Information and guidance for staking ETH in The Sandbox.
Traders who provide liquidity to the $SAND/ETH pair on UniSwap will be eligible to share a monthly allocation $SAND. Rewards are distributed pro-rata relative to a traders’ percentage of total liquidity over the course of a one month period. You will also earn NFTs for each month that you remain in the staking program.
Liquidity Providing Tokens (LP)
In order to stake liquidity within a program, you will need LP tokens, which stands for Liquidity Providing tokens. They represent the amount of tokens that you have locked within the liquidity pool. Below is a guide to getting your LP tokens. The guide below will help you with acquiring these.
2) Click on the SAND/ETH farm option to expand it. You'll now be able to see the management options for that farm.
3) The first thing you need to do is approve the LP tokens. Note that if your wallet is not currently on Ethereum Mainnet, you will be required to switch to that network.
You will need to sign an approval transaction in your wallet, which should give you a pop-up prompt to notify you of this.
4) Now you can click the Deposit button. A prompt will then appear asking you to enter the amount you wish to stake.
5) If you do not have any LP, you can click the Uniswap link, shown in the image above, to get redirected to the pool interface on Uniswap. From there you can Swap for SAND or ETH and add them to the pool in the desired quantity.
6) After locking in the amount of LP you want to stake, you will get a prompt from your wallet to sign the transaction.
After signing the final transaction in your wallet, you are now staked into the SAND/ETH pool.
If you are new to staking: Before investing into 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: You should never add a stake into any pools that are not officially announced by The Sandbox or available from your profile on The Sandbox's website.