Janis is a cryptocurrency enthusiast and a bitcoin adherent. He has a background in video production, but for the past couple of years, he is a full-time crypto researcher and writer. He has a good understanding of multiple cryptocurrencies and loves to cover daily news. He considers himself a semi-bitcoin maximalist but always is open to any kind of new ideas that could be put on the blockchain. In his free time, he likes skateboarding and cars.
Recently in an AMA (ask me anything) session the Binance CEO, Changpeng Zhao or CZ, addressed Binance users and followers by revealing many details about the upcoming futures trading platform.
Changpeng Zhao, also known as CZ, recently went live on his Binance‘s Twitter profile to do an AMA session. In the session, he described some of the main features and details around the upcoming Futures trading platform. All-in-all, the platform is coming “very, very soon”, says CZ.
August 28, 2019
Additionally, he started out by talking about staking at Binance. He said that recently they have added five additional tokens for staking, including Stellar and Komodo. Also, he revealed that Binance has seen an increasing number of users who choose to stake with the exchange.
Moreover, he expressed his belief that users shouldn’t use any third-party providers for their staking and said that he thinks that staking on exchanges will naturally become more popular. This service will be provided by default to all Binance users and will be completely free.
Next, he moved on to the new referral system which Binance recently launched. He said that this wasn’t as easy as someone might think. The developer and programmer teams had to change some of the technical architecture in order for this to work. Users now can earn up to 40% from referring to somebody when they trade. Also, users now can allocate as much percent as they want, back to the referred person. In other words – users can now give other users trading discounts.
And then CZ took on the topic of futures trading. He revealed that Binance has invested in two undisclosed futures platforms where one of them he described more as an acquisition while the other one was “developed together with a team [by] ourselves,” explained CZ.
However, both of these platforms are “kind of ready”, but the company cannot decide which one to launch first. He even added that they might launch them both at the same time because “they are slightly different products”. Moreover, CZ stressed that both of these platforms are very competitive in terms of the features that will be offered to customers.
“Futures is coming very, very soon, […] definitely sometime in September,” said CZ adding that more info about this will be coming very soon.
Investors Need to Adjust Mentality
An interesting question arose during the AMA session. He was asked about the Perlin (PERL) IEO (Initial Exchange Offering) which just recently was launched on the Binance Launchpad. So the basic concern was about the token sale “not doing well on listing”, pointing out that the price hasn’t moved much since the end of the token sale.
CZ got a little frustrated about the mindset that these token sale investors have, saying:
“As far as I know, Perlin is still above the IEO price. If you think that ICO or Launchpad projects have to go 5x, have to go 10x, in one day, then I think there should be some adjustments to that mentality.”
CZ explained that the service which Binance is offering is different from the 2017 ICO times when a x10 profit was just a casual thing for your ICO investments. He says that there are many factors that might affect the price and volatility in the markets:
“We do our best to look for strong projects that we think will grow in the long-term. So, we do believe Perlin is a strong project. That’s why Launchpad hosted it.”