Recently, it was announced that Vine now has more media shares than Instagram on Twitter, especially after being introduced to Android. But now, rumors are suggesting that Instagram is spooked by its 6-second long competition—and is planning an app of its own.

Vine doesn't have the same perks on Facebook as Instagram does. Facebook prevents Vine from using its friend-finding platform, and, in general, Vine benefits much more from Twitter's hashtagging and handle-linking than simply being linked to on Facebook.

Because of Facebook and Twitter's ongoing feud, Facebook is possibly planning on coordinating with Instagram to form a video app that is rumored to give you up to a whopping 10 seconds of film time. A Facebook press conference is set for June 20, where they're expected to announce a new product. 

So what features will this app have? One thing missing from Vine is white balance, color correction or any sort of filters, which would go hand-in-hand with what Instagram already provides for photos. Special features like transitions and captions would be nice too (since Instagram lets you have picture frames.) The only thing to really worry about is the emergence of autoplay ads on Facebook, which could be perceived as less spontaneous and irritating if Facebook is populated by a video app (but, nonetheless, those startling video ads are enjoyed by no one.)

What features are you hoping this new app will have?