Introducing SAND staking on Polygon

The Sandbox is introducing a new staking mechanism that works only with SAND!

The Sandbox is introducing a new staking mechanism with SAND, and SAND only!

With this new staking option, there’s no need to pair your SAND with anything else to stake it! You don’t even need to bother with gas fees. Read on to learn everything you need to know about this new staking mechanism and how it will affect previous programs.

TLDR;

• You can now stake mSAND tokens directly
• The program is open to everyone on Polygon Network
• We support gasless transactions through Biconomy
• 500,000 mSAND rewards per week for the first 4 weeks
• You can claim your mSAND earnings once per week
• Opens on Feb 11, 2022 at 8:00 PM UTC
• Rewards start on Feb 11, 2022 at 9:00 PM UTC
• There will be new announcements regarding mSAND staking in the near future, so stay tuned!

SAND, the utility and governance token used throughout The Sandbox’s metaverse, will now have a SAND-only staking option. With the airdrop that was received on Polygon a few weeks ago, it’s the perfect opportunity to stake your mSAND. And while we greatly reduced gas fees through the use of Polygon, this new staking mechanism is completely gasless through Biconomy. Simpler than ever.

To give you a little welcome package when moving to Polygon and to SAND-only staking, the program starts with a 500,000 mSAND reward distributed each week for the first 4 weeks.(*)

(*) Rewards are distributed pro-rata relative to a percentage of total value locked over the course of a one-week period.

Staking contract address:

https://polygonscan.com/address/0xA6E383bdA26E4c52A3A3a3463552c42494669aBd

If you want to take part in this new staking program and earn mSAND, keep reading.

How to bridge SAND to Polygon

• Head over to https://sandbox.game/en/me/profile
• Open the bridge widget

• Sign-in with your wallet

• Select the amount you want to bridge to Polygon

• Confirm the transaction
• Now you have to wait for about 10–20 minutes before your mSAND arrives on Polygon

How to stake mSAND

• Head over to https://www.sandbox.game/en/me/defi/
• mSAND staking will appear first

• First, Approve the staking(*). This will open a transaction for you to sign. If gasless is enabled, this transaction will go through Biconomy, our trust forwarder.

(*) If your Polygon network is not set up yet, this will prompt you to add it first. You can learn more about that here.

• Once approved, you will see the option to Deposit. You can click it to access the deposit panel.

• Enter the amount you want to deposit, click the button and sign the transaction. Again, if gasless is enabled, the transaction will go through Biconomy. (*)

(*) Under the gasless toggle, you will see your remaining gasless transactions for the month.

• Voilà! Your mSAND is staked. You can now enjoy mSAND rewards. Remember that claiming can only happen once every 7 days!

How to get your earnings

• On the same staking interface https://sandbox.game/en/me/defi
• Just click the Claim button and sign the transaction.

• Note this can only happen once per week, so after claiming your earnings, a timer will appear.

What’s Next?

More staking mechanisms will become available in the future, to further increase your potential as SAND owner in The Sandbox metaverse — giving you a chance to prove your trust and to earn even more rewards. Please stay tuned for further announcements.

Note on Previous Staking Programs

With the introduction of the new gasless, SAND-only program available, SAND/ETH staking will be discontinued after the end of February, 2022 (this was the last reward campaign). However, mSAND/MATIC will continue on Polygon with no changes.

• If you are new to staking: Before investing in any staking pools, you should first do some research (DYOR) to make sure that staking is right for you and that you understand all aspects of it, including impermanent loss.
• For your security: Always make sure you are on https://sandbox.game before proceeding to any staking action within The Sandbox.