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Sanctum, the Solana startup focused on growing the network's liquid storage ecosystem, today launched a new primitive currency called Creation Coins.

Creator Coins are essentially liquid Solana tokens issued by Sanctum with the return given to the creators. Fans can earn loyalty points for holding Creator Coins, and creators can use these points to distribute perks. It's a new take on an old concept in the cryptocurrency space, but Sanctum believes launching with more original cryptocurrency creators could help it gain adoption where others have failed.

Sanctum is a new startup that emerged through the Solana Foundation's startup incubator this spring and promises to create an "infinite future for LST" at Solana. Its initial flagship product was called INF – a token that helps provide liquidity to a group of Solana LSTs.

It then carried out an airdrop operation that received significant media coverage and focused on “seriousness,” which sparked some controversy During the summer. Since then, Sanctum has become a bit quieter, especially Launching LSTs With crypto exchanges in Asia including Binance in early fall.

Coins are a concept that Sanctum seems to have been toying with for a while as well - co-founder FP Lee creature Liquid staking token fpSOL as a “personal LST” experiment in May.

Creator token holders are giving up their SOL revenue to support creators. Sanctum takes a small part of this too, Sanctum's anonymous co-founder J told me. J added that Sanctum's Solana's APY is around 10% on average.

In return, users earn “seeds,” which are loyalty points that can track fan investment and allow creators to offer loyalty perks.

When I asked why Creator Coins couldn't pass on some of the accumulated revenue to users while charging creators a commission, J said that giving creators all the rewards "makes economic sense right now," but this could change in the future.

One obvious target audience for creator coins is celebrities who – Like the Hock Toah girl. - They seem to keep releasing volatile memcoins that end in lawsuits or reputational damage. Cryptocurrencies may come with less immediate upside, but they also come with less risk.

However, Sanctum is not the first to try to attract creators with cryptocurrency-based loyalty programs. Jack Harlow joined the Loyalty A platform called MITH last year, for example, but it seems like other creators were somewhat slow to adopt the platform, which hasn't happened to publish On X since May. In response, Sanctum is limiting Creator Coins to only cryptocurrency creators for the time being.

“A lot of previous attempts have often failed because there's a certain disconnect between the creator and their supporters,” J said. “That's why we didn't necessarily want to get the biggest creators to launch the beta. We wanted people from Solana who were already connected and connected to their fan base.

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