What is Futures NEXT?
Frequently Asked Questions
What is Futures NEXT?
What is Futures NEXT?
Futures NEXT is a pioneering platform by Binance Futures that enables users to engage with the dynamic world of token listings. Through a prediction-based mechanism, users are rewarded for accurately forecasting which tokens will be listed on Binance Futures' USDⓈ-M market.
What is the NEXT Pool?
The NEXT Pool forms an integral part of the Futures NEXT platform. It displays a curated collection of tokens that users have nominated for potential listing. This user-centric nomination process ensures that the pool accurately represents the community's perspective and understanding of promising tokens for the USDⓈ-M Futures market.
Users can engage with this feature by allocating "Picks" to their preferred tokens within the pool. If those tokens are successfully listed on the USDⓈ-M Futures market, users could earn rewards.
Understanding the independence of Futures NEXT from USDⓈ-M listing decisions
Futures NEXT operates independently of Binance's listing process, focusing on rewarding accurate market predictions rather than influencing token listings. While users can nominate and allocate Picks to tokens, it's crucial to understand that Futures NEXT is not a voting platform.
Consequently, the popularity of a token within the platform does not guarantee its listing. Binance maintains a rigorous and impartial listing review process, ensuring that all tokens undergo the same evaluation criteria regardless of their performance or popularity on Futures NEXT.
Participation and mechanics
How do I get involved with Futures NEXT?
Participation is straightforward: Go to Futures NEXT on Binance, where you can either use your insight to predict future listings by purchasing Picks for 1 USDT each, or nominate new tokens to the NEXT Pool with a 2,000 USDT Nomination Seed.
What are Picks?
A Pick is essentially your bet on which token will be listed next on USDⓈ-M Futures. Each Pick is valued at 1 USDT. If you made a successful prediction, you can get Futures trading vouchers, magnified by a multiplier for even greater rewards.
What happens if a token I picked does not get listed or if I change my mind?
Futures NEXT offers a risk-free participation model. If a token you allocated Picks to does not get listed on the USDⓈ-M Futures market, you can withdraw your Picks after the initial 3-day lock-in period. Your Picks will be converted back to USDT and credited to your Futures Wallet, allowing you to re-allocate them to a different token or withdraw them entirely.
Additionally, if you change your mind about a prediction, you have the flexibility to retract your Picks after the 3-day lock-in period. This means you can fully or partially withdraw your Picks from a token and re-allocate them to another token in the NEXT Pool that you believe has a higher likelihood of being listed.
The lock-in period is a brief commitment, after which you can adjust your strategy without any downside. This user-friendly approach encourages active participation and strategic decision-making, as you can freely adapt your Picks based on market dynamics and your evolving insights.
How to allocate Picks to a token featured in the NEXT Pool?
Go to Futures NEXT and select the token you wish to allocate your Pick(s). Click [Pick] and enter the amount you wish to purchase, where 1 Pick =1 USDT. Please note that you can only purchase Picks with funds from your USDT Futures Wallet.
Once you’ve purchased Picks, you can allocate them to your token of choice. Enter the amount of Picks to allocate under [Pick Amount]. Then, click [Pick Token Now!] to proceed.
What are the limitations regarding Picks?
You can allocate a maximum of 100 Picks to a token. Please note that you can only allocate Picks to a maximum of 3 tokens.
Can I withdraw or re-allocate my Picks?
You can retract your Pick after a 3-day lock-in period. After which you can convert your full or partial Pick amount back to USDT.
How can I nominate tokens to be featured in Futures NEXT?
If you don’t see the token you wish to allocate Picks to in the NEXT Pool, you can nominate it by investing 2,000 USDT.
To do so, enter your token of choice in the search feature next to [Nominated Token Pool].
If the token isn’t in the NEXT Pool already, you’ll see a [Nominate] button. Click on it to nominate.
Read the notes carefully before continuing. Click [Confirm] to nominate the token.
Upon Binance's review and approval, your Nomination Seed will be converted into Picks tied to your nominated token.
- Your Picks generated by nomination will be tied to the nominated token and locked-in for 30 days.
- After the lock-in period, any remaining Picks can be withdrawn as USDT to your Futures Wallet.
- Please note that approval is not guaranteed. Binance Futures reserves the right to approve or reject nominations based on internal criteria. If your nomination isn’t approved, your Nomination Seed will be refunded in full to your USDⓈ-M Futures Wallet.
What are the rewards for participating in Futures NEXT?
How are voucher rewards calculated?
Your rewards are structured in two stages:
- Initial pick amount: The initial pick amount you allocate towards a successfully listed token is returned to you as a USDT Token Voucher. This straightforward 1:1 reward ensures that your investment in making predictions is directly recognized.
- Multiplier effect: The Pick to Reward Multiplier further amplifies your reward. Using the multiplier rate (e.g., 1.2), the additional reward is calculated and provided as either a Futures Bonus Voucher (for new futures users) or a Futures Trading Fee Rebate Voucher (for existing futures users). This encourages and rewards your insights and engagement with the Futures NEXT platform.
Example: You allocate 100 picks to token ABCD in the NEXT Pool. When ABCD gets listed on USDⓈ-M Futures:
- If you’re a new futures user, you can receive a 100 USDT Token Voucher in your Spot Wallet, reflecting your initial pick amount.
- Additionally, with an active multiplier of 1.2, you earn an extra 20 USDT as a reward. This extra amount is awarded as a Futures Bonus Voucher, bringing your total reward to 120 USDT for your accurate prediction.
When and how are rewards vouchers distributed?
The reward distribution timeline and process are as follows:
- USDT Token Vouchers: These vouchers, equivalent to your initial pick amount, will be credited to your Spot Wallet within 7 days following the successful listing of the token you predicted.
- Futures Bonus or Futures Trading Fee Rebate Vouchers: The additional reward, calculated with the Pick to Reward Multiplier, will be issued as Futures Bonus Vouchers for new traders or as Futures Trading Fee Rebate Vouchers for existing users. They’ll also be credited within 7 days following the successful listing of the token you predicted.
- Redemption deadline: You have 7 days from the distribution date to claim your vouchers. After claiming, the Futures Bonus Vouchers or Trading Fee Rebate Vouchers must be utilized within 30 days. Please ensure to redeem your vouchers promptly to benefit from your successful predictions on Futures NEXT.
What is the Pick to Reward Multiplier?
In the NEXT platform, the multiplier serves as a reward-enhancement mechanism that increases the value of your initial Pick amount, leading to greater rewards. For example, suppose you allocate 100 Picks towards token A.
If token A is successfully listed and the active multiplier is 1.2, this multiplier is applied to your Pick amount to calculate your reward. Consequently, instead of a straightforward 100 USDT bonus voucher based on a 1:1 ratio, you're awarded a bonus voucher worth 120 USDT (calculated as 100 Picks * 1.2 multiplier).
When and how are rewards vouchers distributed?
Reward vouchers will be distributed within 10 days after the successful listing of the predicted tokens. For vouchers redemption, follow the step-to-step guide here.
Please note that you must redeem the voucher within 7 days of distribution.
How to manage my nomination and picks?
What happens if my nomination is approved?
Once approved, your Nomination Seed transforms into Picks for the nominated token. They will be locked for 30 days, after which you may withdraw them as USDT, provided the token hasn't been listed.
Nomination inherently grants you a Pick amount superior to the 100 Picks cap per user. You’ll get 2,000 Picks for the token you nominated. However, please note that those Picks are locked and tied to the nominated token.
Is there a limit on the number of nominations?
Each user can only nominate a maximum of 3 tokens at once.
What if my nomination isn't approved?
Should your token nomination not meet Binance's criteria, the entire Nomination Seed of 2,000 USDT will be refunded to your Futures Wallet in USDT.
1. Are there any restrictions on using Futures NEXT?
Futures NEXT is exclusive to Binance users who are eligible for Futures services. Sub-accounts are ineligible to participate.
Your predictions and nominations should be the result of thorough market research, demonstrating your market insight.
2. Can I withdraw my Picks?
Yes, you can withdraw your Picks after a 3-day lock-in period. Your Picks can be converted fully or partially to USDT, offering a flexible and a downside-free participation experience.
Yes, you can withdraw your Picks after a 3-day lock-in period. Your Picks can be converted fully or partially to USDT, offering a flexible and a downside-free participation experience.
3. Can I change my Picks?
Yes, you can adjust your allocations after the 3-day lock-in period. If you change your mind after allocating Picks to a token, you can withdraw your picks and re-allocate them to another token after the lock-in period expires.
4. What happens to my Picks if a token is not listed?
If a token you've allocated Picks to isn't listed, your Picks for that token remain in your account. You can choose to keep them allocated to another token in anticipation of a future listing, or withdraw them after the lock-in period.
5. Are there any fees associated with nominating a token?
The only cost involved in nominating a token is the 2,000 USDT Nomination Seed. There are no additional fees for the nomination process itself.
6. How often can I nominate tokens?
You can nominate up to 3 tokens at any one time. Once a nomination is approved or rejected, or after withdrawing your Picks after the 3-day lock-in period, you can nominate new tokens.
7. How is the NEXT Pool updated?
The NEXT Pool is dynamically updated based on user nominations and Binance's internal review process. Tokens can be added or removed based on user activity and Binance's criteria for potential listings.
The NEXT Pool is dynamically updated based on user nominations and Binance's internal review process. Tokens can be added or removed based on user activity and Binance's criteria for potential listings.
8. What criteria does Binance use to approve nominations?
While specific criteria are proprietary, Binance evaluates tokens based on factors like project quality, community support, market demand, and compliance with legal and regulatory standards.
9. Can I participate in Futures NEXT from any country?
Futures NEXT is subject to regional availability and regulatory restrictions. It may not be accessible in certain jurisdictions or to certain users, based on legal and regulatory requirements.
10. How many Picks can I buy?
Each user can buy up to 100 Picks per token, with a limit of actively allocating Picks to 3 different tokens at any one time.
11. How do I check the status of my nominations?
You can view the status of your nominations under [My Nominations] on Futures NEXT. You'll see whether they're pending review, approved, or not approved.
12. What rewards can I expect from participating in Futures NEXT?
Rewards vary based on your successful predictions. You may get Futures Bonus Vouchers (for new traders) or Futures Trading Fee Rebate Vouchers (for existing futures users). The value of these vouchers is enhanced by the Pick to Reward Multiplier, rewarding your accurate market predictions.
When a token listed in the NEXT Pool gets listed on USDⓈ-M Futures, your reward amount will be updated within 60 minutes in the “My Dashboard” section.
13. What happens if a token is delisted from the NEXT Pool?
In rare cases, Binance may delist tokens from the NEXT Pool. If you successfully nominated a token and then it is delisted, your Nomination Seed amount will be credited back into your USDⓈ-M Futures Wallet within 60 minutes.