Binance recently announced that they are going to discontinue their support for Steller as staking.
Binance only dropping Stellar from staking, and Stellar Trading is working fine and going to continue.
Recent Binance Tweet
#Binance Will Discontinue Support For Stellar (XLM) Stakinghttps://t.co/08enMcWmzT pic.twitter.com/wBv0cYyv7J
— Binance (@binance) October 29, 2019
The discontinue support for stellar is mainly due to its inflation program, which will no longer be supported in their recent upgrade of Stellar Protocol v12. This can create certain problems for the old and new version; hence, binance decided to drop the staking rewards for it.
Binance Mentioned,
Binance will distribute staking rewards earned from Stellar earned up until the time of the upgrade, which occurred at 2019/10/28 4:00 PM (UTC). Users will still receive the October XLM distribution in the first 5 days of November. Moving forward, users will no longer receive any Stellar rewards.
Binance, about one month ago, launched its staking platform. Staking platform can raise funds by staking and locking funds to get certain rewards.
Since after the launch, binance introduced 12 coins for their staking platform and dropping stellar. Though Binance is looking forward to offering 11 other coins including, NEO, ONT, VEN, KMD, ALGO, QTUM, STRAT, FETCH, ONE, ERD, TRX.
Read the full list of supported staking coins on binance.
