Key Points
- Binance will launch the LOKAUSDT futures contract with up to 75x leverage later today.
- LOKA token surged by 20% following the announcement.
Binance officially announced the launch of futures trading for League of Kingdoms Arena (LOKA) today, September 24, in an effort to expand users’ trading choices and experience.
The LOKAUSDT Perpetual Contract will be launched at 11:30 (UTC) with up to 75x leverage.
Following Binance’s official announcement, the LOKA token surged significantly.
LOKA Price Spikes Following Binance’s Announcement
At the moment of writing this article, LOKA is trading above $0.27, up by 20% in the past 24 hours. Earlier, the token reached a price of over $0.29.
Now, the token has a market cap of almost $50 million.
On September 23, the team behind League of Kingdoms Arena shared a post via X, remembering Arena-Z’s chain launch. They also gave a huge shoutout to their incredible speakers and guests for making it an event to remember.
Arena-Z is a dedicated gaming blockchain platform that drives the widespread adoption of Web3 gaming. They support a high-quality ecosystem of games and offer a well-equipped environment for all, according to a post dated August 27 on X.
They also announced to followers that they are working on something this month, and cannot wait to share the results.
What is the League of Kingdoms Arena (LOKA)?
League of Kingdoms Arena (LOKA) is a blockchain-based Massively Multiplayer Online (MMO) strategy game. The project is a play-to-earn ecosystem that allows players to earn real income via in-game activity.
During the gameplay, users can perform the following:
- Build kingdoms
- Raise armies
- Form alliances
- Compete on the battlefields for power and wealth
The League of Kingdoms Arena’s governance token LOKA allows holders to:
- Take part in the decision-making process on the platform
- Purchase in-game items
- Profit via staking
The project also has a utility token called DST (Dragon Soul Token) and this is necessary for breeding Dragos, the dragon-like in-game characters.
The LOKA token went live back in January 2022. The official whitepaper reveals that the game was launched in July 2021, and in 2022, the platform released the following:
- A Proprietary NFT marketplace
- A PvP arena
- A Land reward hub
The project’s whitepaper notes that the League of Kingdoms Arena game received features of a social network and economic platform with a strong community, spanning across the digital and real world – all this was possible due to the rapid rise of the digital economy and the blockchain Play-to-Earn revolution.
