CLOUD: The Sanctum Governance Token

Introducing CLOUD

SOL is used for governance (validator voting on SIMDs) and to control a scarce resource (blockspace).

To start, CLOUD will control capital, and more importantly, attention. Prospective partners will need to stake CLOUD to qualify for the Sanctum Verified Partner program, and CLOUD holders will vote on which partners make it in. These partners will be lavished with attention as we craft custom pets, quests, and more for their LSTs. And of course, CLOUD will take pride of place in Wonderland S2.

Sanctum's vision will grow exponentially over the months and years. There will be a lot of possible utilities for CLOUD over Sanctum's many new products as we grow to become a cornerstone of the world economy.

Tokenomics

Ticker: CLOUD

Total supply: 1,000,000,000 (1B)

Launch Liquidity (20%)

20% of the total supply will be unlocked at launch. 10% will be given in the initial airdrop, and 10% will be used to seed liquidity in the LFG launch pool. The proceeds and any unsold tokens will go to the Strategic Reserve.

Community Reserve (30%)

30% of the total supply will be governed by the community. The community reserve should be used strategically to grow the pie (via future airdrops, active staking rewards, grants, etc.), although the community decides what to do with this at the end of the day.

Strategic Reserve (11%)

11% of the supply has been allocated to the Strategic Reserve, which will be used by the team to grow the Sanctum ecosystem. It is earmarked for future acquihires, strategic investors, LST partners, grant recipients, loans to market makers, on-chain liquidity, and so on.

Team (25%)

25% of the supply has been allocated to founders and core contributors, who have been building Sanctum for more than three years.

Investors (13%)

13% of the supply has been sold to investors. We sold some tokens at 50M and some at 60M, most of them back in 2021. Full details here.

Jup LFG (1%)

1% will be given to Jupiter LFG.

Token Emission Schedule

We have worked on Sanctum for three years, including throughout the bear market. We take an appropriately long-term perspective.

All team and investor tokens unlock over 3 years with a 1-year cliff. That means that 33% of the tokens will unlock 1 year after TGE, while the other 66% will vest linearly over 24 months after the cliff. All team and investor tokens will be fully vested 36 months after TGE.

Token Launch

We're doing a truly public token launch via Jupiter's LFG launchpad to ensure that CLOUD gets into the hands to the right people in a transparent, decentralised, and fair manner. Uniquely, LFG gives everyone the same opportunity to get the token, no matter who you know or how deep your pockets are. Regardless of  VC interest recently, we have turned them down in favour of them buying it at launch like everyone else.

Our curve will start at $50m, the valuation of our seed round, which means that buyers will get an opportunity to get in at the same price as our seed investors. [EDIT: The Curve will now start at $1m FDV]

More detailed dives on the launch will come out this month!

What's Next

For the next few weeks, the process will be incredibly public - expect:

• 
  deep dives with the Jupiter and Meteora team on LFG curve design,
• 
  a special edition of a Jupiter Planetary Call,
• 
  Sanctum Profile tool,
• 
  a reveal of our airdrop eligibility,
• 
  several more long essays, and
• 
  airdrop eligibility and claiming tool.

Disclaimer

Sanctum will keep you informed of the launch airdrop and token generation event process. Note that Sanctum contributors will never approach you, ask you for personal information or ask you for money.

We strongly advise our community members to exercise caution and be wary of potential scams or illegitimate pages. Sanctum and community moderators will never message you first or ask you for personal information or private keys.https://learn.sanctum.so/blog/cloud-the-sanctum-governance-token