Sanctum announced plans to launch staking for its governance token, CLOUD, which will be available this month. The platform has grown into one of Solana’s biggest protocols.
Sanctum History and CLOUD Token
Since its launch in July 2024, the CLOUD governance token has gained popularity among users on Sanctum's platform. The total supply of the token is 1 billion.
Platform Features and Products
Sanctum integrates with Solana systems to provide access to a unified liquidity layer. In 2024, products LST and Infinity were launched, with Infinity offering LST-to-LST swaps, allowing users to earn from fees and staking.
Funding and Partnerships
Sanctum has secured $6.1 million in funding, including from a seed extension round. Key investors include Dragonfly, Sequoia, Solana Ventures, and others in the Solana ecosystem.
The development of Sanctum on the Solana platform indicates strong positions in the DeFi ecosystem, offering users new interaction and revenue opportunities.
