Binance Ends NFT Staking Program And Polygon (MATIC) Network Support

The world’s largest crypto exchange Binance on Friday announced ending the Sandbox NFT Staking Program by the end of this month. Furthermore, users will not be able to stake their LAND NFTs hosted on the Polygon network as the Binance NFT Marketplace discontinues Polygon support 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:

• XRP Community Backs LBRY As It Decides To Appeal Against US SEC
• Crypto Exchange Thodex CEO Sentenced To 11,196 Years In Prison
• Crypto In Crosshair Amid Singapore MAS Money Laundering Investigations