Sanctum Token Economic Model Announced: Total 1 Billion Tokens; Initial Airdrop Accounts for 10%

Original title: "Quickly review the latest information on Sanctum tokens and airdrops"

Original author: Azuma, Odaily Planet Daily

Beijing time on June 5, Solana ecosystem LST staking protocol Sanctum officially announced the basic information about the token economic model, and explained some detailed plans about the points activity and airdrop plan through the subsequent community AMA.

As the top project in the second phase of Jupiter LFG Launchpad voting projects, Sanctum has always been highly concerned by the community in the Solana ecosystem. In the past one or two months, Sanctum has achieved a rapid development in data with the help of the first season points activity Sanctum Wonderland S 1. As of the time of posting, the TVL is temporarily reported at US$1.03 billion, making it the fourth DeFi protocol in the Solana ecosystem TVL.

Project Analysis

In April, Sanctum announced the completion of its seed round of extended financing, led by Dragonfly, with participation from Sequoia, Solana Ventures, CMS Holdings, DeFiance Capital, Genblock Capital, Jump Capital, Marin Digital Ventures, etc. Although the amount of this round of financing was not disclosed, Sanctum revealed that the total financing of the project has reached 6.1 million US dollars.

Unlike conventional liquidity pledge agreements, what Sanctum does is more like helping Solana build a more unified liquidity pledge paradigm to solve the liquidity fragmentation problem of major liquidity pledge tokens (LST, such as Sanctum's own INF and other tokens such as jitoSOL, mSOL, bSOL, etc.) in the current Solana ecosystem.

By building a unified liquidity layer around the liquidity staking scenario, Sanctum can help users achieve extremely fast and lossless redemption, or convert between major LSTs with extremely low wear and tear through multiple modules such as Reserve (supporting instant unstaking services for all LSTs), Router (supporting conversion between two LSTs that usually have no transaction path), and Infinity (supporting conversion between all LSTs).

Token Economic Model

Last night, Sanctum's founder FP Lee simultaneously disclosed the project's token economic model.

Sanctum's protocol token will be called CLOUD. In addition to its basic governance utility, FP Lee also mentioned that potential partners may need CLOUD to qualify for Sanctum's verification program, which also adds a certain practical value to CLOUD.

The total supply of CLOUD will be 1 billion, with the following distribution:

· Community Reserve 30%:Community reserves should be used strategically to expand Sanctum's market share, and the community will ultimately decide how to use this part of the reserve;

· Strategic Reserve 13%:The team will use this part of the reserve to develop the Sanctum ecosystem, such as future acquisitions, strategic investments, ecological partners, donation programs, market making, etc.

· Team 25%:Locked for one year, and then linearly released over 24 months.

· Investor 13%:Sanctum has sold some tokens at valuations of 50 million and 60 million in the past, most of which were sold in 2021. This portion of tokens will also be locked for one year, and then released linearly over 24 months.

· Initial Airdrop 10%:To be distributed to the community at the CLOUD TGE.

· LFG Launch 8%:To be used to inject initial liquidity into CLOUD's Launchpad on Jupiter.

· LFG Donation 1%:This portion of the share will be donated to Jupiter LFG, and Jupiter will generally airdrop to LFG voting participants as usual.

From the circulation point of view, CLOUD can achieve a maximum initial circulation rate of 18% at the beginning of TGE, including 10% of the initial airdrop share and 8% of the LFG Launch share, but the unsold tokens in Jupiter Launchpad will be transferred back to the strategic reserve.

Points Event

Currently, Sanctum's first season points event has officially ended, and the season's activities have attracted a total of more than 300,000 addresses to participate.

However, some details about the first season points event are still to be confirmed, including the utility information of "cupcakes" and the user's final points situation - Sanctum said it is still finalizing the statistics, so the scores displayed on the front end may change slightly.

As for the second season event, FP Lee originally planned to start it immediately after the end of the first season event, but later in order to give users a different participation experience, it was decided to postpone the launch for a richer design. As for the specific launch time of the second season, there is no specific information for the time being, but it can be confirmed that it will be after TGE.

Airdrop Plan

The current information about the airdrop is that 10% of the CLOUD tokens (100 million) will be distributed to the participants of the first season event. FP Lee also revealed that some witch screening will be carried out to distinguish between "farmers" and "true believers".

As for when the TGE and airdrop will take place, there is no specific time point for the time being. The official only mentioned that the airdrop qualifications will be disclosed and available for collection in the next few weeks.

In addition, it is worth mentioning that although the 10% CLOUD used for the initial airdrop is included in the initial circulation range, FP Lee also mentioned that some additional rules may be designed for specific collection to ensure that "true believers" can have certain liquidity advantages - For example, 50% of the airdrop shares are set to be unlocked immediately, and the rest are unlocked within 7 days - but this plan is still to be determined.

Where to trade?

In addition to airdrops, another direct channel to obtain CLOUD is to participate in Jupiter's LFG Launchpad.

A total of 8% of CLOUD will be invested in Jupiter's Launchpad pool as initial liquidity. FP Lee mentioned that CLOUD's initial price curve will start with a FDV of 50 million US dollars, which is a very attractive price.

In addition, FP Lee also emphasized that he would not pay any centralized exchange (CEX) for listing fees, because "he would rather give the money to the community."

In short, FP Lee said that he welcomes CEX to actively choose to list CLOUD, but will not force it to pay. This may cause CLOUD to be unable to land on more mainstream CEXs in the early stage of TGE, so the on-chain market may be the main battlefield for CLOUD.

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