What is SAND?
SAND is the native utility token of The Sandbox Web3 game - a play-to-earn community-driven platform launched in 2011 where creators can monetize in-game assets and gaming experiences on the blockchain. It is an ERC-20 token built on the Ethereum blockchain that serves as the basis for transactions on the platform.
SAND can be used for the following purposes: to access the Sandbox platform; governance; staking; fee capture model and for supporting The Foundation - the organization that is managing and funding in-game content and games production.
By merging the powers of decentralized autonomous organizations (DAO) and non-fungible tokens (NFTs), the Sandbox offers a decentralized platform for a thriving gaming community. The supply of SAND coins is limited to 3 billion. About a quarter of the total SAND supply is set aside in company reserves, while a further 31% is held for company founders and team members
How to Deposit SAND Into Your Coinmetro Account
If you're depositing from another exchange, it is important to ensure they support sending funds to ETH contracts, or use a full ETH wallet as an intermediary.
Note: As Coinmetro uses smart contracts for Ethereum and ERC-20 token deposits, the amount of gas required is slightly higher than a typical transfer. To be sure that your transaction is successful, please set the transaction gas limit to 55,000 for ETH. The fee difference is minimal. If your gas limit is too low, the transaction will simply be rejected by the Ethereum network. There is no risk for loss of assets caused by a too low gas limit.
How to Withdraw SAND From Your Coinmetro Account
Important Note - To request a withdrawal, your account profile needs to be verified as well as having the funds to cover your withdrawal. The first time a withdrawal is made to a destination, the destination needs to be verified via e-mail. If you have 2-Factor Authentication enabled for withdrawals, you will be asked to input the code for each withdrawal, approved or not. We suggest enabling 2-Factor Authentication to protect your account.
Withdrawals waiting for approval can be cancelled and withdrawal status can be found by selecting the wallet on the GO! Dashboard. Approved withdrawals cannot be cancelled. If there is no Cancel button, there should be a transaction ID (TXID). This is a link to the relevant tx hash (Transaction Hash) on a blockchain explorer website.
As Coinmetro is a licensed and regulated exchange, you will need to ensure that you have completed Profile Verification before you are able to buy, sell, deposit and withdraw cryptocurrencies.