SAND is the utility and governance token used throughout The Sandbox's metaverse. In order to maintain a robust ecosystem, we want to encourage our community to think about the long-term vision and benefits of The Sandbox. Locking tokens within staking programs supports that vision and creates a layer of trust between all members of the community.
The first option we introduced was a (Layer 1) Ethereum liquidity providing program, which has since been discontinued. We now have liquidity providing programs on Polygon (Layer 2).
More opportunities will become available in the future, to further increase your potential as SAND owner - giving you a chance to prove your trust, and to earn even more rewards.
To enhance user security and compliance, we have implemented KYC verification for our staking process. Our goal is to ensure that our users' accounts are verified before they can participate in staking or claim their earnings. Unverified users can still withdraw their SAND, but only verified users can deposit new SAND and claim their weekly rewards.
Staking Dashboard
You will find the staking farms and their information in your profile at The Sandbox,under the Staking tab.
From this dashboard, you will find information about the currently available staking options. As well as the following information for each staking option:
Tokens required: The tokens you will need to stake into this program.
Total value locked: The value of all liquidity locked by members within the program.
My Rewards 7D: Your estimated 7-day reward.
Weekly Reward: The amount of rewards distributed within the program.
Current Rewards: What rewards are ready for collection.
Monitoring Your Activity
1) Go to your profile at The Sandbox. Go to the Staking tab.
2) Click on the farm you want to find information about.
3) Click on the History button.
You will now be able to see and monitor information for the selected farm, such as reviewing previous deposits, the withdrawals you have made, and the rewards you have claimed.
Staking Programs
1. All SAND Owners
As long as no local restrictions apply, anyone who owns SAND can stake for passive rewards with our standard staking program. Visit the Staking Dashboard to get started.
2. LAND Owners
A dedicated SAND staking program was released in the third quarter of 2022 for LAND Owners, so that they can enjoy their own dedicated rewards. See our LAND Owners channel in Discord for news and updates.
SAND Staking on Polygon for LAND Owners
How Much SAND Can LAND Owners Stake?
LAND Owners, as of February 2023, can stake 2,000 SAND per LAND they hold in the wallet that is connected to their account at The Sandbox. This means that the more LAND you hold, the more SAND you can stake. For example:
Number of LANDs held
Maximum SAND you can stake
1
2,000
2
4,000
3
6,000
4
8,000
5
10,000
If the amount of LAND you are holding changes, then your contribution to the pool will automatically update to reflect this.
For example, if you acquire an additional LAND, you will be able to stake a further 2,000 SAND into the staking pool if you wish.
And if you sell or move your LAND, your share of the pool will reduce if it is more than your currently-held number of LAND allows.
When this staking program first launched, users could stake 500 SAND per LAND that they hold. This was increased to 1,000 SAND. Then it was increased again to 2,000 SAND.
The more LAND you own, the greater your yield from staking will be.
In February 2022, The Sandbox introduced gasless SAND staking on Polygon through a service called Biconomy. This program is open to everyone on the Layer 2 Polygon network, where 500,000 SAND in rewards will be added each week for the first four weeks.
Apart from any fees that it might initially cost to bridge SAND from the Ethereum network to the Polygon network, staking SAND in this program is gasless, provided that you haven't used up your monthly quota of gasless transactions.
This staking program is, in particular, a great opportunity for those who are new to staking, before considering getting involved in some of the more "heavier" staking programs.
SAND holders who provide liquidity to the program will be eligible to share a monthly allocation of 500,000 SAND.
Rewards are distributed pro-rata, relative to a trader’s percentage of total liquidity over the course of a one-week period.
You can claim your rewards from this pool once per week (or every 7 days).
Before You Begin
Your Wallet: Select the Polygon Network
Some wallets allow you to set up multiple blockchain networks. Your wallet must be switched to the Polygon Mainnet network in order to stake on Polygon's Layer 2 network.
If you do not currently hold any SAND, you can bridge your SAND from Ethereum to Polygon using a swap service. There is an easy-to-use bridging service integrated on The Sandbox website.
Through Biconomy, The Sandbox offers different ways to go through gas fees related to staking.
Gasless: The Sandbox offers you 10 free gasless transactions per month. This means that you can stake more SAND or withdraw from your existing pool without having to pay additional fees.
Forward: This new feature will have the possibility to use your SAND to pay your gas fees in lieu of MATIC.
Classic: You still have the option to pay your gas fees using MATIC
The Gasless feature is enabled by default, and you can enable the Forward feature directly in your chain settings.
Video Guide
Here a video guide showing how to stake SAND at The Sandbox, which was produced by PandaPops, a livestreamer and team member at The Sandbox.
It includes automatic captions for the hard of hearing or non-English speakers.
Locate the SAND staking option and press the Approve button.
Step 3
Sign the transaction confirmation that should appear. If gasless is enabled, this transaction will go through Biconomy, our trust forwarder.
Step 4
Once approved, you will see the option to deposit. Click the Deposit button to access the deposit panel.
Step 5
Choose the amount of SAND to deposit. Confirm this and then sign the transaction confirmation in your wallet. Again, if Gasless or Forward is enabled, the transaction will go through Biconomy.
Under the gasless toggle, you will see your remaining gasless transactions for the month.
Remember that you can claim your rewards from this pool once every 7 days.
Withdrawing (Unstaking SAND)
Withdrawing, or unstaking, is the act of removing your stake from a pool. You might want to do this if you wish to pause your staking income or if you'd like to withdraw your SAND from the pool to use it elsewhere, such as on purchasing more LAND.
You do not have to withdraw from the staking pool in order to claim your rewards. For information on claiming your rewards without withdrawing your stake, see Claiming SAND Rewards from Staking below.
Step 1
Go to your profile at The Sandbox, and select the Staking tab. Then click on the farm you want to manage.
Step 2
Click the Withdraw button. Withdrawing will also automatically claim the rewards on your behalf.
For SAND/ETH - If you are not on Ethereum Mainnet, you will be required to switch to that network.
For SAND/MATIC and mSAND on Biconomy - If you are not on Polygon Mainnet, you will be required to switch to that network.
Step 3
Sign the transaction in your wallet's prompt.
Once you have signed the transaction in your wallet, your liquidity providing tokens (LP) will be withdrawn. On top of that, any accumulated rewards will also be collected.
Claiming SAND Rewards from Staking
How To Claim Your Staking Rewards
You can claim your rewards that you have accumulated from staking without having to withdraw your stake first.
Claiming rewards from Play&Earn is a different process from claiming rewards for staking, which is done only at the Staking Dashboard.
Step 1
Go to your profile at The Sandbox. Then select the Staking tab. And click on the farm you want to manage.
Step 2
Click the Claim button.
Step 3
Sign the transaction in your wallet's pop-up prompt.
After you have signed the transaction prompt in your wallet, your accumulated rewards will now be collected.
