim of expanding user engagement and amplifying the overall user experience, Binance’s new functionality allows participants to place digital currency-based predictions on possible token listings. In a nutshell, users can now ‘bet’ on the prospect of a specific token being listed on Binance’s future platform in the near-term. A significant offering, this has up until now been relatively untouched within the cryptocurrency scene.
In this revised approach, Binance will be launching “Listing Futures” on the platform. These contracts will be settled in USD, with the price reflecting market expectations for a token listing. In case a token that is part of a futures contract doesn’t get listed during the contract period, the contract price will be zeroed out. If the token does get listed, the contract will be settled at a price of 1000 BUSD.
Adding Depth to The Playfield: The Case of The “AXS Listing Future”
To give a taste of how this novel feature will play out in real scenarios, Binance has already launched its first Listing Future, dubbed “AXS Listing Future”. AXS, or Axie Infinity Shard, is an in-game token in the Axie Infinity blockchain game. The futures contract was launched with expiry on December 31, 2021. Token holders and potential investors will keenly watch the AXS listing unfold, a process that will provide valuable insights into how this innovative feature will impact the broader Binance experience and the crypto market landscape.
Akin to policy changes in conventional financial markets, Binance’s shift toward facilitating wagers on future token listings can have wide-ranging impacts. It could potentially influence trade decisions, stir up fresh interest among users, and attract a new audience segment to the platform. All eyes are set on how Binance’s latest move will shape the course of decentralized finance and exchange platforms in times to come.
