The world’s largest cryptocurrency exchange Binance has launched a token pre-market platform — Binance Pre-Market. Binance users will be able to trade digital assets before they are officially listed on the platform’s spot market.
What’s the point of the news? The eternal problem of hamsters — trading already existing shitcoins has become somehow boring, urgently give us the opportunity to trade non-existent ones. Virtualization of the casino continues to gain momentum. The problem became especially pronounced on the background of HMSTR (Hamster Combat) boom, when many people want to enter the asset because of the hot topic, and the project team is constantly moving its tokensale. There was no ready-made tool at the time, but the problem was actualized and work began.
I wonder how the holders of the HMSTR virtual token would feel now, after the real token dramatically collapsed in value?
Next, the nuances of implementation are interesting. Many crypto exchanges have long implemented a pre-market, but they usually offer derivatives. In particular, futures.
In order to implement the pre-market, Binance has combined its Spot and Launchpool platforms, which resell coins before their official appearance on the spot, thus providing customers with backdoor access (of course, under some special conditions). Therefore, Binance has a safer and clearer model compared to open-ended futures. At the same time, Binance has come to the realization that instead of multiplying unnecessary entities, it is better for everyone to merge everything into one (Occam’s Razor).