The Sandbox added support for a high APR staking pool reserved for owners of LAND.
“This is $SAND staking - but this particular pool is reserved for LAND Owners.”
The exclusive pool requires players to hold at least one LAND. LAND can be purchased on OpenSea or from The Sandbox’s future LAND sales. The Sandbox automatically detects users’ LAND and applies the optimal LAND multiplier for their staked $SAND.
The program is available on the Polygon network with a cap of 500 SAND per LAND. The amount of $SAND earned scales with the amount of LAND in users' wallets. The SAND earnings are paid out once every week.
Non-LAND owners can also earn rewards by staking on SAND and SAND/MATIC pools.
The Sandbox has reserved 3M SAND tokens for this program. It will distribute 250K $SAND every week for 12 weeks starting September 22. It has also capped rewards for SAND and SAND-MANTIC staking to 250K and 75K SAND respectively.
As a result, the floor price for LAND surged by roughly 50% soon after the announcement. The cheapest Sandbox LAND currently costs 1.55 ETH, up by 3.1% within the last 24 hours.
