Sanctum (CLOUD): Unlocking the Future of Liquid Staking on Solana
The introduction of the proof of stake (PoS) block validation method on Ethereum (ETH) back in 2021 led to an explosion in the number of liquid staking protocols on its blockchain. Due to the inflexibility and high capital requirements of direct Ethereum staking, the liquid staking sector flourished, quickly becoming one of the leading niches within the decentralized finance (DeFi) industry. Popular thanks to their affordability and flexibility, these protocols offer liquid staking tokens (LSTs), also known as liquid staking derivatives (LSDs), as a confirmation of your staked funds, and LSTs can be freely reinvested within the DeFi pools and solutions of the Ethereum ecosystem and beyond.
Sanctum (CLOUD) is a liquid staking protocol that’s taken the concept of LSTs to the Solana (SOL) ecosystem. Although Sanctum isn't the first liquid staking protocol on Solana, it has introduced several innovative solutions in this area, the most notable of which is a multi-asset liquidity pool that aims to provide virtually limitless liquidity for Solana LSTs. By offering a highly flexible, multi-LST liquid staking environment, Sanctum opens up unique opportunities for the Solana DeFi user community.
Key Takeaways:
Sanctum is a Solana-based liquid staking protocol featuring a multi-LST liquidity pool and token swaps.
Sanctum aims to offer an environment in which protocols and even individual validator nodes can create their own custom LST tokens and leverage infinite liquidity via the platform's multi-asset pool.
CLOUD, Sanctum’s native governance token, can be bought on Bybit as a Spot pair (CLOUD/USDT).