How to destroy SAND coins

In order to balance the economy, the Sandbox ecosystem regularly burns SAND tokens in an effort to reduce supply, maintain token value, and incentivize user participation. The destruction process involves identifying SAND that can be destroyed (such as revenue earned from selling content and services or participating in a game), moving it to the destruction library, and destroying it in the Sandbox game. Burning SAND increases its value, reduces inflation, and rewards users for their participation within the ecosystem.

SAND Coin Destruction Guide

Key Points:

• The Sandbox ecosystem balances the economy by regularly burning SAND coins.
• The burning mechanism is designed to reduce supply, maintain token value and incentivize user participation.

Destruction steps:

1. Confirm that the SAND can be destroyed

• Sell in the Sandbox market Revenue generated from content and services (called SAND commissions) can be destroyed.
• Transaction fees generated when users purchase virtual assets such as land can also be destroyed.
• SAND rewards obtained by players participating in Sandbox games and activities can also be destroyed.

2. Transfer SAND to the destruction vault

• Log into your account on OKX and navigate to the assets page.
• Deposit or purchase the required amount to be burned in the form of SAND.
• Extract SAND from OKX to Sandbox game.

3. Destroy SAND

• Open the Sandbox game and travel to your land or experience.
• Click the "SAND" icon in the menu bar.
• Select the "Destroy SAND" option, enter the amount to be burned, and confirm the transaction.

FAQ:

Q: Why is SAND destroyed?

A: Burning SAND balances the economy by reducing supply, thereby increasing the token value and incentivizing users to participate in the Sandbox ecosystem.

Q: What are the benefits of destroying SAND?

A: Destroying SAND can:

• Increase the value of SAND, making it more attractive.
• Reduce inflation and prevent oversupply.
• Incentivize users to participate in games and activities in the Sandbox.

Q: What happens to destroyed SAND?

A: Burned SAND will be permanently removed from the circulating supply, which will reduce the total supply.

Q: How to earn burned SAND?

A: SAND can be earned by selling content and services on the Sandbox Market, participating in games and activities, or participating in trading activities, and these earnings can be used to destroy.

Q: What is the minimum amount of SAND to be destroyed?

A: There is no minimum requirement for the amount of SAND destroyed, but it is recommended that the amount destroyed is large enough to have an impact.

Q: Is there a fee to destroy SAND?

A: When sending SAND from OKX to Sandbox Game, you need to pay a GAS fee. There is no additional cost to destroy SAND in Sandbox games.

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