Binance Futures Coming Soon, IEO Investors Should ‘Adjust Mentality’

In a livestreamed “ask me anything” (AMA) session hosted by Binance CEO Changpeng Zhao on Wednesday, the crypto exchange executive revealed more details about Binance’s upcoming crypto futures, while also urging some crypto investors to “adjust” their mentality.

Futures coming “very, very soon”

The CEO said that Binance has invested in two undisclosed futures platforms. While one of them was described as “more of an acquisition,” the other one was “developed together with a team [by] ourselves,” he explained.

Zhao further went on to say that “both of them [the platforms] are kind of ready,” although he also added that the company has not quite decided which of them to release yet, and that they may in fact release both because “they are slightly different products.”

“Futures is coming very, very soon, […] definitely some time in September,” CZ said, before adding that both platforms are “very competitive in terms of features” and that more news will be coming about this “very soon.”

“Adjust mentality”

Asked during the AMA session why a project known as Perlin (PERL), which recently held its token sale on Binance Launchpad, “did not do well on listing,” CZ vented his frustration over the mindset that some token sale investors have shown:

“As far as I know, Perlin is still above the [IEO, initial exchange offering] price,” CZ said, before adding “if you think that ICO [initial coin offering] 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.”

“Different market conditions, different times… There are a lot of factors that may affect the price and volatility in markets,” he said, while adding:

“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.”

The CEO also confirmed that they’re still on track with their IEO schedule. In July, Zhao said that they’re planning to launch 5 projects in the “next 3 months or so.”

“We still see a number of strong projects that can deliver,” he said today, stressing that capital raising on blockchain is “the killer app” and Binance will continue to support it.