What is Sanctum?
Sanctum is a Solana blockchain based network who provides infrastructure for developers to build creative crypto staking applications. They have become especially renowned for their scalable and easy to use LST (Liquid Staking Token) tooling.
LST (Liquid Staking Tokens) is an advanced method of staking cryptocurrency where tokens are placed in a smart contract or staking pool rather than a typical validator.
In return for staking with an LST, the user receives a different type of token which represents the staked amount. Staked tokens typically continue to earn interest as well.
The tokens a user receives can be traded, used to fund transactions in DeFi apps or simply transferred to cold storage for safekeeping.
Several notable Solana platforms have deployed an LST with Sanctum including:
- Bonk
- Jupiter
- Drift
- Helius
You can deposit SOL or your validator stake account into the bonkSOL non-custodial pool (This means that your funds are safe, the team are unable to access your funds at all).
Your SOL is then staked with the BONK validator. In return, you'll receive the bonkSOL token, which accrues staking rewards.
What is $CLOUD?
$CLOUD is the governance token of Sanctum and the release on July 18th is highly anticipated by long time users of the platform as well as airdrop farmers.
It's prime utility revolves around voting on how Sanctum funds are used and the management of Sanctum's Verified Partner Program.
Most of the tokens available on July 18th will be distributed to users and community members of Sanctum.
- Launch Liquidity (20%)
- Community Reserve (30%)
- Strategic Reserve (11%)
- Team (25%)
- Investors (13%)
- Jup LFG (1%)
Users who wait to claim their $CLOUD airdrop will receive up to a 100% bonus allocation.
What is Sanctum's 'Wonderland'?
Wonderland is how Sanctum has gamified mundane blockchain processes and added a reward component for using LSTs.
Users who hold a piece of LSTs own 'Pets' who in turn earn EXP (experience) points the longer that they are held. Earned amounts of EXP is directly tied to $CLOUD token allocations.
There were 18 total LSTs and Pets available to collect in Season 1 of Wonderland such as:
- Bonksie (bonkSOL)
- Clockie (clockSOL)
- Compie (compassSOL)
In addition to the built in EXP reward rates, users were able to complete various community quests and challenges to win 'multipliers' which would boost your EXP earning rate.
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