It's May Day and everyone is hungover or still drunk except me who has been plotting new airdrop strategies despite the challenging market conditions.
Today I want to share my latest find with you. Even though I'd like to say that Sanctum is a staking platform on Solana, it wouldn't be entirely accurate since you wouldn't actually stake anything there.
To take part in the Sanctum point earning system, all you need to do is acquire and hold liquid staking tokens (LSTs) that represent your staked Solana. You can stake, or buy, LSTs on many places on Solana such as Jupiter for example.
Once you have logged in to Sanctum and if you have more than the minimum amount of 0.1 of the LST, it will automatically start generating points.
🟠 Pets
Do you remember Tamagotchi?
It was this game in which you had to feed this digital thing, a pet, to keep it alive. In Sanctum, each LST is also a pet that will keep leveling up and earning you points during the time you hold your LSTs in your wallet.
These pets come in many annoying bubbly forms and have different expressions. By clicking them you can read more about their characteristics, how to get them, and about the staking platform they represent. Not that even if it says 'owned pets' on Sactum, they aren't NFTs and I guess you own the pet as long as you held on to your LST position.
🌻 More Things To Do
I'm currently holding $JupSOL which is a liquid staking token of the Jupiter platform. Even though its price goes hand in hand with regular $SOL, unlike that, JupSOL has an APY which is currently 7.64%. Not bad.
On top of that, I can use these LSTs in some defi activities to earn even more APY on the investment.
Here are some examples where I could deposit another LST I'm holding - $INF.
Many of these are lend/borrow markets and from experience, I know that the APY earned is usually minimal but the real point in lending is of course the possibility of using the assets as collateral and borrowing against those.
If someone would want to farm the Sanctum EXP points hard, they would probably apply the looping strategy for this one meaning they'd borrow more LSTs against their deposit, lend that as well and that way get more points for both lending and borrowing.
💡 Conclusion
I'm currently doing some looping on other platforms with different assets and at this point, gonna probably skip that option. That being said, just holding LSTs can be a very good opportunity.
As you might have noticed, the market is down big time, and like other altcoins, so is $SOL. I'm still very bullish on Solana performing well in the big picture and see something like Sanctum as a great platform to support my longer-term Solana vision. Buying Sol LSTs now cheaply with APY % on top of that + taking part in airdrop farming at the same time while all the time holding the assets in my wallet, well, I think that's a pretty solid choice.
Sanctum also has more gamification as you can take part in community quests to earn more perks. In addition, the pets will evolve into something in time but this seems to be still under the 'upcoming' banner.
Anyways, who knows where Sanctum itself will evolve, at least this time we are early!
Consider using my invite code, RZNQJQ, if you decide to give it a go. 🙂
💎 Bonus Alpha
As a sort of bonus, I want to share this interesting free to claim NFT on deBridge to your Solana wallet. If you're like me and using deBridge to farm their upcoming airdrop, then this is for you.
This NFT will work as a multiplier for your points-generating mission. There are different rarities and I managed to pull a legendary with a 1.3x multiplier so make sure to check it out!
Thank you for reading and make sure to check the latest ongoing airdrops below! 👇🪂🌾
More Airdrops To Farm:
🔸 deBridge — easily bridge assets across Solana & EVMs for example while farming their airdrop!
🔸 MilkyWay - stake TIA farm MilkyWay airdrop
🔸 Aperture - use as an interface to do swaps on OP, Arbitrum, Base, BNB Chain & more to get points for the airdrop
🔸 DFlow - bridge a minimum of $5 Solana tokens. (invite codes: 4H4WZ6 , DVJRVQ , 83EIC5)
🔸 Grass - perhaps the easiest way to gain exposure for a potentially very big airdrop!
🔸 Archway - join the DropCamp airdrop waitlist. (invite code: 6k50F)
🔸 GRVT ZkSync Mystery Box - just log in and claim your first mystery box
🔸 Ether.fi - stake ETH for Points & EigenLayer points
🔸 Mode airdrop - bridge ETH to farm multiple airdrops (invite code: XGNHet)
Disclaimers:
Thumbnail background image made with Canva, pictures are screenshots from Sanctum and deBridge.
This article contains referral links - remember to DYOR, and double-check URLs!