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.
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.
