The Sandbox has announced the launch of single token staking of its native currency SAND on the Polygon network. This new staking mechanic comes days after The Sandbox held an extensive airdrop campaign after introducing an Ethereum-Polygon bridge for SAND.
Until recently, players and investors who wanted to stake their SAND holdings could only do this in Ethereum/SAND farming pools. However, now that SAND is available on Polygon, the team behind the game has decided to offer additional staking opportunities. This staking option will only be available for mSAND, the Polygon version of the token.
The Sandbox partnered up with Polygon in June last year, in an effort to limit the environmental impact of the platform, and lower transaction costs. What’s more, in order to promote this shift, The Sandbox launched an incentive program, airdropping SAND tokens to gamers who provided liquidity to the mSAND/MATIC pool. The new single token staking pool is part of that effort as well.
How to stake and earn SAND with The Sandbox
In order to take part in single token staking on The Sandbox, users will first have to bridge their SAND tokens to the Polygon blockchain. The Sandbox has integrated a bridging service into the game itself, which you can find here. Importantly, you need to have the Polygon RPC added to your METAMASK wallet. For help with adding Polygon to Metamask, check out this guide.
Once you have connected to the SAND/mSAND bridge, you need to select the amount of tokens you want to move to Polygon. Accept the prompts sent to your Metamask wallet, and your tokens will be bridged. Keep in mind it might take up to 20 to 30 minutes for the transaction to be approved.
After successfully receiving mSAND tokens in your Polygon wallet, it is time to start staking.
- Visit the DeFi section of The Sandbox platform. There you’ll find the single token staking page.
- Before you can put tokens into the staking pool, you’ll need to approve this action through your Metamask wallet.
- After staking is approved, select the amount of mSAND you’d like to stake and commit it to the pool. This requires another transaction.
Importantly, in order to further incentivize mSAND staking, The Sandbox has partnered with Biconomy to offer several gasless transactions to each user every month. This essentially means you can start earning mSAND staking rewards right away, without having to pay high gas fees for transactions.
DappRadar will continue monitoring The Sandbox as the virtual world keeps pushing and introducing new features for its users. To learn more about The Sandbox, its native token SAND, and land plots in the virtual world, check out the links below. Additionally, you can follow DappRadar on Twitter to find the latest DeFi and metaverse news first.
