Binance announced the introduction of the token unlocking and vesting schedule feature on its trading platform on September 11. The world’s largest crypto exchange described it as the first-in-market token unlocking and vesting feature on its platform. The feature is is facilitated by its partnership with crypto data aggregation company CoinMarketCap.
The feature, now available on the Binance website, will soon be available on the Binance mobile application. Binance confirmed that the new feature will allow investors to access crucial data about token unlocks and vesting periods. The information will further help investors make more informed decisions during trades.
The crypto exchange said it hopes the partnership will increase transparency about project token economics. Investors can then access meaningful information about crypto projects’ crowdfunding, venture capital funding, presales, tokenomics, and more.
The new feature to improve user experience
The token unlocking and vesting feature is expected to improve investors’ user experience because they won’t need to leave the Binance website to access the data. CoinMarketCap data enables on-chain data, including the percentage of locked-up tokens, vesting schedules, and upcoming unlock events, to be significantly more straightforward to understand.
Binance’s Head of Regional Markets, Vishal Sacheendran, also explained the exchange’s dedication to improving user experience. In a statement during the announcement, Vishal mentioned that the new feature is intuitive and meant to improve investor experience through information availability.
“We are always improving the user experience and helping our users optimize their trading strategies.”
-Vishal Sacheendran, Head of Regional Markets at Binance
Vishal reiterated the essence of the partnership as a powerful collaboration to bring more comprehensive market data and tools. Both companies further agree that the readily available data helps investors reduce trading risks.
Binance announces a mock spot copy trading tournament
We introduced Mock Copy Trading this week.
Copy Trading is a popular new feature that was highly requested. Now, with a mock option, you can give it a try risk free to see if it’s right for you. pic.twitter.com/H1PBmS9eUK
— Richard Teng (@_RichardTeng) January 19, 2024
The exchange announced the opening of a new mock spot copy trading tournament on the same day, where participants can share 10,000 FDUSD. The tournament allows participants to explore the features of spot copy trading without incurring any losses or dealing with risks.
The tournament is among the many Binance has held since the beginning of the year. On January 7 this year, the exchange introduced mock copy trading as an educational feature for traders to encourage real-life copy trading. The feature helps interested investors learn more about futures trading.
The mock spot copy trading tournament will begin on September 11 and end on September 29 at 23:59 (UTC). The competition allows all regular and VIP 1-3 traders who have never participated in spot copy trading to confirm participation and create a mock spot copy trading account to participate in the tournament.
The Binance team explained that the total Profit and Loss across all mock copy trading portfolios will determine participants’ ranking. Depending on their ranking, participants will receive different prizes, with the first receiving 1500 FDUSD and the last an equal split of 3500 FDUSD.
Participants can expect their rewards to be distributed within 21 days after the tournament ends. They can also access all rewards through Binance’s Rewards Hub. The rewards will only be available for 2 weeks after their distribution. The exchange has a guide on how users can redeem their vouchers.
Source: https://www.cryptopolitan.com/binance-token-unlocking-and-vesting-feature/