1. BITBILIHome
  2. Article

Binance NFT ends Sandbox staking and drops Polygon network support

• 231 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

  • Terraform Labs faces an uphill battle amid accusations against its former CEO

    TL;DR Breakdown Terraform Labs has continued to face an uphill task of getting back up as the accusations against its former CEO persist. The firm continues to carve a new path to success. Description Terraform Labs, the blockchain-focused company behind Terra (LUNA), finds itself facing significant challenges as it navigates through frequent accusations against its former CEO, Do Kwon. According to the newly appointed interim CEO, Chris Amani, these persistent allegations have been hindering the progress of various projects in development, presenting a “big hill to climb” for the … Read more Terraform Labs, the blockchain-focused company behind Terra (LUNA), finds itself facing significant challenges as it navigates through frequent accusations against its former CEO, Do Kwon. According to the newly appointed interim CEO, Chris Amani, these persistent allegations have been hindering the progress of various projects in development, presenting a “big hill to climb” for the company. Terraform Labs CEO complains about the setback The recent discussion about Terra’s future occurred during a Twitter Space event titled “A Terra Community Talk,” where Amani and several Terra employees delved into…

    Article 2023年7月24日

  • US indicts Moroccan man for creating fake OpenSea platform in $450,000 crypto and NFT theft

    TL;DR Breakdown Moroccan national, Soufiane Oulahyane, indicted for orchestrating a $450,000 crypto and NFT heist by creating a deceptive replica of the OpenSea marketplace. Oulahyane allegedly used a fraudulent website and paid advertisements to trick unsuspecting victims into providing their login credentials, enabling him to gain unauthorized access to their accounts. The stolen digital assets included a highly sought-after Bored Ape NFT and resulted in charges of wire fraud, unauthorized access device usage, and aggravated identity theft against Oulahyane, who awaits potential extradition to the United States. Description Soufiane Oulahyane, a Moroccan individual, has been indicted by the United States Attorney for the Southern District of New York on charges related to a significant cryptocurrency and non-fungible token (NFT) heist. The indictment alleges that Oulahyane orchestrated a complex scheme by creating a deceptive replica of the renowned OpenSea digital marketplace, ultimately stealing digital … Read more Soufiane Oulahyane, a Moroccan individual, has been indicted by the United States Attorney for the Southern District of New York on charges related to a significant cryptocurrency and non-fungible token (NFT) heist. The indictment…

    Article 2023年7月12日

  • Are ledger hardware wallets secure? A comprehensive analysis

    TL;DR Breakdown Crypto market analysts claim that there is a backdoor in Ledger hardware wallets.  Ledger has vehemently denied the presence of any backdoor in its hardware wallets.  Ledger’s hardware wallets are designed with multiple layers of security measures to safeguard users’ funds effectively. In the world of crypto, security is paramount, especially the hardware wallets. Investors and enthusiasts alike seek reliable solutions to safeguard their digital assets. Ledger, a prominent name in the industry, offers hardware wallets designed to provide robust protection against unauthorized access and potential vulnerabilities.  However, concerns have been raised regarding the security of Ledger hardware wallets. Here is a thorough analysis to address these concerns and shed light on the overall security of Ledger wallets. Contents hide 1 Hardware Wallets – debunking ledger backdoor myth 2 The importance of trust – Security measures implemented by Ledger 2.1 Secure element technology 2.2 PIN protection 2.3 Seed phrase backup 2.4 Firmware verification 3 Addressing vulnerabilities and risks 3.1 Beware of phishing attempts 3.2 Secure storage 3.3 Regular updates 4 Bottom Line Hardware Wallets – debunking ledger backdoor…

    Article 2023年5月17日

  • Crypto community divided: BlackRock ETF’s impact on DeFi remains uncertain

    TL;DR Breakdown BlackRock’s spot Bitcoin ETF has the potential to revolutionize the crypto market If approved. The majority of the crypto community is pleased by the news, but some mistrust persists. Some experts believe the SEC could approve the ETF to allow more conventional financial institutions to enter the market. While US regulators are filing lawsuits against crypto platforms for alleged violations of securities laws, BlackRock, the world’s largest asset manager with over US$10 trillion under management, has filed to launch the first publicly traded spot Bitcoin exchange-traded fund (ETF) in the US. After weeks of gloom and a huge governmental onslaught, the crypto market has received positive news. If BlackRock’s proposed Bitcoin ETF receives the go-light, it could completely transform the industry. A game-changing Blackrock ETF BlackRock, the largest US crypto exchange with $9.5 trillion in assets under management in the first quarter of 2023, is collaborating with Coinbase (COIN). The ETF will leverage Coinbase Custody and rely on spot market data from the exchange for pricing, with BNY Mellon as the cash custodian. In August of last year,…

    Article 2023年6月19日

  • China’s global EV influence showcased during Elon Musk’s visit

    TL;DR Breakdown Elon Musk’s visit to Beijing highlights China’s crucial role in the global electric vehicle (EV) market. China contributes to 50% of Tesla’s total vehicle sales and 20% of its production capabilities. Amid US-China tensions, business leaders like Musk and JPMorgan CEO Jamie Dimon stress the importance of political stability for business operations. The Chinese EV market poses challenges with ending subsidies on new EV purchases and rising interest rates. As the sun set over Beijing, the corridors of power hummed with anticipation. Elon Musk, the audacious CEO of Tesla, was in town. His mission was to reinforce his commitment to the world’s most populous nation and its burgeoning electric vehicle (EV) market. Musk’s visit was more than just a series of high-profile meetings; it highlighted China’s central role in the global EV landscape. China – A key player in Tesla’s global aspirations China is not just another tick on Tesla’s global expansion checklist. It’s the hub of Tesla’s ambitions. Musk’s foray into the Chinese market underscores the significance of this Asian giant in the EV industry. China contributes…

    Article 2023年6月4日
TOP