Binance CEO Officially Announces the Launch of Binance Futures
The CEO of Binance, Changpeng Zhao, known as CZ had announced the official launch of Binance Futures. The announcement which he made open to the general public on September 9 could be seen bold strides in the right direction following the Bakkt's announcement of the Bitcoin futures.
In an effort to get a feel of what the market would be like before the official launch the Exchange had made a previous unveiling of its crypto futures testnet last week. The test net was available for five days and launched on two platforms, platform A and platform B, so as to increase the scope of coverage of the market. In order to see weight the performance of the platforms more adequately, they were both pitched against each other to see which one performed better.
A week after the release of this test net, CZ made an official announcement of the official launch on his twitter handle:
- Binance Futures officially launched, invitation-only for now
- Lending batch 3
- Top menu optimization
- API: real-time tick-by-tick updates for all symbols (an industry first?)
and maybe more. #onwards
The reaction of users to this new development
There were mixed reactions from users in response to the testnet that was previously launched. One of the testers named @2xjump posted a review on twitter expressing dissatisfaction with the working of the platform.
Bitmex had also expressed its dissatisfaction on twitter with the exchange for copying its Futures documentation. Although, the Twitter user has admitted that Binance’s futures platform is much better than BitMEX’s in terms of liquidation.
Image via Shutterstock