Polygon Network NFTs Bid Farewell on Binance
Binance, the world's largest cryptocurrency exchange, recently made an official announcement regarding significant changes to its NFT offerings.
As of this month’s end, Binance will discontinue its Sandbox NFT Staking Program. Furthermore, Polygon network support will no longer be available on the Binance NFT Marketplace, which also includes the discontinuation of Polygon-based LAND NFT staking.
This decision has been carefully considered by Binance, with a focus on enhancing the overall product offerings within the Binance NFT Marketplace. Beginning September 26, users can no longer stake their LAND NFTs hosted on the Polygon Network to earn SAND rewards. Binance will automatically unstake all LAND NFTs and return them to users’ accounts by the close of the month.
Additionally, Binance will cease its support for NFTs on the Polygon network starting September 26. Users are encouraged to withdraw their Polygon-based NFTs from the Binance NFT Marketplace by December 31.
It’s important to note that all activities related to buying, depositing, offering, or listing NFTs from the Polygon Network on Binance NFT Marketplace will be discontinued.
Furthermore, Binance’s recent decisions to delist certain cryptocurrency assets, including Cardano (ADA) and Polygon (MATIC) perpetual contracts and the removal of liquidity pools, have been influenced by regulatory actions such as lawsuits from the SEC and CFTC. These changes took place on August 17 and September 1, respectively, in response to evolving regulatory considerations.