The Sanctum project is a decentralized finance (DeFi) platform built on the Solana blockchain that focuses on liquid staking tokens (LSTs). It offers risk-free yields on Solana through its algorithmic liquid staking protocol, allowing users to deposit LSTs to earn yields and trading fees.
Sanctum supports over 10 LSTs and has a traded volume of $820M, with the goal of launching millions of new LSTs on Solana. The platform powers swaps on Jupiter and Solflare, two popular DeFi platforms on Solana.
They closed a small seed extension round on April 3, 2024, raising $0.35M. This brings their total funds raised to $6.1m. The round was led by Dragonfly, with participation from Solana Ventures, CMS Holdings, DeFiance Capital, Genblock Capital, Jump Capital, Marin Digital Ventures, and others.
