Binance Concludes NFT Staking and Withdraws Support for Polygon Network Sandbox

Binance Concludes NFT Staking and Withdraws Support for Polygon Network Sandbox


Binance Ends Sandbox NFT Staking Program and Removes NFTs on Polygon Network

You can no longer take part in Binance’s Sandbox NFT Staking Program as the exchange has decided to end it by the end of these 30 days. In addition, you won’t be be able to stake LAND NFTs hosted on the Polygon network on the Binance NFT Marketplace. This move is part of Binance’s effort to strengthen its product offerings on the marketplace.

Changes in NFT Support on Polygon Network

Binance has announced that starting from September 26, you will  no longer be able to stake your LAND NFTs on the Polygon Network to earn SAND rewards. All LAND NFTs will be automatically unstaked and returned to your accounts by the end of these 30 days. Furthermore, Binance will remove support for NFTs on the Polygon network from September 26. You must withdraw your NFTs from the Polygon network on Binance NFT Marketplace by December 31. Following that, buying, depositing, offering, or listing NFTs from the Polygon Network on Binance NFT Marketplace will be completely discontinued.

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Binance Delists Cardano (ADA) and Polygon Trading Pairs

After the  lawsuits by the SEC and CFTC, Binance has been delisting and removing Cardano (ADA) and Polygon spot, margin, and perpetual trading pairs. On August 17, Binance delisted Cardano (ADA) and Polygon (MATIC) perpetual contracts in BUSD pairs. In addition, on September 1, the exchange removed Cardano (ADA), Polygon (MATIC), and 37 other liquidity pools.

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Hot Take

These recent developments by Binance reflect the dynamic nature of the cryptocurrency market and the need for platforms to adapt and optimize their offerings. As a cryptocurrency enthusiast, it’s critical to stay updated on such changes to make notified decisions and navigate the evolving landscape of digital currencies and NFTs.

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