Binance stops the Stellar XLM staking rewards

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Binance stops the Stellar XLM staking rewards

Binance stops the Stellar XLM staking rewards.

Some time ago, Binance launched its staking platform with various staker / store cryptocurrency to earn tokens as payment for this staking.

Binance Staking started with 8 cryptocurrencies:

NEO to earn GAS.
Ontology (ONT) to earn NGO.
VET to receive VTHO.
Stellar (XLM).
Komodo (KMD).
Algorand (ALGO).
Qtum (QTUM).
Stratis (STRAT).

In a statement on its site, Binance announces that it will stop the staking offer for the crypto currency Stellar XLM.

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Binance indicates the reasons for Stellar XLM staking stopping:

“Stellar has ended its inflation program in its recent upgrade to version 12 of the Stellar protocol.
As such, Binance will no longer be able to support staking for XLM.”

Binance will distribute staking rewards earned from Stellar until the upgrade, which took place on 2019/10/28 16:00 (UTC).
Users will still receive the October XLM distribution in the first 5 days of November.
In the future, users will no longer receive Stellar rewards.

Binance Staking now offers 11 cryptocurrencies available in staking on its site:

NEO to earn GAS.
Ontology (ONT) to earn NGO.
VET to receive VTHO.
Stellar (XLM).
Komodo (KMD).
Algorand (ALGO).
Qtum (QTUM).
Stratis (STRAT).
Tron (TRX).
Elrond (ERD).
Fetch.ai (FET).
Harmony (ONE).

The cryptocurrency staking pays you for the stock of tokens that you have, by paying you with free tokens as payment according to the percentage of interest that the staking platform must pay you.
A form of passive income in cryptocurrency.

A crypto staking market that is expected to double with the arrival of Ethereum ETH staking.

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