Leading cryptocurrency exchange Binance has revealed what seems to be the final interface for an upcoming feature update interface of the Binance.com exchange platform with margin trading. In what seemed like a normal teaser for public consumption with a survey on public opinion turned out to be a not-so-subtle way for Binance to reveal that it was close to launching margin trading on the platform.
The tweet which was shared by Binance, featured two screen grabs of the new trading interface with the caption “Dark mode ? or Light mode ?? #Binance.”
The screen grabs were mirror images of either with the variation of the background color, a trending design feature for enabling both light and dark modes.
A seemingly simple survey with an entirely different point to make. A point that went unnoticed by most people on Twitter prompting Binance CEO Changpeng Zhao (CZ) to intervene.
In both screenshots was a tab titled ‘Margin’ that was evidently selected. The empty tab, however, displayed a reminder to the trader on the risks of engaging in margin trading. Seeing as most people were not getting the clue, CZ tweeted:
“Who’s paying attention here?”
A report by tech news media TechCrunch on Friday speculated that the exchange had been testing the margin trading feature among a select group of its users and among its internal team. Prompted on the launch of the margin trading, a representative of Binance admitted that it will be launching “soon”.
CZ had initially revealed that his exchange was working on launching the feature on a prior Ask Me Anything (AMA) earlier this month during a briefing on the $40 million hack that Binance experienced.
He said that “we are working on our margin system, that’s rolling out very, very soon,”
adding that it will be tested by some of the platform’s high volume traders before being launched to the public.
“We will do a gradual rollout of the margin platform; it’s actually being beta tested by our internal team.”
Margin trading lets users borrow funds from the trading exchange in order to increase their rewards (and consequently risks). The feature is available on several other cryptocurrency exchanges and has been the most requested of Binance users.
Exchanges including BitMex, Huobi Pro, Poloniex, Kraken, Coinbase Pro, and OKCoin are already offering margin. The feature has the potential to positively impact the trading volumes of Binance once it rolls out officially.
