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July 11, 2024

Sanctum Initiates CLOUD Airdrop, Launching Token Claims On July 18

In Brief

Liquid staking platform based on Solana, Sanctum announced its intention to launch the CLOUD airdrop next week.

Sanctum Initiates CLOUD Airdrop, Launching Token Claims On July 18

Liquid staking platform based on Solana, Sanctum (CLOUD) announced its intention to launch the CLOUD airdrop next week.

On Monday, the project will release a practical guide outlining the launch process. Following this, at 15:30 UTC on July 16th, it plans to conduct a special edition of the Planetary Call, titled “Liftoff” with Jupiter, to provide further insights into the launch. Subsequently, a portal will be activated to allow users to check their airdrop allocations, deposit into the Alpha Vault to purchase CLOUD early with vesting, or prepare for the CLOUD launch.

Subsequently, on July 18th, CLOUD will be launched, enabling individuals to claim their airdrop and begin trading with the CLOUD token. On July 19th, Sanctum will host a CLOUD Party.

Sanctum To Unlock 18% Of Total CLOUD Supply At Launch

A total supply of CLOUD is set at 1 billion tokens. According to Sanctum, 18% of the total supply is planned for allocation at the release: 10% will be allocated via an initial airdrop, and 8% will be utilized to seed liquidity in the LFG launch pool. In addition, 13% of the tokens will be set aside for the strategic reserve, 25% will be distributed to the team, 13% to backers, and 1% will be reserved for the Jupiter LFG.

The token will be used for governance and capital control, enabling holders to influence decisions regarding the platform’s direction and resource management. Additionally, participants will be required to stake CLOUD to qualify for the Sanctum Verified Partner program, with CLOUD holders voting on which partners are accepted.

At the airdrop launch, 18% of the total token supply will be unlocked. Half of the airdrop, or 5%, will be allocated to Wonderland XP. The remaining 5% will be distributed among users based on user social contributions, the quality of these contributions, and active participation.

Sanctum focuses on liquid staking tokens (LSTs) Solana, providing tools for the creation, trading, and management of these tokens.  Recently, Sanctum concluded its Wonderland Season 1 and unveiled Sanctum Profiles, enabling individuals to connect their wallets and social media accounts.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

More articles
Alisa Davidson
Alisa Davidson

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

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