The Sandbox implements KYC measures for protocol staking By Cointelegraph

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The Sandbox implements KYC measures for protocol staking

Published Aug 03, 2023 02:15PM ET Updated Aug 03, 2023 05:20PM ET

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The Sandbox implements KYC measures for protocol staking

Metaverse platform The Sandbox will require Know Your Customer (KYC) verification for its staking processes, according to an Aug. 3 announcement.

The announcement stated that only verified users could deposit The Sandbox (SAND) tokens, which are native to the platform, and claim staking rewards, while non-verified users will be placed into withdraw-only mode. Data from blockchain analytics firm Messari shows that 123 million SAND, or 6.7% of the token’s circulating supply, is currently staked by users. The Sandbox developers wrote:

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