Crypto.com said on Monday that it was dropping 15 coins from its Crypto Earn incentive program while the bear market persists.
Dogecoin (DOGE), Shiba Inu (SHIB), Tezos (XTZ), and FLOW are among the ones that have been removed, while the exchange has added Zilliqa (ZIL), Fantom (FTM), and NEAR to the list.
On the exchange, the reward rates are also changing for five other stablecoins, including TGBP, TAUD, TCAD, TUSD, and USDP (Paxos USD), which are digital currencies tied to the British Pound, Australian Dollar, Canadian Dollar, and US Dollar.
Other asset reward rates, such as those for Bitcoin, Ethereum, Polygon, Avalanche, and Solana, are unaltered.
Crypto.com didn’t mention the reason for the removal
The exchange did not explain in its release why it withdrew those specific tokens. Many individuals tweeted that it was “a shame” that rewards for Shiba Inu and Dogecoin were no longer a possibility in response to the revelation, which elicited a variety of responses.
Many claimed that because the interest rates on the exchange were so low, they were comparable to those of a traditional bank. “It’s not worth locking up any money!” a Bitcoin user stated. Many people were dismayed by the announcement, while others claimed that the exchange was moving in the right direction toward “long-term sustainability.”
Just two weeks after the business disclosed that it was letting go of 5% of its workforce owing to the “market slump,” Crypto.com announced adjustments to Crypto Earn.
Despite the disappointing news for their respective communities, the fierce rivalry between Dogecoin (DOGE) and Shiba Inu (SHIB) is still raging. Last week, both rivals had double-digit increases, with Shiba Inu (SHIB) even taking the top spot among the top 15 gainers.