LSTs, Trading, Staking, and Gamified Points
Solana offers a wide variety of de-fi apps and tools to explore, earn, invest, trade and explore the ecosystem in ways that few other chains can. One of the newest and most exciting platforms worth checking out is Sanctum. With its own LST, called Infinity or INF, Sanctum seeks to further develop and support the LST and staking ecosystem on Solana by offering a multi-LST staking pool that allows for swaps between all LSTs in the pool. In addition to this multi-LST staking pool, it has a “Stake Accounts” manager that lets users see a list of all validators a user is currently staking on across the entire Solana ecosystem, and the ability to immediately un-stake from any of the validators.
For example, if a user has Solana staked on Marinade Finance in the Native Staking Delegation, which automatically spreads the staked Solana across a number of validators and requires two days to deactivate, a Sanctum user can immediately un-stake that Solana validator by validator using the Sanctum Stake Accounts deactivation tool without waiting the two days.
I think this is a fantastic tool that allows more flexibility for those who want the benefits of staking with validators that have delayed deactivation, but also want the ability to move their money around immediately as market conditions change and new opportunities arise.
What else does Sanctum offer? Currently in Season 1, Sanctum provides “Wonderland,” a gamified points system with community quests, a referral bonus, and points via pets for holding qualified LSTs. While we do not yet know what these points will yield, given the number of airdrops on Solana this cycle from d-apps that allowed for point farming, we can expect it will likely be a Sanctum coin airdrop of some kind.
In Wonderland, you collect pets by buying and holding qualified LSTs, and these pets level up over time by continuing to hold the associated LST. From the Wonderland white paper “All Pets earn 10 EXP per minute for every 1 SOL worth of the respective LST that you currently hold. This is known as the base rate of earning EXP.” Pets can also evolve! Each pet can evolve three times and this function will be released soon.
Community Quests are an opportunity to multiply your points while working with other members of Wonderland. If the community completes the quest, and you participated, you will be rewarded with a chest, which will provide a point multiplier for a period of time. Currently we are completing the first quest, so hop in soon with some INF to earn a multiplier early in the Season!
To conclude, Sanctum is a new platform on Solana that brings greater flexibility to staking and INFs, connects the community together to reap greater rewards, and exposes users to other reputable INFs in the ecosystem that one may not have considered before. I highly encourage you to try it for yourself!
Cheers,
Davie
©2024
