Binance, the world’s largest crypto exchange, announced Tuesday that it has removed support for Stellar (XLM) staking as a result of the project discontinuing its inflation program following its upgrade to Stellar Protocol Version 12.
According to the announcement, Binance will distribute staking rewards earned from Stellar earned up until the time of the upgrade, which occurred at 4:00 PM (UTC) on October 28.
Binance previously launched staking support for Stellar back in June and even conducted a bonus airdrop of 9,500,000 XLM.
With the loss of XLM, Binance now offers staking support for 11 cryptocurrencies, including NEO (NEO/GAS), Ontology (ONT/ONG), Vechain (VEN/VTHO), Komodo (KMD), Algorand (ALGO), Qtum (QTUM) and Stratis (STRAT).
US investors looking to trade XLM commission-free can earn $25 in free BTC and help support us by signing up for the Voyager app through this link (or use code: SLUDGE25).
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Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.