Binance-owned crypto market data provider CoinMarketCap has launched “Earn” — a Coinbase Earn-like education rewards program.
CoinMarketCap Earn allows users to watch supported blockchain projects’ educational videos, take a quiz, and earn rewards, but only “up to a limit of $10” worth of each project’s tokens.
The first supported project on CoinMarketCap Earn is Band Protocol, a cross-chain data oracle provider that is backed by Binance and Sequoia Capital. A total of $160,000 worth of BAND tokens are on offer for the earn program.
A CoinMarketCap spokesperson told The Block that the program is expected to host two projects per month. Each project campaign will last for eight days, with a certain amount of tokens on offer.
Users from several countries, including the U.S. and mainland China, are not allowed to participate in CoinMarketCap Earn.
Crypto exchange Coinbase also operates an “Earn” program and is available for U.S. residents. The exchange’s rewards program currently supports six crypto assets — XLM, ZEC, BAT, ZRX, EOS and DAI.
When asked why Binance didn’t directly launch the Earn program, the CoinMarketCap spokesperson said the two companies are “separate entities.” Binance acquired CoinMarketCap earlier this year, as The Block first broke the news. The deal was worth as much as $400 million, sources told The Block at the time.
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