Sanctum

Sanctum is a Solana-based protocol designed to act as a unified liquidity layer to address the fragmentation and inefficiencies associated with an ecosystem having multiple LSTs.

Basics

• Based in:
• Started in / Announced on:
• Testnet release:
• Mainnet release:

Audits & Exploits

• Bug bounty program can be found [insert here].

Token

Launch

• From Decentral Park Capital (29-4-2024):

"Luckily for active participants in the Solana staking ecosystem, Sanctum recently won its Jupiter LFG round, to gain a spot launching on the Jupiter Launchpad, and confirmed their airdrop farming scheme, for which I was a part of its closed beta testing. This means a token is on the horizon. "

Technology

• Whitepaper or docs can be found [insert here].
• Code can be viewed [insert here].
• Built on: Solana

How it works

• From Decentral Park Capital (29-4-2024):

"The Sanctum protocol consists of three core products that facilitate this goal: (i) The Sanctum Reserve, (ii) The Sanctum Router and (iii) Infinity.

The Reserve is essentially a liquidity pool of SOL, that allows LST holders to instantly swap their LST for SOL. The Reserve then automatically withdraws the SOL from the LST-wrapped staked account and returns it to the SOL liquidity pool to replenish the reserves. Users pay an additional premium for the luxury of bypassing the withdrawal period.

Given LSTs are merely wrappers around staked accounts, and the staked accounts themselves are all identical in architecture, the Reserve is available to all LSTs, regardless of liquidity.

The Sanctum Router is a product that unwraps and rewraps staked accounts in LST wrappers, which allows for the instant swapping of one Solana LST to another. The result is that all LST liquidity is now unlocked and shared among all. The Router completely removes the dependency on the liquidity of individual LSTs, minimising slippage and enhancing user control over their staking preferences.

The icing on the cake for Sanctum is their Infinity product, a large-scale liquidity pool that encompasses various LSTs and facilitates swaps among them. Unlike the Router, these swaps occur as one simple transaction, as opposed to multiple unwrapping and rewrapping transactions, and thus are cheaper and quicker."

Fees

• From Decentral Park Capital (29-4-2024):

"Sanctum fees on each of their specific products are not yet publicly available."

Roadmap

• Can be found [Insert link here].

Usage

• From Decentral Park Capital (29-4-2024):

"At the time of writing, Sanctum boasts ~1.1m SOL in its Infinity product, making it the deepest LST liquidity pool across Solana DeFi. It should therefore come as no surprise that Sanctum facilitates ~80% of LST swaps on Jupiter."

Team, Funding and Partners

Team

• Full team can be found [here].

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