Sanctum Wonderland: the HOTTEST LST


Speaking of Airdrops, a project that’s on top of the wave right now is Sanctum. Sanctum is an aggregator of validator nodes on Solana. Even if it’s not technically a liquid staking platform itself, Sanctum offers financial tools to access a lot of single liquid-staking solutions (29 in total) in the entire Solana ecosystem 

Sanctum it's a liquid staking protocol on Solana: if you don't know the term liquid staking LST, here’s the long story short:  usually for partecipating in “proof of stake” networks you stake tokens to secure the network. Those tokens have a period ranging from a day to even three weeks to unlock: what liquid staking allows you to do is that you can stake those tokens through a third party protocol that stakes them for you and give you a token in exchange that you can sell at any time. Basically they allow you to earn staking rewards while also having a tradeable token.

 

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Sanctum have a unified liquidity pool that basically makes it easy for different protocols to launch their own liquid staking tokens: the pool right now it includes common liquid staking tokens and then it also includes 18 liquid staking protocols launched by a variety of protocols on solana ranging from large to small and you can swap them all through this one centralized liquidity pool.

 

 

What is the Infinity Pool and INF token?

The Sanctum Infinity Pool is a multi-LST liquidity pool that allows swaps between all LSTs in the pool. You can think of it as a basket of LSTs.

The INF token is the token you get in exchange for providing liquidity into the Infinity Pool. INF is a yield-bearing token: right now that alone earns 9.19% APY: so in addition to earning points for the airdrop you are also earning 9.19% APY

Of course this activity are investment into liquid tokens that are subjected to the market, so please DYOR before deciding to tak part in the program. If you see the "blue check", the liquid staking tokens are verified so the risks should be very low. Some project like Jupiter or Drift are solid platforms that have been active for years so they are risk-free).

 

Wonderland Airdrop Program

Sanctum points program is called Wonderland: basically the way that Wonderland works is they have all of these pets (Sanctum pets), one for each for LST token listed on the protocol  You can earn these pets by buying a certain amount of the LST and then those pets earn XP based on how much of those LSTs you have and then they level up.

A good strategy would be to own the maximum number of pets, bouying all LST tokens on the platform: if you look at it from Sanctum's perspective what they're aiming is people to actually utilize all the different liquid staking tokens in their protocol. I wouldn’t be surprised if a sort of multiplier for pets collector pops out at a certain point

If you look at the deposits on this protocol it has just been going really up recently: it went from around around a $35 million towards the end of March to over $400 million at the time of writing.  Sanctum is in a nutshell and they have this interesting ongoing points program called Wonderland which is basically a gamified version of an Airdrop program.

For every liquidity token that you buy (at least 0.10 SOL worth) you’ll get a special pet that will evolve the more time you’ll keep it.

These per are not NFT, they are not tradeable, and will just be used for a very likely to come come Airdrop.

Currently there’s 18 pet you can collect:

  • JucySol
  • JupSol (Jupiter Aggregator)
  • BonkSol
  • Dsol (Drift Protocol)
  • HubSol
  • CompassSol
  • PathSol
  • StrongSol
  • StakeSol
  • Inf (Sanctum liquidity token for Sol)

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Each of these is a validator node on the Solana blockchain. If you hold these tokens (at least 0.10 $Sol) you earn XP and therefore points. If you ever decide to unstake your pets and XP points collected will remain in your account..

I'm currently owning 3 pets at level 30, but I'm looking soon to swap them to earn at least a couple of new pets.

 

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Sanctum: Earn points for acquiring LST tokens

 

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The Very Confused Martin Babalor
The Very Confused Martin Babalor

Crypto enthusiast, NFT minter linktr.ee/bigbluepotatoesstorm


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