1. BITBILIHome
  2. Article

Binance NFT ends Sandbox staking and drops Polygon network support

• 147 views

TL;DR Breakdown

  • Binance NFT announces a halt to The Sandbox NFT Staking Program, effective September 26, 2023.
  • Staking of LAND NFTs on the Polygon Network will be suspended, with an automatic unstaking process set to begin on September 27, 2023.
  • Binance NFT is ending its support for the Polygon Network, requiring users to complete all withdrawals by December 31, 2023.

Description

Binance NFT has announced changes that will reshape its platform’s offerings. Effective September 26, 2023, at 06:00 (UTC), the platform will terminate The Sandbox NFT Staking Program. This decision is part of a broader strategy to refine the Binance NFT Marketplace’s product offerings. The staking of LAND NFTs, currently hosted on the Polygon Network, will … Read more

Binance NFT has announced changes that will reshape its platform’s offerings. Effective September 26, 2023, at 06:00 (UTC), the platform will terminate The Sandbox NFT Staking Program. This decision is part of a broader strategy to refine the Binance NFT Marketplace’s product offerings.

The staking of LAND NFTs, currently hosted on the Polygon Network, will be suspended from the aforementioned date. Users who have staked their LAND NFTs can expect an automatic unstaking process to commence on September 27, 2023. 

By September 28, 2023, at 02:00 (UTC), these NFTs will be returned to the users’ Binance accounts. The final distribution of daily SAND rewards will also occur after this time. Tweets from Binance NFT confirmed these changes, urging users to read the platform’s guides or contact customer support for more information.

Binance NFT is also pulling the plug into its Polygon Network support. Starting from the same date and time as the staking program suspension, the platform will no longer facilitate activities related to NFTs on the Polygon Network. Users must complete their withdrawals on December 31, 2023, at 23:59 (UTC).

After this deadline, activities such as buying, depositing, offering, or listing NFTs from the Polygon Network will be restricted on the Binance NFT Marketplace. Existing listings connected to the Polygon Network will also be automatically nullified, and the related NFTs will be returned to users’ accounts by September 28, 2023, at 02:00 (UTC).

Binance NFT expressed regret for any inconvenience these changes may cause. For those seeking further clarification, the platform directed users to consult its customer support and online guides. Tweets from the company reiterated this advice, emphasizing the importance of adhering to the new guidelines and timelines.

The move is seen as a strategic pivot for Binance NFT as it seeks to optimize its product line-up. While the immediate impact on users is clear, the long-term implications for the platform and the broader NFT market remain to be seen.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.15:10

文章来源于互联网:Binance NFT ends Sandbox staking and drops Polygon network support

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年9月10日 04:01
Next 2023年9月10日 06:32

Related articles

  • ETF assets in Australia soar, breach $100 billion

    TL;DR Breakdown  Australian ETF industry hits record high, reaching A$150b ($102b) in H1 2023. Growth rate surpasses Betashares’ forecasts; the provider predicts these assets could hit A$160b by year end. About 70% of the industry’s growth was due to market appreciation; new money in H1 2023 totaled A$4.8b, slightly lower than H1 2022. Description A surge in the asset values of exchange-traded funds (ETFs) in Australia has taken the industry to new heights, breaching the $100 billion mark in the first half of this year. Defying earlier predictions and setting an all-time record, the ETF industry in the country has exhibited an explosive growth pace, dwarfing other local fund … Read more A surge in the asset values of exchange-traded funds (ETFs) in Australia has taken the industry to new heights, breaching the $100 billion mark in the first half of this year. Defying earlier predictions and setting an all-time record, the ETF industry in the country has exhibited an explosive growth pace, dwarfing other local fund products that have been battling substantial outflows. Accelerated growth amid market uncertainties Betashares,…

    Article 2023年7月24日

  • Debt rankings show U.S. and Singapore on top

    TL;DR Breakdown Singapore and the U.S. lead the world in sovereign debt per capita, according to U.N. data. Every American bears a governmental debt burden that is ten times higher than that of a Chinese citizen. Other nations with high sovereign debt per capita include Japan, Canada, Belgium, and several European countries. Description Headlines in the world of finance and economics have been dominated by the latest data on sovereign debt per capita across the globe. Notably, the United States and Singapore have taken the helm in a race no country aspires to lead. This startling revelation comes following a comprehensive examination of United Nations’ data, which underscored … Read more Headlines in the world of finance and economics have been dominated by the latest data on sovereign debt per capita across the globe. Notably, the United States and Singapore have taken the helm in a race no country aspires to lead. This startling revelation comes following a comprehensive examination of United Nations’ data, which underscored that the governmental debt burden borne by every American is staggeringly tenfold compared to…

    Article 2023年7月24日

  • Weekly Crypto Price Analysis: BTC, ETH, BNB, XRP, and ADA

    TL;DR Breakdown Weekly crypto price analysis reveals major coins have been trading in mixed reaction for the past week. Bitcoin (BTC) has been trading above $30k for most of the days in the past week. Ethereum price analysis has successfully broken above the 1,800 level for the past few days. Description Weekly crypto price analysis shows that most of the coins have been trading in mixed reaction, with bulls and bears being equally active in the market. For the whole of the week, the top coins have remained rangebound between their key support and resistance levels. The price of Bitcoin continues to struggle at just around … Read more Weekly crypto price analysis shows that most of the coins have been trading in mixed reaction, with bulls and bears being equally active in the market. For the whole of the week, the top coins have remained rangebound between their key support and resistance levels. The price of Bitcoin continues to struggle at just around $31,000.A tight consolidation close to the overhead resistance is encouraging, but short-term liquidations could happen if…

    Article 2023年7月10日

  • BRICS expansion plans face resistance from India and Brazil

    TL;DR Breakdown China is facing obstruction in its plans to increase the size of the BRICS membership. Proposed measures to mitigate concerns and shape the association’s future. Description India and Brazil, as BRICS member states, are obstructing China’s ambitions to swiftly expand the bloc, according to a recent report. Sources suggest that both nations have distinct reasons to express reservations about Beijing’s proposal to enhance the organization’s geopolitical influence, leading them to advocate for a more cautious approach to enlargement. Officials familiar with … Read more India and Brazil, as BRICS member states, are obstructing China’s ambitions to swiftly expand the bloc, according to a recent report. Sources suggest that both nations have distinct reasons to express reservations about Beijing’s proposal to enhance the organization’s geopolitical influence, leading them to advocate for a more cautious approach to enlargement. Officials familiar with the discussions on the future composition of the BRICS bloc of developing economies revealed that India and Brazil have voiced their objections during preparatory talks for the upcoming summit in Johannesburg. BRICS members to discuss expansion in its August…

    Article 2023年7月30日

  • Ripple CTO applauds Coinbase’s milestone in the legal clash with SEC

    TL;DR Breakdown Third Circuit Court of Appeals retains jurisdiction over Coinbase’s petition, a significant step in shedding light on the SEC’s secretive processes. Ripple CTO describes Coinbase’s legal battle as a rollercoaster, highlighting the ups and downs faced by the exchange. The court directs the SEC to establish a timetable for deciding Coinbase’s motion and grants four months for progress updates. Description In a recent tweet, Paul Grewal, the chief legal officer of Coinbase, provided an update on the ongoing legal dispute between the cryptocurrency exchange and the Securities and Exchange Commission (SEC). Grewal revealed that the Third Circuit Court of Appeals had decided to retain jurisdiction over Coinbase’s petition seeking basic rules in the crypto space. … Read more In a recent tweet, Paul Grewal, the chief legal officer of Coinbase, provided an update on the ongoing legal dispute between the cryptocurrency exchange and the Securities and Exchange Commission (SEC). Grewal revealed that the Third Circuit Court of Appeals had decided to retain jurisdiction over Coinbase’s petition seeking basic rules in the crypto space. Grewal hailed this move as…

    Article 2023年6月23日
TOP