Sanctum Locks User Profiles To Prepare For CLOUD Token Launch, Profile Edits Paused
In Brief
Sanctum has locked all user profiles, pausing creating and managing functions, including editing linked wallets and social information.
Solana-based liquid staking platform Sanctum announced that it has temporarily locked all user profiles. A post on the social media platform X indicates that creating and managing profiles, including editing linked wallets and social information, is currently not supported. However, users with existing profiles can still log in to view them.
This temporary lock is part of the preparations for the CLOUD token launch. Sanctum advised users to follow its official social media channels for updates on profile unlocks.
CLOUD serves as a governance token of Sanctum, with a total supply of 1 billion tokens. According to the CLOUD tokenomics, Sanctum plans to allocate 18% of the total supply at launch: 10% will be distributed through an initial airdrop, and 8% will be used to seed liquidity in the LFG launch pool. Additionally, 13% of the tokens are reserved for the strategic reserve, 25% are distributed to the team, 13% are designated for backers, and 1% is set aside for the Jupiter LFG.
Sanctum Introduces Beta Version Of Sanctum Profiles, Encouraging Users To Create Profiles And Link Wallets
Sanctum focuses on liquid staking tokens (LSTs) on the Solana blockchain, offering tools for the creation, trading, and management of these tokens. Its key features include the “Infinity” protocol, designed to optimize staking rewards and liquidity, and validator LSTs, which aim to improve validator performance through tokenization. It also offers a reserve pool for liquidity support and a router for efficient staking management. Supporting multiple LSTs, the platform provides a comprehensive ecosystem for various staking solutions.
The project introduced the Beta version of its Sanctum Profiles in June, allowing individuals to make profiles on the website and link their wallets and social media accounts. These profiles are aimed to serve as a criterion for the token launch. Additionally, the broader objective of the Sanctum Profile feature is to facilitate users in establishing their identity in the Sanctum community, providing a platform to showcase their roles, pets, achievements, and more.
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Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, 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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Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, 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.
