CoinMarketCap launches 'Earn' — a Coinbase-like education rewards program

Cryptocurrency • August 12, 2020, 4:40AM EDT
UPDATED: August 12, 2020, 4:47AM EDT
Partner offers
The Block may may earn a commission if you use our partner offers, at no extra cost to you.

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.  

AUTHOR

Yogita Khatri profile picture Yogita Khatri

Yogita Khatri is a senior reporter at The Block and the author of The Funding newsletter. As our longest-serving editorial member, Yogita has been instrumental in breaking numerous stories, exclusives and scoops. With over 3,000 articles to her name, Yogita is The Block's most-published and most-read author of all time. Before joining The Block, Yogita wrote for CoinDesk and The Economic Times. You can reach her at [email protected] or follow her latest updates on X at @Yogita_Khatri5.

See More
Connect on

WHO WE ARE

The Block is a news provider that strives to be the first and final word on digital assets news, research, and data.

+ Follow us on Google News
Connect with the block on

More by Yogita Khatri