SAND (TheSandbox) can be staking
SAND (TheSandbox, hereafter SAND) is a virtual currency (cryptographic asset) that can be used in the blockchain game “The Sandbox” that uses the Metaverse space.
From 2021, the operating company of The Sandbox announced that it will raise $ 93 million (about 10.6 billion yen) from investment company SoftBank VF (VF = Vision Fund) etc. on November 2, 2021. It is a company with a huge presence in the metaverse industry that is attracting attention. When this announcement was announced, the price of SAND temporarily soared.
Such SAND is one of the NFT stocks that are attracting attention from the perspectives of both the NFT area and the Metaverse area these days.
SAND is a token available within The Sandbox
Microsoft’s “Minecraft” is a game similar to The Sandbox.
You can buy and sell in-game land in Minecraft, and you can also use SAND to trade land with NFT characteristics called “LAND” in The Sandbox.
Originally, SAND used a consensus algorithm called PoW (Proof of Work).
SAND is published by ERC-20, which is an ETH standard, and uses Proof of Stake as a consensus algorithm like ETH 2.0.
Therefore, staking using SAND is possible in The Sandbox.
SAND staking brand pair
When staking in The Sandbox, SAND staking is possible with the following brands.
- SAND / ETH
- SAND / Polygon
In the future, it will be possible to stake the LAND (SAND / LAND) pair of The Sandbox.
Advantages and disadvantages of staking of SAND
The advantages and disadvantages of SAND staking are as follows.
Benefits of SAND staking:
- Steak is possible even from a small amount of SAND
- High yield (APY)
- High reliability of operation by the community
In addition, The Sandbox is very well known among BCG (blockchain games), and the network management activities by the community are also very active. In addition, the operating company can also stake in an environment that is extremely reliable compared to other brands, such as raising funds from the Softbank Vision Fund.
Also, SAND yields are relatively high compared to other stakeable stocks.
| Brand | Average yield |
| SAND | About 4% to 10% |
| AVAX | About 8% -12% |
| DOT | About 10% -12% |
On the other hand, keep in mind that the higher the yield (APR), the higher the risk of fluctuations in staking assets.
Disadvantages of SAND staking:
- Only liquidity farming is possible (in The Sandbox)
- Fluctuation risk of staking assets
Possible staking within The Sandbox is liquid staking that requires the same amount of pairs of stocks as SAND. For example, when staking with a SAND / ETH pair, you need the same amount of ETH as 1 SAND. Therefore, it is necessary to prepare both brands.
The future of SAND is very high and prices may continue to rise.
Therefore, we recommend staking SAND as soon as possible.
SAND ‘s APY
The average staking yield (APY: Annual Pear Yield) for SAND is around 8% to 15%.
for Binance’s regular staking are as follows.
With Binance’s regular staking, yields vary by lock period (10 days, 30 days, 60 days, 90 days). The minimum staking amount is 1 SAND (about 400 yen).
The Sandbox liquidity staking yield is 47% for SAND / ETH.
There are two ways to stake SAND
There are two ways to stake a SAND.
- Liquidity staking in The Sandbox
- Steak on exchanges such as Binance
Liquidity staking in The Sandbox (for advanced to intermediate)
When staking in The Sandbox, choose between the following two types of liquid staking:
Liquid staking using Uniswap and Polygon networks, respectively, both of which can be stakes within The Sandbox.
Steak on exchanges such as Binance (for beginners)
- Advantages: Steak is possible even for a small amount, there is no need to select a validator, you can select a course for each period
- Disadvantages: There is a minimum staking amount, and the yield (APY) is relatively lower than doing it yourself
Binance also offer staking services.
With the staking function of the exchange, if you have an account on the exchange and a staking brand, you can easily start staking without any other remittance work.
Exchange staking is a mechanism for indirectly staking through the exchange. Therefore, there is no need to choose a validator as the exchange will manage the staking.
In addition, there are disadvantages such as the minimum staking is set and the yield is low compared to the method of staking by yourself.
If you are new to staking, we recommend staking functions such as Binance.
Liquid staking method in The Sandbox (for advanced to intermediate users)
Here’s how to stake in The Sandbox:
- Buy SAND
- Send SAND to Metamask
- Log in to The Sandbox
- Swap half of SAND to ETH / Polygon
- Steak to LP
Buy SAND
First, buy SAND on Binance.
Binance is a worldwide coinexchange..
Send SAND to Metamask
Once you have purchased SAND, send it to Metamask.
Metamask is a blockchain wallet that anyone can use for free. You can easily use it by installing the Chrome extension.
Please refer to this article for details on how to register Metamask .
The procedure for sending money to Metamask is as follows.
- Log in to Metamask and copy the destination address
- Activate the remittance function of the virtual currency exchange of the remittance source and enter the destination address
- Apply for remittance
It will arrive about 5 minutes after you apply for the remittance.
Please be careful when entering the remittance address. This is because if you send money with the wrong remittance address, the remittance amount may not be returned. So be sure to send a small amount to Metamask first to make sure your destination address is correct.
Also, if you are worried about copying and pasting the address, it is recommended to display the QR code of the destination address from the Metamask setting and read it with the application.
Log in to The Sandbox
The Sandbox with Metamask that sent the SAND .
Open The Sandbox and select Metamask in the wallet you want to connect to. If you approve the login on the Metamask side, you are logged in to The Sandbox.
Swap half of SAND to ETH / Polygon
After logging in to The Sandbox, tap “Staking” in the menu bar and select the pair you want to stake.
Once you have selected a pair, Swap half of your SAND to the pair’s brand. To Swap, tap Quickswap under Add liquidity and perform Swap on Uniswap.
Stake to LP
Once Swap is complete and the holdings of SAND and paired stocks are equal, all you have to do is stake to LP.
Enter the amount you want to stake, tap Add liquidity, and you’re done.
How to stake SAND in Binance (for beginners)
Staking in Binance is much easier than LP staking in The Sandbox.
In this article, we will introduce “regular staking” that makes it easy to start staking.
All you need is a Binance account and SAND.
The procedure for staking SAND with Binance is as follows.
- Buy BTC and convert BTC to SAND
- Use Binance’s regular staking
Buy BTC and Convert BTC to SAND
Convert is a function to exchange one brand for another in Binance’s wallet (similar to Swap used for LP staking).
Start the conversion function from the wallet of the application, set the transfer source “BTC” and transfer destination “SAND”, and execute the conversion.
Use Binance’s regular staking
Once the SAND is ready, all you have to do is stake.
- Tap the bottom of the menu bar to launch the wallet
- Tap “Revenue” in the upper right
- Enter SAND in the search window next to “Flexible Savings”
- Enter the staking amount and start staking
The minimum deposit for Binance’s regular staking is 1 SAND (about 400 yen).
How to check Binance’s regular staking rewards
You can check your staking rewards on the Binanc app.
When you open the regular staking page, you will see the cumulative rewards so far.
Summary
Finally, I will summarize the main points of this article.
- If you want to stake SAND individually, The Sandbox is recommended
- Binance is recommended for exchange staking
- If you want to buy staking for staking, DMM Bitcoin with no remittance fee is recommended
The price of SAND may rise due to multiple updates planned in the future, such as the spread of The Sandbox and the release of staking by the SAND / LAND pair. So, buy SAND and spin staking now to earn long-term profits.
This site introduces staking methods for brands other than SAND, so please refer to them.
