Binance, the world’s largest cryptocurrency exchange, has announced the discontinuation of the Sandbox NFT Staking Program and the termination of Polygon network support on the Binance NFT Marketplace. This decision is part of Binance’s ongoing efforts to enhance its product offerings on the NFT platform.
End of Sandbox NFT Staking Program
Binance made an official announcement on September 8th, revealing its decision to terminate the Sandbox NFT Staking Program by the end of the current month. The decision to end this program follows a thorough evaluation and consideration process, aligning with Binance’s goal to improve the overall user experience on the Binance NFT Marketplace.
As a result of this decision, users will no longer be able to stake their LAND NFTs that are hosted on the Polygon network to earn SAND rewards, starting from September 26th. The exchange will take the necessary steps to automatically unstake all LAND NFTs and return them to users’ accounts by the conclusion of this month.
Removal of Binance NFT Support on the Polygon Network
Furthermore, the exchange will cease its support for NFTs on the Polygon network, effective September 26th. Users should withdraw their NFTs associated with the Polygon network from the Binance NFT Marketplace before December 31st.
Importantly, Binance will entirely discontinue all activities related to purchasing, depositing, offering, or listing NFTs from the Polygon Network on the BNB NFT Marketplace.
Binance Accelerates Delisting of Cardano and Polygon Trading Pairs Following SEC and CFTC Lawsuits
In response to the SEC and CFTC lawsuits, Binance has taken swift action to remove Cardano (ADA) and Polygon (MATIC) spot, margin, and perpetual trading pairs. On August 17, the exchange made the decision to delist Cardano (ADA) and Polygon (MATIC) perpetual contracts paired with BUSD.
Furthermore, Binance continued its removal spree on September 1 by eliminating not only Cardano (ADA) and Polygon (MATIC) but also 37 other liquidity pools.
In summary, BNB is discontinuing the Sandbox NFT Staking Program and ending its support for NFTs on the Polygon network. BNB is making this strategic move to enhance the offerings and user experience on the BNB NFT Marketplace. It has provided users with specific actions and deadlines to manage their assets accordingly.
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