Interpretation of Binance's new platform Futures NEXT: 'National Minimum Living Security Game”, a 'prediction market” that guarantees profit without loss

On March 7, Binance launched the Futures NEXT section, which is a prediction market for new currency listings on 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 should be noted that Futures NEXT is different from a voting platform. It is an incentive platform independent of the Binance token listing process. If your prediction is correct, you will receive contract trading coupons or fee discount coupons.

Binance mentioned in the official statement that although the popularity of a token on the platform does not determine whether it will be listed for trading, Binance will continue to follow a strict currency review process to ensure that all tokens All will be evaluated according to the same criteria. Regardless of how a token performs on Futures NEXT, it will be subject to the same review standards to ensure fairness and justice.

Therefore, this platform provides users with a low-risk opportunity to participate in crypto prediction markets. The official definition is "to facilitate users to interact with the community, share market insights and win rewards", where users can actively participate and receive corresponding rewards.

How to participate in the "Pick" mechanism

As of the time of writing, according to the official website, there are 31 nominated tokens on Futures NEXT, including Bittensor, Delysium, and Pandora. The total number of "Pick" The value has reached US$148,000, with 2,277 participants.

The specific participation methods are:

1. Log in to the Futures NEXT platform;

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 2000USDT 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-in period, the fee can be Converted to "Pick", it can also be 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 only one user can nominate a token. In the official announcement, BInance stated that “approval is not guaranteed and the Binance Futures Trading Platform reserves the right to approve or reject nominations based on internal standards.” In a place where the power game is very fierce, Binance has created a plan to kill three birds with one stone through Futures NEXT in the context of such fierce market competition.

As mentioned earlier, Futures NEXT is an incentive platform, which is more like a simulated prediction market. This risk-free strategy is popular for most users, but fundamentally, the launch of Futures NEXT has no impact on the future. It is mutually beneficial for Binance and the project side.

For users, listing coins was a secretive process in the past, 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 it is 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 it can use low-cost methods to motivate users to participate in contract transactions, and can also bring together the liquidity brought by "Pick", and Unite projects that are not listed on Binance to the Futures NEXT platform and achieve three goals with one stone.

But 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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