Small TH-camr here as well. Been doing a lot of crypto staking research and came across your channel. Keep this awesome content coming. You'll be over 5k in no time! Subscribed!
This is a very informative video bro! I staked the first day with no tutorial and took me over 2 hours to figure everything out. Dang I wish I would have had this video yesterday... thanks 100%
Fuck ETH's mainnet fees... they're absurd, ridiculous. I'll wait for 2.0 update in order to stake my SAND with lesser fees... WTF. Great video by the way
This is really interesting, I actually don't think it ends up worth it unless you're doing like 3k USD. the APR is going to stabilize significantly and the fees to move across are like $150 USD + a claiming fee each time you wish to claim/unstake. I know things like binance give you pathetic rates but it allows you to play with so much less cash and still make money without the hastle of fees. I worry alot of people see the percentage return and think they can double or triple their money which really just isn't true. Maybe i'm still just too risk adverse, i've been caught with these hype projects that suddenly fall off and lead to you not even having enough liquidity to withdraw your money. Either way, video was detailed and well presented - thank you!
You make some great points. I’m better at not touching these LP tokens because of the fees 🤣 Also just a good diverse way to add to the defi ecosystem. It’s also a little more advanced and sometimes the rewards are better when you go places others won’t go. On My SAND/ETH Staking video (I mention how each month providers got a NFT. SANDbox hasn’t been that great about it. 2 rewards in 4 months staking.
Thanks for the vid, exactly the information I was looking for. I didn't fully see the information about 1-1 ratio on the Sandbox site. But I found the background music quite annoying and it also stops and then starts again like a broken record, in case you wanna reconsider :)
New sub. Thank you. I’ve been looking for someone who makes adding liquidity as you did. Took me about two days but finally was able to do it. You’re the best!!!!
I appreciate your gentleness and thoroughness, man. This can be stressful lol.. Not sure if it's worth it. I only have 69 sand rn.. I'll just keep in on then exchange. My dream is too own a a piece or two of land one day..
Good video. I believe it could be a good way to gain mSAND if you plan to buy things on the SANDBOX. Should you want to take profits in fiat terms you would have the ETH gas costs again and it depends how the value of SAND and MATIC develop.
Thank you for this video! I am currently exploring ways to stake or use liquidity pools for most of my crypto. Since I cannot stake Sand on Binance anymore, your video gave me a great idea for an alternative:)
To make this much cheaper to start, you really only need to bridge ETH to Polygon. Do this all in one transaction. Then find a MATIC faucet to get your first MATIC transfer covered. From there you can do all the other conversions from the ETH on MATIC network to MATIC and SAND. No need to buy all this first on ERC-20 and kill your fiat. Even cheaper than that is sending your ETH to an exchange that supports MATIC if you have one and don't mind a bit of KYC (usually that fee is on the cheaper side) then trade ETH it to MATIC there and then withdraw MATIC to your MM Wallet. Most exchanges cost 1 MATC fee to withdraw which is very cheap. Then with that MATIC do all your SAND purchases.
LOVE your instruction. I am not trying to be rude, but the background music is very distracting to me. Would have got your information in half the time with the music if I had to guess.
Great video. New sub from me and good luck with the 1000 subs you will nail it. Question - if I stake say 200 Sand do I need to also get 200 Matic to do the LP?
That's a great idea MZ. I should have thought about that. Haven't messed around with bridging much so the smart thing would have been to convert a small amount of eth to matic then bridge and convert the majority. Not sure if you saw in the beginning I had no Matic so I had to get some to cover those fees. Also could have transferred some MATIC from a dex that supports matic transfer. Which there lies a problem. Most exchanges are only allowing transfer of matic to eth network.
How do you convert the sand back to ETH? Since it’s on the polygon network do I have to convert to WETH using uniswap? Or can I convert it to ETH directly on uniswap?
Fees fees fees. I wonder if we actually make any profit after paying so much gas fees. I would rather buy and stake SAND directly on Binance even if they give less interest. I would certainly not waste my hard earned money on gas fees.
i got like 150 Sand in bianance and i was thinking moving in sandbox for staking but with fees and all doesnt worth it i guess.Would you even bothering in staking with that amount of sand? im just looking for long term and throwing in like 50 euro every month no matter that price of sand.What would you do any advice ?
You can do it! Haha, I do plan to make a quick 5min version of this video just showing each step, but having general knowledge with Metamask is helpful.
@@LifeAsDane I hate the ETH Gas fees which are so high. I might just hold on to this project and wait until they implement a cheaper network with much lower gas fees. I tried to swap 50 Matic on the ETH network to MATIC Polygon and it costs me $35. Holly cow...I canceled the swap! LOL
can you please make a video on claiming msand rewards from the sand/matic stalking? There is currently no video on this on the internet and alot of people are curious.
I need some help, when im at 16:28 and try to click approve, it asks to approve using the UNI-V2 why does it do that? How can I change this EDIT: It's asking me to give permission to a different asset (UNI-V2), how do I change this.
Sorry for my question. I'm still trying to make my head around mSAND. Instead of doing the bridge can't you just send MATIC directly to MetaMask, and buy mSAND with MATIC on a DEX? I don't have ETH and I don't want to use the ETH network.
After adding liquidity I went back to the Sandbox website, but I accidentally used all matic when adding liquidity so I didn't have enough to deposit. After that, the LP was gone and I wasn't able to try again. When that happens, what happens to the SAND and Matic that were added to the liquidity pool?
i did everything right. The liquidity pool is created. When I try to deposit, I approve, the transaction is successful but then it pops up an error "your allowance is still less than the amount you want to stake" i even removed and recreated the liquidity pool. how do I fix?
Hey guys i kept getting error message saying "your allowance is still less than the amount you want to stake" while approving the staking but it did charge me some eth. Any help? Oh I'm using chrome btw with venly wallet
As far as I know you can send MATIC directly from exchange but make sure you choose polygon network on your exchange and not ERC20. SAND is actually ERC 20 token so needs to be send via eth mainnet from the exchange to metamask and then bridged to polygon mainet. Let me know if it worked! Try small amount first.
I just staked 500 sand and followed your video! Very great explanation! Do u rhink staking is worth it if i only put in 500 sand? Also how do i see how much i earned on daily?
A noob question: SAND and MATIC have very different growth potential. SAND may double in a month.... But MATIC may take a few months.. Based on above assumption, will i get affected by "impermanent loss"... Thus I might miss out on any growth in SAND token if that happens... Am I thinking correct
So whatever the mSAND amount you have staked when unstaked you’d get that current value of MATiC and SANd back so… you could suffer a loss or gain. This shouldn’t matter as much if both coins perform well and you plan to stake for a long time. Hope that’s not confusing.
Unfortunately I am a novice at all of this and I was able to follow along and at one point my bridging of Sand and as working but now when I try to bridge sand I get an error message that reads there seems to be some issues calling RPC 😔😔😔😔 Somehow I’ve messed this up royally.
1. ensure the network has been added correctly. You can use Chainlist to add custom network/ tokens 2. ensure you have enough native tokens from that network to pay for gas
Hi, I tried connecting Metamask to Sandbox, but when I click on approve button on the Sandbox staking page, it says "Error loading contracts". I have 2MATIC in my metamask, on Polygon network, but Sandbox website just cannot read or show that 2 MATIC balance..... What's happening?
Hey I have a question. When you decide to stop staking and pull everything out do you have to split the msand/matic up to be able to sell it? Also does everything need to be reconverted to the ethereum netowrk to be able to get it back in to non-crypto currency? thanks
Yes, you have to reverse the process when you unstake. But you should be able to send your layer 2 assets to a desk that supports that token and make sure you send to their poly address given for that token.
@@LifeAsDane great video! I would love for a video on how to withdraw. I know it's reverse of what you did but it's quite a lot of steps and a step by step guide again would be awesome! Thank you so mcuh again
Blake! Yes, you and I both. I recently messed with my recording software to capture the pc sounds. Big mistake. I had the Sandbox Game minimized in background while recording and it unfortunately picked it all up and wasn't a track that I could just remove :(
Hey Great Dane, i hope you can help me (neither the polygon discord nor the polygon reddit did) I did not knew that i need matic for staking. So now all i have is mSand. I tried to swap my mSand to Matic now, but it is not working (not on uniswap, not on polygon.technology, etc.) Do you have any idea, on how to swap mSand to Matic?
So basically its like $100+ in transfer fees and basically only worth it if your moving like $5,000 - $10,000 cause if you move only $1000 its more than 10% in fees, & this is only to put it in. there will be more fees taking it back out later. which makes it not worth it so its only good for rich people. better to just buy the coins, hold them on the exchange and cash out later. so you only have purchase and sell fees
I can’t tell people how to invest but I think you make accurate points. There is a lot of money in mSAND-MATIC pool right now. My $4k invested is .0043% my earnings have already generated about 11% return on my investment but that’s cause I started day 1. Follow up videos to show the earnings
Thanks a lot for your video! I have 2 questions though: 1) where can we find the APY for staking it? I tried to google it and no one is mentioning it, I don't know why, this is the first thing we want to know when we stake 2) depending on 1),do we know how the APY should evolve based on the total amount staked? Thanks!!
@@omgurheadsgone thanks! But the thing is that usual staking rewards model have inverted yield curve based on the total quantity staked. So this 140% can drop quickly to for example 50% as more and more people stake. For example ETH and SOL have communicated this info for their rewards. It allows to project ourselves on our averaged yield but here they don't communicate it
If we have MATIC on a centralized exchange, can we just take it out as polygon network straight to MetaMask? As a newbie, my head is spinning a bit lol
The exchange needs to have ability to send direct to the Matic mainnet. Not all exchanges can. If the exchange does you’ll be able to see when going to send.
Is the value of mSand simply 1Matic+1Sand? If we were to ever want to convert it back to USDT, would it then be swapping it from mSand to USDT on metamask's Polygon network?
I just seen that over half liquidity providers in projects like this lose money overall due to impermanant loss. I realize the percentages are good but can you please share how much your original investment has lost percent wise in each of the 2 tokens on Sand and eth since poly staking is relatively new. Thanks
You may not like this answer. My original $700 sand/ETH pair shows a value of $5k. My original $4k mSAND/Matic pair shows $5k. These 2 pools combined have generated 310 SAND. Obviously the ETH staking has been in place for months. Easily has covered the investment even if my “impermanent loss” was at 100% loss.
@@LifeAsDane That's great news. Was just doing research before getting into it. Mabye the data I got from google came from lower value apr projects. Thanks for sharing
Can you talk about what your claim strategy is? I followed your video and staked both eth and matic pairs a few months ago. All I've seen is my deposit amount drop. I haven't claimed anything yet due to cost. How to I counter the impermanent loss I'm seeing? Should I just unstake and get out right now? Appreciate your input and thanks for the videos!
As you know. I'm not a financial advisor and these are my own opinions. First ask yourself what your short/long term goals are? Do you NEED the liquidity right now? If not why even look at the deposit amount? It's the same thing as having your tokens sitting in a wallet or exchange. The market goes up and down. Personally my strategy on withdrawing the deposit amount would of course be to wait for the market for both SAND and ETH/MATIC to be higher than when I deposited. BUT some people might be ok with a loss on the deposits for tax purposes. I'm a long-term investor and since you have to withdraw your deposits and earning in full (you can't select how much) I prefer to let my gains just accrue. That is the point of staking is it not? Staking for a short period could make sense if you were using high value amounts and looking for quick earning gains on newly released staking pairs. If someone just staked in MATIC/SAND for the first 2weeks and then exited they'd have made a good move.
Hi Dane, this is an excellent video. I've gotten to the deposit LP stage and it keeps confirming my transaction but not adding my Liquidity tokens? Keeps on eating my Matic ;-(
I’ll post a follow up in a couple weeks. As more liquidity enters the pool it should start to stabilize. The 1st day went from 1000% to 450%! Now it’s in the 300’s. I earned close to 18mSAND in 36hrs.
i wasted $60 on fees only to run out of fees to swap.. i didn't wanna buy directly on the site cause id end up with $200 less but it might be worth it due to the hasle
I just realized how risky staking this way man! LP is very volatile and sand and matic do not perform at the same pace. I would assume after 2 months of running my stake, i would just probably only breakeven considering the so called "impermanent" losses i would suffer.
A break even in 2months would be amazing… All I will say is most investments are risky and ALL crypto investing is super risky. A house has the risk of burning down, a stock tied to a business could file bankruptcy. This type of investing is not for everyone and impermanent loss is not something I personally worry about as the value is tied to the respective tokens whether I have them staked or just held in a wallet/dex
@@LifeAsDane Hi Dane, can you explain a bit more about that? Impermanent loss? When you commit the same amout of MATIC and SAND and swap to LP, what happens then? What you stake you get rewards in SAND? But when you unstake what happens then. You transfer your LP back to quickswap and "unwrap" again to get MATIC and SAND again right? Are you going to get the same amout od MATIC again and more SAND ? Sorry, very confusing how it works...
I have the UNI-V2 token following all the steps, but it doesn't show as LP token in the Sandbox Dashboard while trying to deposit. Anyone else with this issue?
Best time? Well it’s poly network so gas isn’t as harsh. Claim when you want. Restate when you want. I personally wouldn’t spend the time on reinvesting until I had certain size bags. Like 100 SAND plus. No right or wrong answer. Just remember all those TX fees play into your total return.
Thanks a lot for this "tutorial". I already had something staked on layer 1 and I wanted to also partecipate to this layer 2 staking. I followed all the steps but I have an issue that doesn't make me finish the process. I have the LP tokens on my metamask polygon network and when I press MAX and try to deposit them on the sandbox website, first it makes me approve the transaction (I have 37 Matic on my balance so should have more than enough) than 2 pop up messages appear: transaction succesfull, and right after that one: Your allowance is still less than the amount you want to stake. What does it mean? Even tried to select a little lower amount of LP tokens to deposit but still the same issue. Really hope you or someone can help, thanks in advance.
@@celsiusnetworkita2926 when say at a time you mean you can keep adding in increments of 100? So my LP is about 5000. I would have to do it 50 times? I’m assuming I can do it from the pool and not have crest 50 pools. Does it say anything in thier documentation? Thanks so much for your help!
@@Jbizzy360 yeah exactly, I asked the support and they told me to do it like this. It’s gonna take you around 10/15 minutes to do it 50 times but at least gas fees on layer 2 are close to 0
SAND holders who provide liquidity to the mSAND/MATIC pair on Quickswap will be eligible to share a monthly allocation of $SAND. Can somebody explain what does this mean exactly ?
I’m pretty sure binance .com allows this now but not binance USA. I stopped using binance after the US specific site came out. Went through verification took weeks then a month later it asked for verification all over again. I’m not tying up assets on an exchange that locks you out from transfers and exchanging when coins have major movement. Unethical and illegal in my eyes.
Process is just reversed. I’ll be making a video soon. I’ve been waiting as when you “claim” you’re claiming all rewards. Unless something was changed from their ETH pool. So I’ve been wanting to wait until I hit 100 mSAND. VERY SOON!
When trying to move my 81 matic coins from ether chain to polygon with web wallet, it's giving me this error when trying to bridge: Provider does not have a request or send method to use. I have the eth about 219 usd. what am i doing wrong, i can't seem to do the conversion.... I have 6 msand and 3.95 matic on polygon network and 0.07 eth (220usd) and 0.286 sand (1.28usd) and 81.8 matic on eth network. I know it's nothing just trying to try to stake something.
I tried to bridge my SAND to Matic just now. So i clicked on "bridge SAND" icon on the bottom right corner of the official sand website. When the polygon bridge box comes up, It says my SAND balance is at ZERO from the Ethereum mainnet. This is false because i checked my metamask and there is a balance. Have you ever encountered this problem?
Thank You so much 😊 it was really a helpful video for us, but sir could you please tell us the minimal amount of usd that we need to have if we want to stake the SAND and the ETH? (all over the fee/money we have to pay). Hope you read this:) thankyou 🤗
What do I do if I don't already have ETH in my metamask? Can I send MATIC to the OX address that comes up as I'm setting up the Polygon mainnet wallet? (Im getting the same message of insufficient funds in order to approve the Polygon wallet) And...do you know if its possible to stake SAND somehow using the Ledger Nano X wallet? So far, I'm not seeing any info about hooking Ledger up to Sandbox.
You have to get ETH into your MetaMask. I go the Coinbase route. Fiat to ETH then transfer. You can send Matic but it’s going to go to your Ethereum mainnet by default unless the exchange allows you to send to via polygon. Yes you can stake with the ledger. You setup the same but have to approve transactions on the hardware wallet
@@LifeAsDane Oh ok so Ill transfer ETH 1st and then go the route you tried. And I thought the process to stake DOT was complicated. Trying to stake SAND is making my head explode LOL. Thanks for your help and the video.
When you get the bridging part, i do not see my mSAND... i followed your video exactly and purchased some matic. I can see it in my metamask wallet but I am lost as to what i do next to get sand staked... any help would be cool.
you had SAND already that you bridged to Matic Mainnet, and the transaction is confirmed on Polygon Transactions? The bridging takes around 10-15min to fully deposit. The bridged amount will show as SAND in MetaMask until it’s fully deposited/staked. Just remember the bridge happen for matic and sand. Then you go to sandbox page to approve, deposit and supply liquidity
@@LifeAsDane yes i see the matic in my metamask when i use the ethereum mainnet. Sorry im extremely new to this stuff. As of right now im stuck with like 2000$ in matic. When i click bridge it wont show i own anything bridgeable lol if thst makes sense
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Small TH-camr here as well. Been doing a lot of crypto staking research and came across your channel. Keep this awesome content coming. You'll be over 5k in no time! Subscribed!
This is a very informative video bro! I staked the first day with no tutorial and took me over 2 hours to figure everything out. Dang I wish I would have had this video yesterday... thanks 100%
Smart! Welcome to the club. I think we’ve made a good decision 😉
facts
@@LifeAsDane when you unstake are u stuck with MSAND do u have to seperate them to use them in the future
@@Piwnqn107 i have the same question
Very helpful! Just finished staking my sand on the polygon network thanks to you! I look forward to the coming years!
How much minimum sand can i stake?
lol and in meantime since you posted this video, SAND + MATIC increased ! 100% great move and nice video
Fuck ETH's mainnet fees... they're absurd, ridiculous. I'll wait for 2.0 update in order to stake my SAND with lesser fees... WTF. Great video by the way
This is really interesting,
I actually don't think it ends up worth it unless you're doing like 3k USD. the APR is going to stabilize significantly and the fees to move across are like $150 USD + a claiming fee each time you wish to claim/unstake. I know things like binance give you pathetic rates but it allows you to play with so much less cash and still make money without the hastle of fees. I worry alot of people see the percentage return and think they can double or triple their money which really just isn't true. Maybe i'm still just too risk adverse, i've been caught with these hype projects that suddenly fall off and lead to you not even having enough liquidity to withdraw your money.
Either way, video was detailed and well presented - thank you!
You make some great points. I’m better at not touching these LP tokens because of the fees 🤣 Also just a good diverse way to add to the defi ecosystem. It’s also a little more advanced and sometimes the rewards are better when you go places others won’t go. On My SAND/ETH Staking video (I mention how each month providers got a NFT. SANDbox hasn’t been that great about it. 2 rewards in 4 months staking.
Fees for claim/unstake should be in the cents since it's being done on the Polygon network, but I do agree with you on the initial cost and budget.
@@LifeAsDane where you get the nft ?
Thanks for the vid, exactly the information I was looking for. I didn't fully see the information about 1-1 ratio on the Sandbox site. But I found the background music quite annoying and it also stops and then starts again like a broken record, in case you wanna reconsider :)
New sub. Thank you. I’ve been looking for someone who makes adding liquidity as you did. Took me about two days but finally was able to do it. You’re the best!!!!
Thanks for the sub!
Very helpful and thorough video! Thank you for doing this and you have a new sub!
Thank you
I had been waiting on a vid from you to do this. Thank you. Good luck on your 1k subscribers
So much to figure out step by step , indeed was so much helpful which otherwise wasnt mentioned anywhere online
I appreciate your gentleness and thoroughness, man. This can be stressful lol.. Not sure if it's worth it. I only have 69 sand rn.. I'll just keep in on then exchange. My dream is too own a a piece or two of land one day..
Love this video. Can you show us how to withdrawal? I want to know how to go from mSand back to Sand. Thanks, happy holidays!
Ethereum needs to partner up with Harmony ONE. These multiple gas fees are outrageous!
Thanks for the tutorial
FYI Swapping in Metamask is more expensive than using a Dex, they have worse liquidity and charge an additional fee
Thank you very much for this tutorial! Finally everything works 🤝🤝🤝
Good video. I believe it could be a good way to gain mSAND if you plan to buy things on the SANDBOX. Should you want to take profits in fiat terms you would have the ETH gas costs again and it depends how the value of SAND and MATIC develop.
Those fees made me tear up and it's not my $$ETH.. dirty gas fees. in the end it's awesome to see sand is on poly and staking.
Congrats on hitting 1k!
🙏👊🏽
what about a video on how to unstake and split the tokens back to individual tokens ?
Thank you for this video! I am currently exploring ways to stake or use liquidity pools for most of my crypto. Since I cannot stake Sand on Binance anymore, your video gave me a great idea for an alternative:)
Glad it was helpful!
To make this much cheaper to start, you really only need to bridge ETH to Polygon. Do this all in one transaction. Then find a MATIC faucet to get your first MATIC transfer covered. From there you can do all the other conversions from the ETH on MATIC network to MATIC and SAND. No need to buy all this first on ERC-20 and kill your fiat. Even cheaper than that is sending your ETH to an exchange that supports MATIC if you have one and don't mind a bit of KYC (usually that fee is on the cheaper side) then trade ETH it to MATIC there and then withdraw MATIC to your MM Wallet. Most exchanges cost 1 MATC fee to withdraw which is very cheap. Then with that MATIC do all your SAND purchases.
you made this so much easier for me, thanks!
LOVE your instruction. I am not trying to be rude, but the background music is very distracting to me. Would have got your information in half the time with the music if I had to guess.
Why do we need a 1 to 1 ratio of the token pair (mSand to Matic) being staked?
Great video. New sub from me and good luck with the 1000 subs you will nail it.
Question - if I stake say 200 Sand do I need to also get 200 Matic to do the LP?
Thank you. No use fiat values. So that’s more like 500 Matic @ $2 and 200 SAND @ $5.
Thanks so much for your video...very helpful. Just subscribed to your channel....Best of Luck! Cheers!
Hi Dane, great video! Im thinking why not bridge ETH over to Polygon Network first then swap it to MATIC, the fee might be lower
That's a great idea MZ. I should have thought about that. Haven't messed around with bridging much so the smart thing would have been to convert a small amount of eth to matic then bridge and convert the majority. Not sure if you saw in the beginning I had no Matic so I had to get some to cover those fees. Also could have transferred some MATIC from a dex that supports matic transfer. Which there lies a problem. Most exchanges are only allowing transfer of matic to eth network.
@@LifeAsDane Hi Dane, you are so right! Haha I ended up with no MATIC to swap my ETH with my proposed approach
Yes I was going to say the polygon fees would be much cheaper.
Good vid mate
How do you convert the sand back to ETH? Since it’s on the polygon network do I have to convert to WETH using uniswap? Or can I convert it to ETH directly on uniswap?
Fees fees fees. I wonder if we actually make any profit after paying so much gas fees. I would rather buy and stake SAND directly on Binance even if they give less interest. I would certainly not waste my hard earned money on gas fees.
i got like 150 Sand in bianance and i was thinking moving in sandbox for staking but with fees and all doesnt worth it i guess.Would you even bothering in staking with that amount of sand? im just looking for long term and throwing in like 50 euro every month no matter that price of sand.What would you do any advice ?
Thank you for sharing but OMG I’m so lost…:)
You can do it! Haha, I do plan to make a quick 5min version of this video just showing each step, but having general knowledge with Metamask is helpful.
@@LifeAsDane I hate the ETH Gas fees which are so high. I might just hold on to this project and wait until they implement a cheaper network with much lower gas fees. I tried to swap 50 Matic on the ETH network to MATIC Polygon and it costs me $35. Holly cow...I canceled the swap! LOL
Hey really appreciate the video, but please how do you split your LP tokens back to Sand and Matic tokens?
Brazil thanks yu man!!
thanks for the vid bro!
Thank you for the video. How do you unstake and unpair your mSand-Matic LP tokens?
can you please make a video on claiming msand rewards from the sand/matic stalking? There is currently no video on this on the internet and alot of people are curious.
thank you very much really helpful
I need some help, when im at 16:28 and try to click approve, it asks to approve using the UNI-V2 why does it do that? How can I change this
EDIT: It's asking me to give permission to a different asset (UNI-V2), how do I change this.
Completely felt that hate after the 4th or 5th time you said "another fee" lol
Hate is a strong word but yes haha.
Sorry for my question. I'm still trying to make my head around mSAND. Instead of doing the bridge can't you just send MATIC directly to MetaMask, and buy mSAND with MATIC on a DEX? I don't have ETH and I don't want to use the ETH network.
After adding liquidity I went back to the Sandbox website, but I accidentally used all matic when adding liquidity so I didn't have enough to deposit. After that, the LP was gone and I wasn't able to try again. When that happens, what happens to the SAND and Matic that were added to the liquidity pool?
Turn off the background music. It would be easier to hear you and pay attention.
i did everything right. The liquidity pool is created. When I try to deposit, I approve, the transaction is successful but then it pops up an error "your allowance is still less than the amount you want to stake" i even removed and recreated the liquidity pool. how do I fix?
I won’t take credit. A comment above stated he had to change to 100 max tokens
Hey guys i kept getting error message saying "your allowance is still less than the amount you want to stake" while approving the staking but it did charge me some eth. Any help? Oh I'm using chrome btw with venly wallet
Can i send SAND & MATIC straight from exchange into Metamask polygon wallet?
I need to research this more. I don’t believe you can with SAND, but MATIC may have a cheaper way using BNB.
As far as I know you can send MATIC directly from exchange but make sure you choose polygon network on your exchange and not ERC20.
SAND is actually ERC 20 token so needs to be send via eth mainnet from the exchange to metamask and then bridged to polygon mainet. Let me know if it worked! Try small amount first.
Yes u can. But I have my phone and chrome not sync. Having trouble. Make sure your are sync. And be patient. I am not and it’s taking me longer smh
I just staked 500 sand and followed your video! Very great explanation! Do u rhink staking is worth it if i only put in 500 sand? Also how do i see how much i earned on daily?
I Staked 400... I sure hope so :)
@@LifeAsDane awesome! Excited to see some updated vids u got a new sub
I was planning to store about the same amount of SAND. Do you by now know how much you earn per day or week?? Let me know Hk :)
@@LifeAsDane how do you calculate impermanent loss? I don't see anything on my acc
i did it after 3 days lol this was the hardest LP i have done so far
any tips
How many % can you earn staking sand matic?
thanks bro, this wouldve been helluva challenge to get thru without your vid. i jus hope they roll out compound feature soon
You can compound it yourself by just cashing out your rewarded sand once or twice a day and adding it to your stake.
Why is there not more information about the risks specially for that kind of liquidity staking & mining? How can I reduce the risk to lose?
i want to avoid the SAND Bridge Gas fee From Eth to MATIC, whats the best way to buy Sand in the POLY network?
How much minimum sand can i stake?
A noob question: SAND and MATIC have very different growth potential. SAND may double in a month.... But MATIC may take a few months..
Based on above assumption, will i get affected by "impermanent loss"... Thus I might miss out on any growth in SAND token if that happens...
Am I thinking correct
So whatever the mSAND amount you have staked when unstaked you’d get that current value of MATiC and SANd back so… you could suffer a loss or gain. This shouldn’t matter as much if both coins perform well and you plan to stake for a long time. Hope that’s not confusing.
I think if you are trying to buy sell on dips (day trade) etc.. you’re better off not staking.
Unfortunately I am a novice at all of this and I was able to follow along and at one point my bridging of Sand and as working but now when I try to bridge sand I get an error message that reads there seems to be some issues calling RPC 😔😔😔😔 Somehow I’ve messed this up royally.
Same here.
1. ensure the network has been added correctly. You can use Chainlist to add custom network/ tokens
2. ensure you have enough native tokens from that network to pay for gas
See response above
Hi, I tried connecting Metamask to Sandbox, but when I click on approve button on the Sandbox staking page, it says "Error loading contracts". I have 2MATIC in my metamask, on Polygon network, but Sandbox website just cannot read or show that 2 MATIC balance..... What's happening?
Good
Good Video!
Quick Question: If all my sand tokens are on my ledger and is on eth network, how to bridge this over for lower fee and successful staking
Hey I have a question. When you decide to stop staking and pull everything out do you have to split the msand/matic up to be able to sell it? Also does everything need to be reconverted to the ethereum netowrk to be able to get it back in to non-crypto currency? thanks
Yes, you have to reverse the process when you unstake. But you should be able to send your layer 2 assets to a desk that supports that token and make sure you send to their poly address given for that token.
@@LifeAsDane great video! I would love for a video on how to withdraw. I know it's reverse of what you did but it's quite a lot of steps and a step by step guide again would be awesome! Thank you so mcuh again
Great video! thanks for this. Just a bit of feedback, I would have prefered not to have the cheesy music, or at least the volume turned down
Blake! Yes, you and I both. I recently messed with my recording software to capture the pc sounds. Big mistake. I had the Sandbox Game minimized in background while recording and it unfortunately picked it all up and wasn't a track that I could just remove :(
@@LifeAsDane fairplay! it happens. Learn and iterate! Keep it up
Hey Great Dane, i hope you can help me (neither the polygon discord nor the polygon reddit did)
I did not knew that i need matic for staking. So now all i have is mSand. I tried to swap my mSand to Matic now, but it is not working (not on uniswap, not on polygon.technology, etc.) Do you have any idea, on how to swap mSand to Matic?
So basically its like $100+ in transfer fees and basically only worth it if your moving like $5,000 - $10,000 cause if you move only $1000 its more than 10% in fees, & this is only to put it in. there will be more fees taking it back out later. which makes it not worth it so its only good for rich people. better to just buy the coins, hold them on the exchange and cash out later. so you only have purchase and sell fees
I can’t tell people how to invest but I think you make accurate points. There is a lot of money in mSAND-MATIC pool right now. My $4k invested is .0043% my earnings have already generated about 11% return on my investment but that’s cause I started day 1. Follow up videos to show the earnings
Thanks a lot for your video! I have 2 questions though:
1) where can we find the APY for staking it? I tried to google it and no one is mentioning it, I don't know why, this is the first thing we want to know when we stake
2) depending on 1),do we know how the APY should evolve based on the total amount staked?
Thanks!!
@@omgurheadsgone thanks! But the thing is that usual staking rewards model have inverted yield curve based on the total quantity staked. So this 140% can drop quickly to for example 50% as more and more people stake. For example ETH and SOL have communicated this info for their rewards. It allows to project ourselves on our averaged yield but here they don't communicate it
my sand is still sitting my exchange. Can i just send SAND directly to a MATIC wallet? so i can bypass the eth-matic bridging step?
can i send SAND to metamask MATIC mainnet? directly from my binance exchange
unfortunately I don't think there is another way. The SAND has to be bridged over to Matic (aka, layer 2 of polygon)
thx for this informative video. you earned yourself a subscriber
If we have MATIC on a centralized exchange, can we just take it out as polygon network straight to MetaMask? As a newbie, my head is spinning a bit lol
The exchange needs to have ability to send direct to the Matic mainnet. Not all exchanges can. If the exchange does you’ll be able to see when going to send.
Is the value of mSand simply 1Matic+1Sand? If we were to ever want to convert it back to USDT, would it then be swapping it from mSand to USDT on metamask's Polygon network?
Good quiestion. Whats the answer?
@@mstrj7397 msand is just the ticker for sand on matic
I just seen that over half liquidity providers in projects like this lose money overall due to impermanant loss. I realize the percentages are good but can you please share how much your original investment has lost percent wise in each of the 2 tokens on Sand and eth since poly staking is relatively new. Thanks
You may not like this answer. My original $700 sand/ETH pair shows a value of $5k. My original $4k mSAND/Matic pair shows $5k. These 2 pools combined have generated 310 SAND. Obviously the ETH staking has been in place for months. Easily has covered the investment even if my “impermanent loss” was at 100% loss.
@@LifeAsDane That's great news. Was just doing research before getting into it. Mabye the data I got from google came from lower value apr projects. Thanks for sharing
Can you talk about what your claim strategy is? I followed your video and staked both eth and matic pairs a few months ago. All I've seen is my deposit amount drop. I haven't claimed anything yet due to cost. How to I counter the impermanent loss I'm seeing? Should I just unstake and get out right now? Appreciate your input and thanks for the videos!
As you know. I'm not a financial advisor and these are my own opinions. First ask yourself what your short/long term goals are? Do you NEED the liquidity right now? If not why even look at the deposit amount? It's the same thing as having your tokens sitting in a wallet or exchange. The market goes up and down. Personally my strategy on withdrawing the deposit amount would of course be to wait for the market for both SAND and ETH/MATIC to be higher than when I deposited. BUT some people might be ok with a loss on the deposits for tax purposes. I'm a long-term investor and since you have to withdraw your deposits and earning in full (you can't select how much) I prefer to let my gains just accrue. That is the point of staking is it not? Staking for a short period could make sense if you were using high value amounts and looking for quick earning gains on newly released staking pairs. If someone just staked in MATIC/SAND for the first 2weeks and then exited they'd have made a good move.
Please can you do the withdraw process with Polygon Network ,. Thank. you so much ,
Hi Dane, this is an excellent video. I've gotten to the deposit LP stage and it keeps confirming my transaction but not adding my Liquidity tokens? Keeps on eating my Matic ;-(
Nice video, was hoping you would have covered your daily rewards etc.
I’ll post a follow up in a couple weeks. As more liquidity enters the pool it should start to stabilize. The 1st day went from 1000% to 450%! Now it’s in the 300’s. I earned close to 18mSAND in 36hrs.
very very good~ Thanks!
When you unstake, you will get all the MATIC and SAND you staked right?
i wasted $60 on fees only to run out of fees to swap.. i didn't wanna buy directly on the site cause id end up with $200 less but it might be worth it due to the hasle
Do you need to Claim the Rewards and Re Stake or will the Rewards keep Compounding the Total Staked?
No the unclaimed funds just sit there. No auto compounding
Thanks!
What is the "Uni-Version 2" coin that now shows up in my wallet???
That’s temporary Tokens before it gets staked then shows as mSAND
@@LifeAsDane Yeah, those things say in my Metamask for 2 weeks before I realized I didn’t finish the staking process! Rookie mistake
Can I buy both Matic & Sand from Binance and then stake it ??? Or it has to come from Etherium network only ???
If you can acquire both through matic and send that way yes. All that matters is you get them to your Metamask matic mainnet
I just realized how risky staking this way man! LP is very volatile and sand and matic do not perform at the same pace. I would assume after 2 months of running my stake, i would just probably only breakeven considering the so called "impermanent" losses i would suffer.
A break even in 2months would be amazing… All I will say is most investments are risky and ALL crypto investing is super risky. A house has the risk of burning down, a stock tied to a business could file bankruptcy. This type of investing is not for everyone and impermanent loss is not something I personally worry about as the value is tied to the respective tokens whether I have them staked or just held in a wallet/dex
@@LifeAsDane Hi Dane, can you explain a bit more about that? Impermanent loss? When you commit the same amout of MATIC and SAND and swap to LP, what happens then? What you stake you get rewards in SAND? But when you unstake what happens then. You transfer your LP back to quickswap and "unwrap" again to get MATIC and SAND again right? Are you going to get the same amout od MATIC again and more SAND ? Sorry, very confusing how it works...
@@LifeAsDane unless you're me and staked 1800 sand you bought for 27 cents. I got burrrrrrrned
@@andrewwheeler8099 damn RIP. That is some severe Impermanent loss lol.
I have the UNI-V2 token following all the steps, but it doesn't show as LP token in the Sandbox Dashboard while trying to deposit. Anyone else with this issue?
Whens the best time to claim your reward? and whats the best way to compound it back in?
Best time? Well it’s poly network so gas isn’t as harsh. Claim when you want. Restate when you want. I personally wouldn’t spend the time on reinvesting until I had certain size bags. Like 100 SAND plus. No right or wrong answer. Just remember all those TX fees play into your total return.
hey hey ! nice vid ! any return on the staking ?
Earnings have been around 120 $SAND since Starting out. There was higher APR & Higher rewards the first month though.
Can you find withdrawal button if you want to unstake mSand-Matic LP in sandbox.game?
Thanks a lot for this "tutorial". I already had something staked on layer 1 and I wanted to also partecipate to this layer 2 staking. I followed all the steps but I have an issue that doesn't make me finish the process. I have the LP tokens on my metamask polygon network and when I press MAX and try to deposit them on the sandbox website, first it makes me approve the transaction (I have 37 Matic on my balance so should have more than enough) than 2 pop up messages appear: transaction succesfull, and right after that one: Your allowance is still less than the amount you want to stake. What does it mean? Even tried to select a little lower amount of LP tokens to deposit but still the same issue. Really hope you or someone can help, thanks in advance.
Problem solved, if anyone has the same issue you just need to deposit max 100 LP tokens at a time on the sandbox website👍🏻
Glad you got it working.
@@celsiusnetworkita2926 when say at a time you mean you can keep adding in increments of 100? So my LP is about 5000. I would have to do it 50 times? I’m assuming I can do it from the pool and not have crest 50 pools. Does it say anything in thier documentation? Thanks so much for your help!
@@Jbizzy360 yeah exactly, I asked the support and they told me to do it like this. It’s gonna take you around 10/15 minutes to do it 50 times but at least gas fees on layer 2 are close to 0
Great video, great breakdown, fuckkkkkk fees lol
your allowance in still less than the amount you want to stake ? 😟
Look at most recent comments this was resolved, but I’m seeing a lot of recent comments about this.
SAND holders who provide liquidity to the mSAND/MATIC pair on Quickswap will be eligible to share a monthly allocation of $SAND. Can somebody explain what does this mean exactly ?
Do you have to bridge the amounts of matic and sand from eth network or does it work withdrawing directly from binance?
I’m pretty sure binance .com allows this now but not binance USA. I stopped using binance after the US specific site came out. Went through verification took weeks then a month later it asked for verification all over again. I’m not tying up assets on an exchange that locks you out from transfers and exchanging when coins have major movement. Unethical and illegal in my eyes.
Thanks!
You are AWESOME!
when you want to withdraw your lp tokens how do i swap them back for polygon or usdc? thanks
Process is just reversed. I’ll be making a video soon. I’ve been waiting as when you “claim” you’re claiming all rewards. Unless something was changed from their ETH pool. So I’ve been wanting to wait until I hit 100 mSAND. VERY SOON!
Too many steps to transfer my existing sand and too much $.
Thank you, this video really helped me
im unable to get "Bridge Sand" to open, seems to get stuck on it loading with the "powered by Polygon" ...anyone
else?
Happen to me too
When trying to move my 81 matic coins from ether chain to polygon with web wallet, it's giving me this error when trying to bridge: Provider does not have a request or send method to use. I have the eth about 219 usd. what am i doing wrong, i can't seem to do the conversion.... I have 6 msand and 3.95 matic on polygon network and 0.07 eth (220usd) and 0.286 sand (1.28usd) and 81.8 matic on eth network. I know it's nothing just trying to try to stake something.
I tried to bridge my SAND to Matic just now. So i clicked on "bridge SAND" icon on the bottom right corner of the official sand website. When the polygon bridge box comes up, It says my SAND balance is at ZERO from the Ethereum mainnet. This is false because i checked my metamask and there is a balance. Have you ever encountered this problem?
Thank You so much 😊 it was really a helpful video for us, but sir could you please tell us the minimal amount of usd that we need to have if we want to stake the SAND and the ETH? (all over the fee/money we have to pay). Hope you read this:) thankyou 🤗
Did you find the minimum ammount? Want that too...
When I click the approve button it says web3 error transaction rejected
What do I do if I don't already have ETH in my metamask? Can I send MATIC to the OX address that comes up as I'm setting up the Polygon mainnet wallet? (Im getting the same message of insufficient funds in order to approve the Polygon wallet)
And...do you know if its possible to stake SAND somehow using the Ledger Nano X wallet? So far, I'm not seeing any info about hooking Ledger up to Sandbox.
You have to get ETH into your MetaMask. I go the Coinbase route. Fiat to ETH then transfer. You can send Matic but it’s going to go to your Ethereum mainnet by default unless the exchange allows you to send to via polygon. Yes you can stake with the ledger. You setup the same but have to approve transactions on the hardware wallet
@@LifeAsDane Oh ok so Ill transfer ETH 1st and then go the route you tried. And I thought the process to stake DOT was complicated. Trying to stake SAND is making my head explode LOL. Thanks for your help and the video.
Thank you it was helpful. But the background music was annoying.
When you get the bridging part, i do not see my mSAND... i followed your video exactly and purchased some matic. I can see it in my metamask wallet but I am lost as to what i do next to get sand staked... any help would be cool.
you had SAND already that you bridged to Matic Mainnet, and the transaction is confirmed on Polygon Transactions? The bridging takes around 10-15min to fully deposit. The bridged amount will show as SAND in MetaMask until it’s fully deposited/staked. Just remember the bridge happen for matic and sand. Then you go to sandbox page to approve, deposit and supply liquidity
@@LifeAsDane yes i see the matic in my metamask when i use the ethereum mainnet. Sorry im extremely new to this stuff. As of right now im stuck with like 2000$ in matic. When i click bridge it wont show i own anything bridgeable lol if thst makes sense
@@jordantasca3776 Please help me, I don't have enough 0.001 matic to make a deal