The exchange announced the development in an official blog post on Sept. 2, stating that “Our team has been hard at work behind the scenes to develop two Futures Platforms in parallel giving you the freedom to choose."
The platforms will reportedly give users the leverage of making their choice on which among the futures they will use.
To test the futures, Binance sets aside 10,000 Binance Coin to run a competitve bounty for users that will either vote for their favorite future or simulate trading competition, whereby participants will be ranked by their trading volume using USDT.
In terms of eligibility the exchange wrote: "participants will also be required to maintain at least the originally allocated 100,000 USDT in simulated funds in each of their futures accounts by the end of the competition period."
While the competition will allow users to create account with both Future A and Future B platform, the exchange among others noted:
"Participants must use the same email account to register for the two futures platform." Informing intended contestants that "the votes will be counted only from participants that engage in trading on the platforms in this activity, with each participant having the right to one vote only."
Giving its terms and condition for the competition, Binance noted that it "reserves the right to cancel or amend the competition or competition rules at our sole discretion. Binance reserves the right to disqualify trades that are deemed to be wash trades or display attributes of market manipulation."
Adding in to the reward Binance wrote: "participants that vote for the correct eventual winning platform will receive a 50% trading fee discount on the official Binance Futures for the first month after the platform is live."
The rewards will be reportedly "issued within 2 weeks after the competition ends."