Sanctum Launches Creator Coins to Enhance Solana’s Liquid Staking Ecosystem
Sanctum, a startup on Solana, launched creator coins, liquid staking tokens that provide yield to creators. Fans earn loyalty points for holding these coins, which creators can use for perks. This initiative aims to enhance the adoption of liquid staking on Solana.
Sanctum originated from the Solana Foundation’s incubator and initially introduced INF, a token for liquidity in Solana LSTs. Following a controversial airdrop over the summer, Sanctum has partnered with Asian exchanges like Binance to expand its offerings.
Creator coins allow holders to forgo SOL staking yield to support creators, with Sanctum taking a small commission. The average staking APY for Sanctum is approximately 10%. In return, users receive "seeds," loyalty points that enable creators to offer rewards.
Sanctum's approach focuses on crypto-native creators, aiming to foster a closer connection between creators and their supporters. Previous loyalty programs have struggled due to disconnects in this relationship.