Binance has announced a new staking program dedicated to a high-volume metaverse coin. According to the official announcement, private staking pools are opening for NFTs of a popular metaverse project.
Binance announces new staking program for this metaverse coin
The leading exchange launched the NFT staking program with The Sandbox (SAND) project in the metaverse market. According to the announcement, users “will be able to stake LAND NFTs on the Polygon network for daily SAND rewards via the Sandbox staking program.”
Let’s say that staking transactions started today. The new Binance-supported program will be open to all users until July 5. Users who stake NFT for more than 14 days will be eligible to share the prize pool of 20,000 SAND.
Details of participation and awards in the official announcement are as follows:
- Binance will not charge any gas fees for all LAND staking and staking requests through the Staking Program.
- Daily SAND rewards will be subject to real-time APR displayed on the Sandbox NFT Staking Program page.
- Users will not need to own SAND tokens to stake their LAND NFT in the program.
- While LAND NFTs are available on both Ethereum and Polygon networks, Binance NFT’s The Sandbox NFT Staking Program will only support LAND NFTs held on the Polygon network.
Prize up to 20,000 SAND for first participants
According to the announcement, users who keep their NFT locked during the two-week period will be eligible to share the prize pool. They will also have one entry to the final unlocked prize pool for every LAND NFT staked more than 14 days in the Staking Program during the promotional period. The final dynamic prize pool unlocked will be based on the total number of eligible entries during the Promotion Period.
Dynamic prize pool table; Eligible entries and rewards:
Sandbox Land’s plan for 2023 looks promising
Sandbox recently published a blog highlighting the LAND Owner’s achievements in Q1 2023 and their plans for the remaining quarters of 2023. In the blog published on April 8, Sandbox mentioned that more than 115,850 LANDs have been printed by more than 23,500 LAND owners to date.
LAND owners also have access to customize their lands with their own logo, including 1×1 ones. However, more than 6,000 LANDs have been updated so far, according to the blog.
For the remainder of this year, Sandbox mentions that the first allowed LAND owners will be able to broadcast their experience on their LAND during Q2. In addition, by the end of Q3, all creators will have access to the ability for LAND owners to launch their experience directly to anyone on the map. cryptocoin.com We have mentioned that Binance has recently listed the NFT platform Blur.
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