Question 1

What is Cloud (CLOUD)?

Accepted Answer

Cloud (CLOUD) is the governance token of Sanctum, a liquid staking protocol built on the Solana blockchain. Sanctum is designed to allow users to capitalise on their staked Solana (SOL) assets through the creation and trade of liquid staking tokens (LSTs). These LSTs represent staked SOL, allowing users to retain liquidity while still earning staking rewards. The CLOUD token plays a central role in governing the Sanctum protocol, enabling token holders to influence decisions regarding future developments, governance proposals, and partnerships within the ecosystem.

Question 2

What is Cloud (CLOUD) used for?

Accepted Answer

CLOUD has several primary use cases within the Sanctum ecosystem. It functions as a governance token, granting holders the right to vote on protocol upgrades, validator partnerships, and decisions related to liquidity staking tokens. Additionally, CLOUD is integral to the Sanctum Verified Partner program, where prospective partners must stake CLOUD to be considered for inclusion. The token is also used within the Wonderland loyalty program, which rewards users for their participation and engagement with the protocol.

Question 3

Who created Cloud (CLOUD)?

Accepted Answer

Cloud (CLOUD) was created by Sanctum, co-founded by FP Lee, who is a key figure behind the project. FP Lee has been instrumental in the development of the Sanctum platform, which launched in 2021 with the goal of advancing liquid staking on Solana.