The Sandbox, a virtual gaming world, has announced the introduction of $SAND staking on Polygon. This new staking system is compatible with the $SAND token alone.
It will not require that users pair their $SAND with other tokens to stake it. It is also important to note that users do not worry about gas fees when staking.
We are introducing a new staking mechanism that works ONLY with $SAND…
🔹 Open to ALL – on @0xPolygon
🔹 Gasless – through @biconomy
🔹 500,000 in SAND rewards per week!
Read more 👇https://t.co/HXovJUuN5W
— The Sandbox (@TheSandboxGame) February 11, 2022
What to Know about the New Staking Mechanism
$SAND token holders can now directly stake their mSAND tokens without any addition or pairing with another token. Suffice to mention that the program is open to every gamer on Polygon Network. The new staking mechanism supports gasless transactions using Biconomy.
The Sandbox has also introduced a rewarding system to encourage the adoption of this system. For the first four weeks of the launch, about 500,000 mSAND will be available as rewards each week. Users can only claim their mSAND rewards once every week.
The staking program has opened on February 11 at 8:00 pm UTC, and the rewards will start on the same date but at 9:00 pm UTC. The Sandbox will release new announcements on the mSAND staking subsequently.
Steps to Bridge SAND to Polygon
- Visit your profile page on the Sandbox platform and click to open the bridge widget.
- Sign in to your account with your wallet details and select the amount to bridge to Polygon.
- Next, confirm your transaction and wait for ten to twenty minutes to allow your mSAND to get on Polygon.
Steps to Stake your mSAND
- Visit your DeFi page on the Sandbox and look for mSAND staking.
- Click the Approve button to open a transaction page where you can sign in. if “Gasless” is enabled, the transaction will proceed through Biconomy. If you have not set up your Polygon network, it will prompt you to complete the process first.
- After approval of the transaction, click the “Deposit” button to access the deposit page.
- Enter your deposit amount and click the button to sign your transaction. The transaction will get approved if “Gasless” is enabled in your account.
That is all it takes to stake your mSAND. You can then wait to enjoy your mSAND rewards. You can claim the rewards once every week. To claim your earnings, visit the same page where you staked your mSAND and click the “Claim” button to sign your transaction and get your rewards.