On March 7, Binance launched the Futures NEXT section, which is a prediction market for new currency listings in Binance contracts. On the platform, participants can use a ticket named "Pick" to vote for tokens in the token pool for listing the contract. If the token is successfully listed on the USDⓈ-M contract market, users can receive rewards. In addition, users can also nominate their own tokens to join the prediction pool.

Each "Pick" is worth 1U, and each user only has a 100 "Pick" quota, and can only invest in three types of tokens at most. If the user wants to go back on his word, he can cancel the "Pick" after the 3-day lock-in period. There will be no loss of handling fees, and the "Pick" will be returned to the contract account in the same way. For users who want to nominate tokens, the listing nomination fee is 2,000 USDT. After the token is successfully listed, the nominator’s incentive principal will increase. If the user wants to cancel the nomination, they need to wait for the 30-day locking period before returning it.

It is worth noting that, Futures NEXT is not a voting platform. It is independent of Binance's token listing process. It is just an incentive platform. If your prediction is correct, you can get contract trading coupons or handling fee discount coupons.

In the official announcement, Binance stated that "the popularity of a token on the platform does not guarantee its listing. Binance will maintain a strict and fair currency review process." , ensuring that all tokens follow the same evaluation criteria regardless of their performance or popularity on Futures NEXT."

Therefore, this platform is very beneficial to users It is a low-risk opportunity to participate in the crypto prediction market. The official definition is "to facilitate users to interact with the community, share their market experience and win rewards."

How to participate in the "Pick" mechanism

As of writing, according to the official website, there are 31 nominated tokens on Futures NEXT including Bittensor, Delysium, and Pandora, and the total value of "Pick" has reached 148,000 USD, and the number of participants was 2277.

The specific participation methods are: ：

1. LoginFutures NEXTPlatform;

2. Transfer USDT to the contract account;

3. Click "Pick" and confirm.

For each successful prediction, the user will receive USDT contract experience coupons or USDT transaction fee discount coupons based on the number of "Picks" previously participated in the prediction. For novice contract trading users, the coupons are in the form of contract reward coupons; for old contract users, the coupons are in the form of contract transaction fee rebate coupons. The greater the number of "Picks", the higher the value of the coupon rewards the user will receive.

The current official reward multiplier is 1.2, and this value will change. Currently, if Token A is successfully listed and the effective multiple is 1.2, and the user holds 100 "Pick", it means that a coupon worth 120 USDT can be obtained, which will be issued within 10 days after the predicted token is successfully listed, and requires Redeem coupons within 7 days of issuance.

In addition, users can also spend 2,000 USDT to nominate tokens. After review and approval by Binance, if the nomination is approved, the nomination fee will be locked for 30 days, after the lock-up period ends, this fee can be converted into "Pick" or returned to the contract account in the form of USDT. If not approved, the funds will also be returned in full to the contract account.

It is worth mentioning that the announcement did not mention that a token can only be nominated by one user. In the official announcement, BInance stated that "Approval is not guaranteed and the Binance contract trading platform reserves the right to approve or reject nominations based on internal standards."

Risk-free Behind the scenes

The encryption market is a place where the battle for attention is very fierce. Against the background of such fierce market competition, Binance has created a plan to kill three birds with one stone through Futures NEXT.

As mentioned earlier, Futures NEXT is an incentive platform, which is more like a simulated prediction market. This risk-free strategy is welcomed by most users. , but fundamentally, the launch of Futures NEXT is mutually beneficial to Binance and the project side.

For users, listing coins used to be a secretive process, but now they can participate in the contract listing process at a low cost, which is a very new experience. Moreover, the required principal amount is not high, and you can withdraw without risk after investing. From this aspect alone, it is a relatively cost-effective deal.

For project parties, Futures NEXT is a good marketing platform and means. Leveraging Binance’s extensive user base and the market popularity of listing the currency, the project team can still gain exposure and traffic even if they are not necessarily listed on Binance after being nominated.

For Binance, Futures NEXT is a platform that encourages users to participate in contracts, which means that low-cost methods can be used to motivate users to participate in contract transactions, and "Pick" can also be collected It brings liquidity and unites projects not listed on Binance to the Futures NEXT platform, killing three birds with one stone.

However, the currency circle is an exciting field that pursues high risks and high returns. There is no risk, so the returns are destined not to be too high.

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