This last month of April we have seen how the #airdrops have begun to fall in the #Solana network such as Parcel, tensor, kamino, Zeus among others. There will soon be new airdops that have already been announced and are waiting for the launch of their token, and one of them is the Sanctum liquid staking protocol. How to participate in the Sanctum protocol airdrop? Let's explore.
Sanctum is a protocol designed to facilitate liquid staking on the Solana network. Its token is infinity (INF) and it is a multi LST. We can obtain the INF token by depositing SOL or any permitted LST. Since INF is an LST token, we can use it in other #DeFi protocols.
Sanctum is a large project in the Solana network, which has raised about $6.1 million dollars, where investors such as Solana Ventures, Dragonfly, among others stand out.
How do we know it will airdrop?
This protocol has been preparing for the launch of its own token to attract more users to the protocol. We can know this because they won the last round of voting for projects that will be released soon on the @Jupiter 🪐 launchpad (Next to Uprock).
How can I participate in the Sanctum protocol airdrop?
Before the launch of their token, they launched a new "Wonderland" campaign, calling on all users to participate. This campaign has just started so you have time to do it.
In order to participate we have to have our Phantom wallet ready on the Solana network with at least 0.1 SOL, the more the better. For a start :
We register on the Sanctum page in the Wonderland campaign, it can be through the direct link (we both receive bonus for the referral):
sanc.tm/w?ref=UKGLPF
Or through my referral code:
UKGLPF
Image 4 As I mentioned, you need a minimum of 0.1 SOL because we will exchange this for one of the 18 liquid tokens available to participate in the current campaign (I recommend the main token INF for the benefits it gives and then distribute to the other LST tokens).
We simply have to hold any of the 18 LSTs in our #billetera . We do this entire exchange operation on the same Sanctum platform.
Image 5 3. When holding any of the 18 LST, they are assigned to a different "pet", which is also 18. Doing a quick calculation if we want to have all the pets, we would need 1.8 SOL minimum (0.1 the minimum they ask for for the 18 LST tokens).
Image 6
Once we have our liquid #token , we have to wait about 14 minutes for the dashboard to update, to be able to see the progress of the pet's levels (Maximum level 999). It is worth mentioning that this pet is not an NFT, everything is shown on the page's own dashboard.
Personally, I have focused on the LST INF token of the platform itself. This token has a bonus (unlike all the other LSTs) if you deposit them in Kamino Finance, Armada, Margin FI, Meteora or Solend, as we see in the image .
This is a good option if you are holding the SOL token, as it allows you exposure to a protocol for a future airdrop and also generates returns (INF has an APY of 9.19%). Like any Defi protocol, it also has its risks, among them we have the Depeg of the SOL token with INF (or any other LST) and a possible attack by a hacker on the protocol.
👉Do you want to continue learning about the crypto world?
Share and follow me for more 👈😎
