Sanctum plans to launch staking for its governance token, CLOUD, later this month, according to an official announcement.

Solana (Sol) Ecosystem Liquid Signature Token Protocol Announce Upcoming support for cloud storage is via X, with the cryptocurrency service noting that it will launch this month.

Sanctum has grown into one of the largest Solana protocols, gaining popularity with investors farming its tokens. The platform launched its governance token, CLOUD, in July 2024, with a total supply of 1 billion tokens.

Sanctum powers Solana's liquid harvesting ecosystem by allowing users to stake SOL locally to access the ecosystem's unified liquidity layer. according to DeFiLlamaThe total value held in Sanctum's infrastructure stack is currently $1.58 billion.

The protocol expanded its DeFi offerings in 2024 with the launch of two major products: Sanctum LSTs and Infinity. The Infinity product allows for LST-to-LST swaps, enabling users to deposit SOL or any LST and profit from both trading fees and staking rewards aggregated across the ecosystem.

Sanctum has secured $6.1 million in funding, including from a seed extension round. The round attracted major venture capital firms such as Dragonfly, Sequoia, Solana Ventures, and DeFiance Capital. Additionally, notable founders and angels participated in the Solana ecosystem, including BOOGLE Syndicate, Drift Protocol, Squads, and MRGN.