Binance Ends Sandbox NFT Staking And Polygon Network Support

Binance Ends Sandbox NFT Staking And Polygon Network Support

The world’s largest crypto exchange Binance on Friday announced ending the Sandbox NFT Staking Program by the end of the month. Also, users will not be able to stake LAND NFTs hosted on the Polygon network on the Binance NFT Marketplace along with ending the Sandbox NFT Staking Program.

Binance Removes NFTs On Polygon Network

Crypto exchange Binance in an official announcement on September 8 revealed the decision to discontinue the Sandbox NFT Staking Program. The exchange said the decision is made after thorough consideration and evaluation, which is part of an effort to improve product offerings on Binance NFT Marketplace.

Users can’t stake LAND NFTs hosted on the Polygon Network to earn SAND rewards from September 26. Binance will automatically unstake all LAND NFTs and return to users’ accounts by the end of the month.

In addition, Binance will remove NFTs support on the Polygon network from September 26. Users must withdraw their NFTs on the Polygon network from Binance NFT Marketplace by December 31. In fact, buying, depositing, offering or listing NFTs from the Polygon Network on Binance NFT Marketplace will completely end.

CoinGape Media reported that the delisting and removing of Cardano and Polygon spot, margin, and perpetual trading pairs by Binance increased after the SEC and CFTC lawsuits.

On August 17, Binance delisted Cardano (ADA) And Polygon (MATIC) perpetual contacts in BUSD pairs. Moreover, the exchange removed Cardano (ADA), Polygon (MATIC), and 37 other liquidity pools on September 1.

Also Read:

✓ Share:

Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

Share

Leave a Reply

Your email address will not be published. Required fields are marked *

error: Content is protected !!