Sanctum is a platform on Solana that aims to make staking more flexible. It wants to turn all the SOL tokens you stake into something you can easily trade, like a special kind of token called Liquid Staking Tokens (LSTs). Sanctum has officially finalised its airdrop campaign, known as Sanctum Wonderland, which is currently in Season 1. And with our guide, you can start passively earning every second! Here is our Sanctum token airdrop guide.
Check out our step-by-step guide!
What is Sanctum?
Sanctum is a project focused on enhancing the liquid staking ecosystem on the Solana blockchain. Here’s a brief summary of Sanctum’s main features:
- Mission: To make all SOL staked and all staked SOL liquid, aiming for a future where Liquid Staking Tokens (LSTs) are easily accessible to everyone.
- Core Functions: The app includes various tabs that house its core functions, designed to facilitate the issuance and investment in LSTs.
- Developer Support: Provides technical documentation for developers interested in the project.
- Accessibility: Strives to allow users to issue their own LSTs without liquidity concerns and to explore a wide range of LSTs for investment.
Sanctum has recently closed a funding round led by Dragonfly Capital and other top VCs for US$6.1 million dollars.
How to get the Sanctum token airdrop?
Time needed: 1 hour
Here’s how to get the Sanctum token airdrop
- Obtain Solana ($SOL) tokens
Get some Solana ($SOL) tokens onto your Solana wallet. Solana ($SOL) tokens can be obtained from most major cryptocurrency exchanges such as Bybit or BingX.
Sign up for Bybit and stand to win an iPhone 15 Pro Max HERE
Sign up for BingX for sign up bonuses HERE - Stake SOL tokens for Infinty or liquid staking tokens
Connect your wallet to https://app.sanctum.so/infinity and stake your SOL tokens for Infinity ($INF) tokens. Infinity ($INF) tokens are a yield-bearing asset pegged to Solana. You can also stake SOL tokens for liquid staking tokens (LSTs).
- Swap SOL tokens for Infinty tokens
On the same page as step 2 above, go to the “Swap” tab and swap other Liquid Staking Tokens into Infinity ($INF) tokens.
- Deposit Infinity ($INF) to Kamino Finance
Connect your wallet to https://app.kamino.finance/. On the “Borrow/Lend” tab, scroll down to the INF market. Click “Supply” to deposit your Infinity ($INF) tokens. This is so you can farm points for Season 2. Note however there is a downside of no supply or borrow APY being distributed for this. This means you will not be earning yield from supplying $INF on Kamino.
- Deposit INF into Meteora’s DLMM Pools
Meteora is another liquidity hub. It does not have a token yet, but there is a possibility that it may have one and do a token airdrop in the future. Meteora however has DLMM Pools for INF, which you can pair with SOL in order to farm a potential airdrop. To deposit INF into Meteora’s DLMM Pools, connect your wallet to https://app.meteora.ag/ and go to the “DLMM” tab at the top of the page. Find an INF-SOL pool to deposit your tokens. You may want to consider looking for pools to deposit that have the highest volume and TVL.
However, when depositing onto Meteora’s DLMM Pools, be cautious of impermanent loss risks and remember to actively monitor your position. - Alternative: deposit to normal pools on Meteora
For a slightly lower risk alternative to DLMM Pools, you can consider using normal pools on Meteora. These can be found under the “Pools” tab. However, when using the normal pools, you should be aware of the Virtual Price value, which represents the value of your deposited LP token. The Virtual Price indicates if you are earning or losing money on your LP tokens. If the Virtual Price value is above 1, then you are earning from fees. For example, a Virtual Price value of 1.003 means that you are effectively earning 0.3% of the fees from this pool. On the other hand, if the Virtual Price value is less than 1, then it means you are losing money on your LP tokens.
Note however you should still actively monitor your position on the pools you have deposited assets into on Meteora or any other protocol. - NEW: Participate in Sanctum Wonderland Season 1
To participate in Sanctum Wonderland Season 1, connect your wallet to https://app.sanctum.so/wonderland and use our code 94MIOB if you’d like. This will give us both an extra XP boost!
- Get a Sanctum Pet
Sanctum has a total of 18 pets, and each LST has its corresponding Pet. To get a Sanctum Pet, you will only need to hold a minimum of 0.1 SOL worth of the corresponding LST. To get the Pet, click on its image and then “Buy”. Each Pet you own will allow you to earn 10 EXP per minute for every 1 SOL worth of the corresponding LST that you hold.
- Level up and evolve your Pet
Your Pets will automatically level up as they gain EXP. The maximum level a Pet can reach is level 999. Upon reaching a certain level, Pets will evolve, and there are a maximum of 3 evolutions per Pet. This feature is coming soon so stay tuned!
