CoinInsight360.com logo CoinInsight360.com logo
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
crypto.news 2025-01-06 16:09:55

Solana-based Sanctum announces CLOUD staking set for this month

Sanctum plans to launch staking for its governance token, CLOUD, later this month, according to an official announcement. The Solana ( SOL ) ecosystem liquid staking token protocol announced the upcoming support for CLOUD staking on via X, noting that the crypto service will go live this month. Sanctum has grown to become one of Solana’s biggest protocols, gaining popularity as investors farmed its tokens. The platform launched its governance token, CLOUD, in July 2024, with a total supply of 1 billion tokens. You might also like: 4 crypto startups earn MiCA licenses from Dutch watchdog Sanctum powers Solana’s liquid staking ecosystem by allowing users to stake SOL natively to access the ecosystem’s unified liquidity layer. According to DeFiLlama , the total value locked in Sanctum’s infrastructure stack currently stands at $1.58 billion. The protocol expanded its decentralized finance offerings in 2024 with the launch of two key products: Sanctum LSTs and Infinity. The Infinity product allows for LST-to-LST swaps, enabling users to deposit SOL or any LST and earn from both trading fees and aggregated staking rewards across the ecosystem. Sanctum secured $6.1 million in funding, including from a seed extension round. The round attracted top venture capital firms such as Dragonfly, Sequoia, Solana Ventures, and DeFiance Capital. Additionally, prominent founders and angels in the Solana ecosystem participated, including the BOOGLE Syndicate, Drift Protocol, Squads, and MRGN. You might also like: Solana L2 Sonic to launch native token on January 7

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.