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Binance NFT Marketplace Launches The Sandbox NFT Staking Program | Binance Support
This is a general announcement. Products and services referred to here may not be available in your region.
Fellow Binancians,
To engage The Sandbox (SAND) community, Binance NFT is pleased to introduce The Sandbox NFT Staking Program.
Highlights of The Sandbox NFT Staking Program
Users can stake LAND NFTs that are held on the Polygon network to earn daily The Sandbox (SAND) rewards via The Sandbox NFT Staking Program.
The Sandbox NFT Staking Program will be open to all users from 2023-04-28 09:00 (UTC) to 2023-07-05 23:59 (UTC) as a start. More updates will be announced separately on Binance NFT’s Telegram, Twitter, Discord and Instagram.
Only Flexible Term subscriptions are available in The Sandbox NFT Staking Program.
Users are not required to hold SAND tokens to stake their LAND NFTs in the program.
Daily SAND rewards are subject to the real-time APR displayed on The Sandbox NFT Staking Program page.
Binance NFT will not charge any gas fees for all LAND NFT staking and unstaking requests via The Sandbox NFT Staking Program.
While LAND NFTs are available on both Ethereum and Polygon networks, please note that Binance NFT’s The Sandbox NFT Staking Program only supports LAND NFTs that are held on the Polygon network.
Users who hold LAND NFTs on the Ethereum network can participate in the program by bridging their LAND NFTs to the Polygon network, before depositing the LAND NFTs to Binance. For a step-by-step guide, please refer to the instructions on The Sandbox website. More information on The Sandbox NFT Staking Program is also available in the FAQ.
Promotion: Join The Sandbox NFT Staking Program to Share Up to 20,000 SAND in Rewards
Promotion Period: 2023-04-28 09:00 (UTC) to 2023-05-25 23:59 (UTC)
Users who stake their LAND NFTs in The Sandbox NFT Staking Program for more than 14 days during the promotion period will qualify to share a dynamic prize pool of up to 20,000 SAND in token vouchers, as per the table below.
Users will receive one entry to the final prize pool unlocked for every LAND NFT that is staked at The Sandbox NFT Staking Program for more than 14 days during the promotion period. The final dynamic prize pool unlocked depends on the total number of eligible entries during the Promotion Period.
All qualified users will share the corresponding rewards pool unlocked based on the number of eligible entries by each qualified user, as a proportion of the total number of eligible entries by all qualified users.
Rewards Calculation:
The reward for each qualified user = (Number of eligible entries by each qualified user / Total number of eligible entries held by all qualified users) * Total rewards pool unlocked
Dynamic Rewards Pool:
Stay tuned to Binance NFT’s Telegram, Twitter, Discord and Instagram for the latest news and updates on The Sandbox NFT Staking Program!
Guides and Related Materials:
Frequently Asked Questions on The Sandbox NFT Staking Program
How to Deposit NFT on Binance
How to Find Your NFT Contract Address
Terms & Conditions:
The Sandbox NFT Staking Program will be subject to local restrictions, where applicable.
Only users who have completed identity verification will be eligible to participate in The Sandbox NFT Staking Program. Users who have not completed identity verification, illegally bulk registered account holders and users from restricted countries/regions are not allowed to participate. For more, please refer to Binance Terms of Use, Binance NFT Marketplace Terms of Conditions, and the Binance NFT Staking Terms.
Binance NFT’s The Sandbox NFT Staking Program only supports LAND NFTs that are held on the Polygon network. Users who hold LAND NFTs on the Ethereum network can participate in the program by bridging their LAND NFTs to the Polygon network.
Daily SAND rewards will be automatically distributed to users’ Spot wallets between 00:00 and 08:00 (UTC) on the next day after users stake eligible LAND NFTs in The Sandbox NFT Staking Program.
APR is adjusted daily and the estimated rewards may differ from the actual rewards generated. The specific APR is subject to the page display on the day.
Users can find their NFTs via Binance NFT Marketplace > My NFTs > Collected. Details on users’ NFT transactions may also be found via Binance NFT > My NFTs > History.
Users can choose to redeem their LAND NFTs from The Sandbox NFT Staking Program in advance. After choosing early redemption, the staked LAND NFTs will be returned to users’ accounts within 48 hours.
Promotion Details:
Binance will take a snapshot of the number of LAND NFTs that are successfully staked in The Sandbox NFT Staking Program daily during the promotion period.
Rewards will be distributed within three weeks after the promotion ends. Users will be able to log in and redeem their token voucher rewards via Account > Reward Center.
The voucher redemption period for all token voucher rewards is set at 14 days from the day of distribution. Learn how to redeem a voucher.
Binance reserves the right to disqualify any participants showing signs of fraudulent behavior immediately.
Binance reserves the right to disqualify trades that are deemed to be illegally bulk registered accounts.
Binance reserves the right to cancel or amend the Program or Program rules at its sole discretion.
Where any discrepancy arises between the translated versions and the original English version, the English version shall prevail.
Thanks for your support!
Binance Team
2023-04-28
Trade on-the-go with Binance’s crypto trading app (iOS/Android)
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Binance reserves the right in its sole discretion to amend or cancel this announcement at any time and for any reasons without prior notice.
Risk Warning: Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance is not liable for any losses you may incur. Daily Rewards and APR are an estimate of rewards you will earn in cryptocurrency over the selected timeframe. It does not display the actual or predicted returns/yield in any fiat currency. Daily Rewards and APR are adjusted daily and the estimated rewards may differ from the actual rewards generated. Not financial advice. For more information, see our Terms of Use and Risk Warning.
