Solana’s 3 in 1 airdrop strategy
Sanctum is Solana’s platform aimed at providing more flexible staking. It wants to turn all of your staked SOL tokens into something easily tradable, a special kind of token called Liquid Stake Tokens (LST). The Sanctum team hinted at an airdrop to early users. It is rumored that the Sanctum airdrop will likely be very similar to the 2023 Jito airdrop, where some users were able to win $10,000 worth of $JITO tokens by depositing 1 SOL. The Sanctum token airdrop guide is as follows:
Check out our step-by-step guide.
What is a sanctuary?
Sanctum is a project focused on strengthening the liquidity staking ecosystem of the Solana blockchain. A brief summary of Sanctum’s key features is as follows:
- mission: We aim for a future where anyone can easily access Liquid Stake Token (LST) by staking all SOL and liquidating all staked SOL.
- core features: The app includes various tabs containing core features to facilitate LST issuance and investment.
- Developer support: Provides technical documentation for developers interested in the project.
- accessibility: We strive to allow users to issue their own LST without worrying about liquidity and explore various LSTs for investment.
Sanctum recently closed a US$6 funding round led by Dragonfly Capital and other top VCs. 1 million dollars.
How do I receive the Sanctum token airdrop?
Here’s how to receive the Sanctum token airdrop:
- Obtain Solana ($SOL) tokens
Add Solana ($SOL) tokens to your Solana wallet. Solana ($SOL) tokens can be obtained from most major cryptocurrency exchanges such as Bybit or BingX.
Sign up for Bybit and get an iPhone 15 Pro Max here
Sign up for BingX to receive a sign-up bonus here - SOL Token Staking for Infinity Tokens
Connect your wallet to https://app.sanctum.so/infinity and stake your SOL tokens to Infinity ($INF) tokens. The Infinity ($INF) token is a fixed-yield asset on Solana.
- Exchange SOL tokens for Infinity tokens
On the same page as step 2 above, go to the “Swap” tab to exchange another Liquid Stake Token for an Infinity ($INF) token.
- Deposit Infinity ($INF) to Kamino Finance
Connect your wallet to https://app.kamino.finance/. In the “Loans/Loans” tab, scroll down to the INF Market. Click “Delivery” to deposit Infinity ($INF) tokens. This will help you earn points in Season 2. However, the downside is that there is no supply or the APY distributed for this cannot be borrowed. This means you will not be able to make money by supplying $INF to Kamino.
- Deposit INF into Meteora’s DLMM pool
Meteora is another liquidity hub. There are no tokens yet, but there is a possibility of holding tokens and doing token airdrops in the future. However, Meteora has a DLMM pool for INF, which you can combine with SOL to get a potential airdrop. To deposit INF into Meteora’s DLMM pool, connect your wallet to https://app.meteora.ag/ and go to the “DLMM” tab at the top of the page. Find the INF-SOL pool to deposit your tokens into. We recommend finding the deposit pool with the highest volume and TVL.
However, when depositing into Meteora’s DLMM pool, be aware of the risk of impermanent loss and remember to actively monitor your positions.
- Alternative: Deposit into Meteora’s regular pool
For a slightly lower risk alternative to DLMM pools, you might consider using regular pools in Meteora. This can be found in the “Pools” tab. However, if you use a regular pool, you need to know the virtual price value, which represents the value of your deposited LP tokens. The virtual price indicates whether you make or lose money with your LP tokens. If the virtual price value is greater than 1, you are making money from fees. For example, a hypothetical price value of 1.003 means that you are effectively earning 0.3% of the fees from this pool. On the other hand, if the virtual price value is less than 1, it means you are losing money on your LP tokens.
However, you should actively monitor your positions in pools where you have deposited assets on Meteora or any other protocol.
