The Sandbox is introducing a brand new staking program on Layer-2.
Following the announcement of our partnership with Polygon, The Sandbox workforce has been working tirelessly to finish the swap to a extra environment friendly Layer-2 ecosystem.
Learn extra about this partnership right here:
We at the moment are pleased to introduce step one into this route, introducing a brand new liquidity-providing program that exists on Polygon (Layer-2).
TLDR;
- The Sandbox is beginning to deploy a Layer-2 ecosystem on Polygon.
- We’ll check with the SAND on Polygon as mSAND in our ecosystem, however they’re equivalent.
- mSAND-MATIC staking to ease entry to mSAND on Polygon is simply step one.
- 300,000 mSAND shall be injected into the pool on a weekly foundation.
- A further enhance of 200,000 mSAND shall be added each week for the primary 4 weeks as an incentive for early adopters.
- SAND holders who present liquidity to the staking pool shall be eligible to share a month-to-month allocation of mSAND.
- This system opens on 16/12/2021–5PM UTC with a buffer interval the place customers can stake LP with none rewards but.
- mSAND rewards shall be loaded on 17/12/2021–5PM UTC and the distribution will begin.
SAND, the utility and governance token used all through The Sandbox’s metaverse, will now have staking choices accessible on a brand new layer. To be able to preserve a sturdy ecosystem, we wish to encourage our group to consider the long-term imaginative and prescient and advantages of The Sandbox on Polygon. Locking tokens inside staking applications assist that imaginative and prescient and creates a layer of belief between all members of the group whereas providing rewards to SAND holders who take part. You possibly can go inexperienced and earn SAND on the similar time.
This transfer to Polygon’s layer 2 will deliver customers many enhancements beginning with a dramatic lower within the quantity spent on fuel charges.
To be able to encourage customers to maneuver to Polygon, The Sandbox workforce is implementing a brand new mSAND/MATIC staking pool. SAND holders who present liquidity to the mSAND/MATIC pair on Quickswap shall be eligible to share a month-to-month allocation of $SAND.
Rewards are distributed pro-rata relative to a merchants’ proportion of whole liquidity over the course of a one-month interval.
If you wish to participate on this new staking program and earn SAND with the mSAND-MATIC pair on Polygon maintain studying. Beneath is a information to getting your LP tokens that will help you get began.
How To Stake In The mSAND-MATIC Pool
For the primary 4 weeks, The Sandbox will inject 500,000 mSAND to this system every week after which add 300,000 mSAND to the pool each week thereafter. Learn on to see how one can reap the advantages of this new staking program.
If the phrases LP, DEX and staking should not new to you, observe the following few steps to stake your funds.
1) Go to your profile at The Sandbox: https://www.sandbox.recreation/en/me/defi/
2) Click on the Approve button on mSAND/MATIC*
*Observe that in case your pockets isn’t presently on Polygon Mainnet, you’ll be required to change to that community. In the event you don’t have Polygon Mainnet setup, you’ll be prompted to signal a message so as to add it as a community.
3) Now you’ll be able to click on on this system and click on Deposit. A facet panel will open to allow you to enter the quantity you want to deposit.
4) In the event you shouldn’t have any LP, you’ll be able to click on the Quickswap hyperlink to get redirected to the pool interface on Quickswap. From there you’ll be able to swap for mSAND or MATIC and add them to the pool within the desired amount.
5) After locking within the quantity of LP you wish to stake, you’re going to get a immediate to signal the transaction.
After signing the ultimate transaction in your pockets, you have got now staked into the mSAND/MATIC program!
