CoinMarketCap Earn stands as the latest platform launched by the completely unbiased crypto data provider, CoinMarketCap (CMC). CMC Earn will pay users as they learn more about crypto assets. The first asset to be featured on this platform is Band Protocol, a cross-chain data oracle backed by Sequoia.
Paying People To Get Into Crypto
It’s been a growing trend as of late to incentivize users to take crypto-asset education. It was back in June of 2019 when Coinbase launched its own version of this, Coinbase Earn. This paid users in crypto should they engage in educational content. This turned out to be quite a successful venture. With CMC being one of the most commonly used crypto data providers, the Earn platform should bring crypto education to potentially millions of new people.
Sovaris Srinawakoon stands as the co-founder and CEO of Band Protocol, and gave a statement about the matter at large. He stated that CMC is most likely the top crypto data website in terms of traffic. Sovaris stated that newcomers all go there to check prices, so it’s important that CMC should stand as a leader in this sort of initiative for its users. For all of these reasons, Sovaris stated that Band Protocol decided to join up with CMC in this new offering.
A Key Partnership Made
He went further, explaining that education is one of the most important things when it comes to accelerating and mainstreaming the use of cryptocurrencies. As such, he stated that Band Protocol is eager to be part of CMC’s efforts to help users learn about this relatively new technology.
CMC Earn’s campaigns will each last for about eight days, with the prerequisite for participating within it that you already have a CMC account, as well.
As for Band Protocol itself, it stands as a means to enable smart contract applications, such as those used within the decentralized finance (DeFi) space to connect and utilize real-world external data. This allows for various smart contracts to use reliable, impartial and manipulation-resistant data when it comes to cryptocurrency price listings, forex listings, and the like
Some Dubious Intentions
CoinMarketCap had been acquired by Binance back in March of this year, and ever since, the crypto data provider has been showing some clear bias to its parent company. One of the more recent little stunts they pulled, was listing the Binance Coin (BNB) as the top-ranked DeFi coin in the market, beating the likes of Maker and Chainlink. As one would imagine, this sparked some criticism, and CMC was quick to fix the “mistake.”