Sanctum Announces CLOUD Staking Launch on Solana Ecosystem

The Solana ecosystem’s liquid staking token protocol has announced that CLOUD staking will launch this month. The news was shared via a post on X.

January.

☁️ pic.twitter.com/NLtjQHRTgf

— sanctum ☁️🌱 (@sanctumso) January 6, 2025

Sanctum, now one of Solana’s largest protocols, has gained significant popularity as investors farm its tokens. In July 2024, the platform introduced its governance token, CLOUD, with a total supply of 1 billion tokens.

Sanctum: Powering Solana’s Liquid Staking with $1.58B TVL and New DeFi Innovations

Sanctum drives Solana’s liquid staking ecosystem by enabling users to stake SOL directly and access a unified liquidity layer. According to DeFiLlama, the protocol currently has $1.58 billion in total value locked (TVL) within its infrastructure.

In 2024, Sanctum expanded its decentralized finance (DeFi) offerings with two major products: Sanctum LSTs and Infinity. The Infinity product facilitates swaps between liquid staking tokens (LSTs), allowing users to deposit SOL or any LST and earn from both trading fees and aggregated staking rewards throughout the ecosystem.

Also Read: What is Solana? How does it work?

Sanctum also raised $6.1 million in funding, including from a seed extension round. This round drew top venture capital firms like Dragonfly, Sequoia, Solana Ventures, and DeFiance Capital. Additionally, prominent founders and angel investors in the Solana ecosystem, including the BOOGLE Syndicate, Drift Protocol, Squads, and MRGN, contributed to the funding.

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