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Binance Introduces Pre-Market Spot Trading for New Tokens
Binance has unveiled a pre-market service that enables spot trading of new tokens before their official listing on the spot market. This innovative feature, announced on September 25, allows users to trade selected tokens from the Binance Launchpool in advance.
What is Binance Launchpool?
The Binance Launchpool is a token launch platform where participants can lock Binance Coin (BNB) and First Digital USD (FDUSD) to farm new tokens. Traditionally, users had to wait until the Launchpool period concluded to trade their airdropped coins on the spot market. The new pre-market feature changes this by allowing users to buy or sell tokens before their official spot listing.
Why Introduce Pre-Market Spot Trading?
Vishal Sacheendran, Binance’s head of regional markets, stated that the launch of this service is in response to user demand and aims to enhance the global crypto exchange’s ecosystem by providing greater utility. According to Sacheendran, pre-market spot trading also helps token projects extend their life cycle on Binance.
“Binance is the only crypto exchange to offer pre-market spot trading whereby tokens will be exclusively allocated and generated for users to hold and trade in the pre-market.”
How It Works
Binance will announce each selected Launchpool token eligible for pre-market spot trading. Users can participate in early market entry, trade strictly vetted projects, and access tokens before they list on the most liquid exchange.
Benefits to Users
- Early market entry
- Opportunity to trade strictly vetted projects
- Access to tokens before their official spot listing
Binance plans to charge standard spot trading fees for the pre-market service. The offering for each selected token will end four hours before the announced listing time.
Availability
The new product will be available in most jurisdictions where Binance operates. However, legal and regulatory requirements may impose restrictions in certain countries or regions.
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