Binance, the world's largest cryptocurrency exchange announced on Friday that they will discontinue the NFT Sandbox Staking Program at the end of this month. Additionally, users will no longer be able to 'stake' (lock cryptocurrency in the blockchain network) LAND NFT hosted on the Polygon network on the Binance NFT Marketplace in conjunction with the discontinuation of the NFT Sandbox Staking Program.
Crypto exchange Binance in an official announcement on September 8 revealed the decision to discontinue the NFT Sandbox Staking Program. The exchange said that this decision was taken after careful consideration and evaluation, which is part of efforts to improve product offerings on the Binance NFT Marketplace.
Users cannot stake LAND NFTs hosted on the Polygon Network to earn SAND rewards from September 26. Binance will automatically release all LAND NFTs and return them to user accounts by the end of the month.
Additionally, Binance will remove NFT support on the Polygon network starting September 26. Users should withdraw their NFTs on the Polygon network from the Binance NFT Marketplace by December 31st. In fact, the purchase, deposit, offering, or listing of NFTs from the Polygon Network on the Binance NFT Marketplace will end completely.
Previously, Binance had publicly announced the removal of spot, margin, and continuous trading pairs Cardano and Polygon by Binance escalated after SEC and CFTC lawsuits.
On August 17, Binance released Cardano (ADA) And Polygon (MATIC) perpetual contracts in the BUSD pair. In addition, the exchange issued Cardano (ADA), Polygon (MATIC), and 37 other liquidity on September 1.
