Chill Guy is a viral meme illustration that took social media by storm before a crypto project used the meme to launch a Solana-based token. Learn more here.

What started as a simple illustration of a laid-back dog has become a global meme sensation, with the cartoon character known as Chill Guy dominating both social media trends and cryptocurrency markets. Created by artist Phillip Banks in October 2023, the easygoing canine character sparked a viral movement that has attracted major brands worldwide.

This article follows Chill Guy’s transformation from a social media sensation to a cryptocurrency asset. We'll examine its viral beginnings, community growth, market impact and what potential investors can expect from CHILLGUY in the future.

 is a viral meme illustration by artist Phillip Banks, depicting a laid-back dog in casual clothes whose easygoing attitude took social media by storm before a crypto project used the meme to launch Just a Chill Guy as a Solana-based token.

What Does Just a Chill Guy Aim to Achieve?

The CHILLGUY meme coin aims to spread a "Why worry?" philosophy into cryptocurrency markets by embracing the laid-back, stress-free attitude that made the original meme go viral. The project transforms this easygoing vibe into a community-driven token, where being low-key isn't just a catchphrase — it's a shared mindset among holders.

The CHILLGUY community brings this philosophy to life by sharing endless variations of the CHILLGUY meme across social platforms. Through market swings and viral trends, CHILLGUY keeps his iconic pose: hands in pockets, subtle smirk, perpetually relaxed.

Just a Chill Guy (CHILLGUY) operates as a Solana Program Library (SPL) token on the 

 blockchain, leveraging the network's ultrafast speeds and low costs to ensure smooth trading. The token was created using Pump.fun, a specialized platform that lets users launch Solana-based tokens without any fees, removing traditional barriers to token creation.

CHILLGUY is a community takeover (CTO), meaning it's completely owned and directed by its token holders with no central team in control. This decentralized structure ensures the project stays true to its community-driven nature, its holders collectively guiding its future while embodying the laid-back spirit of the original meme.

The CHILLGUY token launched with a maximum supply of 1 billion tokens, of which 999,965,435 are currently in circulation. This near-complete distribution of tokens to the market supports active trading and community participation.

What makes CHILLGUY's tokenomics particularly notable is its widespread distribution across more than 142,000 unique holders (as of Nov 27, 2024), achieved in just 12 days. This rapid expansion of its holder base demonstrates strong community adoption and aligns with the project's decentralized, community-driven principles.

CHILLGUY has exploded across social media, especially on TikTok, where the meme has amassed hundreds of millions of views. Its laid-back character resonates with users worldwide, inspiring countless creative adaptations.

Major brands worldwide have embraced CHILLGUY in their marketing campaigns. From Sprite Europe to NFL on CBS, the character has resonated across mainstream media, even catching the attention of global figures like El Salvador's president Nayib Bukele.

The “Chill Guy” meme’s influence spans multiple social media platforms, with a growing community of followers: 96.6K on X (

). On the other hand, the meme token itself also has a vast community, with 39.9K on X (

) and an active Telegram channel of over 15,000 members. These numbers reflect the meme's ability to engage audiences across different platforms.

The token's popularity in cryptocurrency markets matches its social media success, with CHILLGUY maintaining a substantial 24-hour trading volume of over $330.03M as of Nov 27, 2024. This high trading activity demonstrates the strong market interest in CHILLGUY beyond its meme status.

Looking to trade Just a Chill Guy tokens? Bybit now offers the CHILLGUY/USDT Spot trading pair and CHILLGUYUSDT Perpetual contract. To get started, you’ll first need to create a Bybit account, then fund it with cryptocurrency and navigate to the 

While CHILLGUY has maintained strong trading volumes and continues gaining mainstream attention through its viral social media presence, investors should carefully weigh its strengths and risk factors before making investment decisions.

With its widespread brand adoption, sustained trading activity and explosive community growth of over 142,000 holders, CHILLGUY demonstrates significant market potential. However, meme coins are inherently volatile. Potential investors should 

 and invest no more than they can afford to lose.

CHILLGUY is the latest viral sensation to harness the power of the attention economy to convert social media momentum into crypto market success. While CHILLGUY has already demonstrated its ability to capture mass appeal, its position as a leading meme token will depend upon how effectively it maintains its cultural relevance and community engagement in this fast-moving market.

Intermediate

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Just a Chill Guy (CHILLGUY): Embracing the Art of Nonchalance

Zircuit (ZRC) combines optimistic and ZK rollups with AI-driven security, offering fast, low-cost Ethereum Layer 2 solutions. 

 network has flourished, mainly due to the ongoing network congestion, high fees and poor scalability of the latter. Many of these platforms use rollup technology, whereby batches of multiple transactions processed off-chain are bundled together and posted in bulk to the underlying Layer 1. Ethereum-linked rollups mainly come in two varieties 

 (ZK). While optimistic rollups boast lower computational overhead, the ZK variety of these networks features a higher degree of security.

Zircuit (ZRC) is a Layer 2 chain that adopts a hybrid approach, combining the elements of optimistic and 

. This lets the platform offer the performance benefits of optimistic technology along with the security of ZK validity proofs. To further enhance overall security, Zircuit uses a unique 

 (AI)–driven system of monitoring for malicious transactions.

 (ZRC) is a hybrid Layer 2 blockchain that combines the features of optimistic and ZK rollups, and uses AI-driven monitoring for potentially harmful transactions. 

 rollup development technology, a popular framework for building optimistic rollup networks. Additionally, it uses zero-knowledge proofs, which lets the platform offer the best of both worlds 

 the performance benefits of optimistic rollups and the security of ZK technology. Zircuit is 

The Zircuit project takes security very seriously, and has introduced a unique system of AI-based protection against malicious transactions at the sequencer node level. The use of ZK proofs and an AI-based protection system make Zircuit one of the most secure platforms in the competitive world of Ethereum Layer 2 chains.

Along with its excellent security benefits, Zircuit also boasts low costs, fast transactions, excellent scalability and 2-second block production intervals. All these features make it an ideal environment for 

 (DApps) in various niches, particularly 

 (DeFi). In fact, the leading protocols within the Zircuit ecosystem are all dedicated to the finance niche, with Zircuit Staking being the largest application by TVL.

With its heavy focus on DeFi, Zircuit aims to become a leading liquidity hub for various token types within the sector, including 

. These assets can be staked through the Zircuit staking program — supported by the platform's Liquidity Hub — to earn staking APRs, airdrop rewards and points based on the Zircuit Point program (covered further in our article).

The platform also operates a secure native bridging solution, 

, to help users transfer assets between its Layer 2 network and Ethereum Layer 1.

The company behind the project, Zircuit Ltd., was founded in 2021 in Canada by Dr. Martin Derka, Jan Gorzny and Angel Xu. Zircuit's testnet was launched in November 2023, but made headlines in April 2024 when the project reported that its 

 (TVL) had soared past $2 billion. While testnet TVLs are more a gauge of future potential for a blockchain than an indicator of its existing worth, the news attracted the attention of industry observers toward the platform. Following its highly publicized testnet success, Zircuit launched the first phase of its mainnet in August 2024. This was followed by the launch of the platform's native token, ZRC, in November 2024.

As a typical rollup, Zircuit uses an off-chain sequencer node to batch and organize Layer 2 transactions for subsequent posting to the underlying Ethereum Layer 1. The batches have ZK validity proofs attached to them to signal to Layer 1 validators that they’re free from fraudulent transactions. Zircuit's architecture also includes prover nodes, whose job is to produce these validity proofs.

However, unlike other rollups using ZK proofs (also known as validity proofs), Zircuit doesn't generate validity proofs for every block of transactions. Instead, some blocks have pre-generated template proofs, while others go through the process of having a dedicated validity proof created for them. After a few blocks featuring validity proofs, there are several more that utilize template proofs. The image below illustrates this approach.

The key reason Zircuit has adopted this form of proof design is that the process of generating ZK proofs is computationally intensive. By using template proofs for some of the blocks in a sequence, Zircuit can reduce the overall computational overhead. However, the project’s team has stated that the template proof model is temporary, and will be phased out in the future. At that stage, the platform will move to generating ZK proofs for each block.

Zircuit features a highly modular design whereby provers — responsible for generating validity proofs on the platform — can easily be plugged into or removed from the network. This modular approach is distinct from the standard ZK rollup design, in which provers are more tightly and less flexibly integrated into the overall architecture.

As noted earlier, Zircuit uses a dedicated sequencer to organize and batch transactions into blocks. The platform also applies AI-driven monitoring at the sequencer level (the Sequencer Level Security, or SLS) to spot and exclude fraudulent transactions before they’re finalized on Layer 2.

When transactions are first posted to Zircuit, they enter the 

 — a temporary area from which the sequencer picks and organizes individual transactions into blocks. The mempool is being monitored at all times, using AI algorithms to identify suspicious transactions. If a transaction in the mempool raises a flag, it's quarantined and assessed for validity before the sequencer can include it in a block. The image below shows how this process works.

One of the distinct features of Zircuit is its hybrid architecture, which combines the properties of optimistic and ZK rollups. At the base level, Zircuit is built using Optimism's Bedrock development framework, a technology popular for optimistic rollup networks. However, the use of ZK proofs — or, to be more precise, a combination of validity proofs and template proofs — ensures that Zircuit enjoys a security level that standard optimistic rollups normally can't match.

The use of AI-based SLS provides robust security to Zircuit, complementing the already highly secure ZK proof system. Very few Layer 2 networks in the industry currently feature anything similar, making the platform a true pioneer of AI use for sequencer-level operations.

Like any rollup based on Optimism Bedrock, Zircuit enjoys EVM compatibility. This allows for smooth interoperability with the underlying Ethereum Layer 1. EVM compatibility also makes it easy for developers familiar with Ethereum’s environment to develop Zircuit-based DApps, or to port existing Ethereum applications to the platform. Developers can take advantage of technologies commonly used for Ethereum (e.g., the Solidity programming language and the Hardhat development framework) to build Zircuit applications and smart contracts.

Zircuit Bridge is a native bridging solution designed to easily transfer tokens between Ethereum and Zircuit. It boasts high security, low transaction fees and fast transfers, and allows users to move a variety of cryptocurrencies between Ethereum and Zircuit, including ETH, 

) and LRTs like Super Symbiotic LRT (weETHs). As of late November 2024, the total number of cryptos supported by the bridge is close to 30.

Zircuit has launched a reward program called Zircuit Points. Users can earn these Points by staking supported assets, and by participating in the Build to Earn initiative (more on this below). Accumulated points will be converted to ZRC tokens in the future. Points also create the opportunity to qualify for token airdrops.

The primary way for most users to earn Zircuit points is via 

. The Zircuit Staking program lets you stake LSTs, LRTs, popular stablecoins, some wrapped tokens and Ether (ETH) to earn points. Using LSTs and LRTs, you can earn yields (along with native Zircuit staking APRs and Points) from the respective staking and restaking platforms that issue these assets.

Zircuit Points earned via staking have different multipliers, depending upon the asset. For example, Ether has a multiplier of 0.5, while LSTs, LRTs and stablecoins have a multiplier of 1. Multipliers for different LST and LRT assets may be subject to change in the future.

Build to Earn is another way to qualify for Zircuit Points. The program allows developers to contribute to the Zircuit ecosystem and earn Points in a number of ways, including:

Launched in November 2024, ZRC is the platform's native cryptocurrency. It's an 

 asset deployed on both Zircuit and Ethereum Layer 1. ZRC is mainly used for reward distributions, and participation in token airdrops for ecosystem DApps. Currently, transaction fees on the network are paid in Ether. It's possible that, in the future, ZRC might be used for some transaction fee payments.

ZRC is also used for rewards under the Gas Rebate program. As users conduct transactions on the platform, they 

. Zircuit’s Gas Rebate program provides rebates to offset some of the incurred fees. The amount of ZRC earned as a rebate is proportional to the amount spent on gas in ETH; the project's documentation states that for each ETH spent on gas, the user earns 125% in ZRC. All kinds of gas fee payments qualify for the rebate, including ordinary asset transfers and transactions involving interaction with Zircuit DApps.

ZRC is a supply-capped token, with a maximum and total supply of 10 billion. The token's supply allocation shares are as follows:

The ZRC token is available on Bybit's Spot market as a swap pair with USDT (

 to grab a share of the 5 million ZRC prize pool. New users who sign up for a Bybit account and complete identity verification can earn ZRC rewards by accumulating a deposit volume of at least 2,000 ZRC, or by depositing 100 USDT and trading 100 USDT worth of ZRC via their first trade with Bybit. 

Meanwhile, existing users can qualify for ZRC rewards by trading at least 500 USDT worth of ZRC on the Bybit Spot market, with the possibility of earning up to 10,000 ZRC based on trading volume. The 

 event will run through Dec 10, 2024, 8:59AM UTC.

Zircuit is among the pioneering Layer 2 platforms to adopt a hybrid design for a rollup network. Thanks to the platform's architecture, users can take advantage of low transaction costs, fast transfers and great scalability while enjoying the benefits of high security delivered by ZK proofs and AI-driven mempool monitoring. AI-based monitoring for fraudulent transactions is a particularly notable feature of the platform and is undoubtedly among the most advanced technologies employed in the blockchain industry.

User security combined with faster and cheaper transactions for the Ethereum network — all in one package — is now feasible, thanks to Zircuit's innovative technology and unique approach!

Advanced

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What Is Zircuit (ZRC): Where Performance Meets Cutting-Edge Security

Bybit is celebrating its sixth anniversary with the #Super6Bybit event, offering a $1.2 million prize pool and focusing on its bbSOL token.

Daily Top Performer — Virtuals Protocol (VIRTUAL)

On Wednesday, the S&P 500 fell 0.38% as tech stocks dropped and inflation data reinforced a hawkish Fed outlook. Coindesk Indices, an index measuring broader cryptocurrency market performance was down by 0.40%, with Bitcoin and Ether dropping by 1.86% and 1.79%, respectively in the past 24 hours.

Today's top performer is VIRTUAL, which surged 53.6% following the launch of the $MUSIC token by Agentstarter, featuring AI-driven music video capabilities and community-focused tokenomics.

Virtuals Protocol (VIRTUAL), founded in 2021, allows users to invest in and co-own AI-driven virtual assets like companions and influencers. Its model fosters community ownership, transforming AI agents into revenue-generating assets across platforms like Roblox and TikTok. The platform attracts contributors from AI and gaming to drive innovation in virtual economies. 

, using AI to create music videos and offering features like animated videos, voice mimicry, and karaoke tracks. The tokenomics allocate 60% for airdrops, 20% for liquidity, and 10% each for the development team and Virtuals Protocol.

Check Out the Latest Prices, Charts, and Data of 

Bybit is celebrating its sixth anniversary with the 

, offering a $1.2 million prize pool and focusing on its bbSOL token. Launched in September 2024, bbSOL is the first exchange-backed Liquid Staking Token on Solana, providing liquidity and staking rewards. The campaign, running from November 28, 2024, to January 6, 2025, invites participants to build, transform, and supercharge their bbSOL through tasks, leaderboards, and community milestones, increasing rewards. The event combines gaming mechanics, community engagement, and opportunities to win prizes while promoting innovation and growth in the crypto space.

Yesterday, there were no flows in BTC Spot ETFs, including GBTC and non-GBTC categories.

. Stake BNB on Lista's portal to get slisBNB, then deposit it into Astherus to earn airdrop points with multipliers (3X for Lista, 1.15X for Astherus). No lockup is required, and slisBNB is the most efficient option.

Beginner

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Bybit Celebrates 6th Anniversary with $1.2M Prize Pool and bbSOL Supercharging Campaign

Our weekly crypto derivatives analytics report delves into macro events, the current state of crypto and trading signals from spot trading volume, and futures, options and perpetual contracts.

ETH has outperformed, bolstered by SEC Chair Gary Gensler's announcement of his Jan 20, 2025 departure, and suggested by growing open interest in ETH perpetual. This positive momentum extends to several large-cap altcoins previously scrutinized by the SEC, as indicated by bullish funding rates for long positions.

Please check out the report’s highlights.

ETH Open Interest Grows While BTC’s Declines

ETH is outperforming BTC following the announcement of SEC Chair Gary Gensler’s departure, as evidenced in perpetual swap markets. BTC open interest has decreased from last week's highs, while ETH contracts have increased. Additionally, ETH trade volumes constitute a larger share of daily trading as compared to much of the past six months, despite an overall dip in trade volumes this week. The gradual decline in BTC open interest, without a surge in trading activity, indicates a strategic repositioning, rather than a wave of liquidations.

BTC Option Curve Inversion Deepens as Price Retreats

The pullback in the spot BTC price from the $100K target has led to a flat ATM volatility term structure, with short-tenor options dropping below 60%. 

This trend continues the correlation between term structure inversion and BTC spot price returns observed since the U.S. election on November 5, 2024

. The decline in front-end volatility aligns with lower realized volatility levels. While demand for short-tenor options has moderated, there hasn't been a notable change in open interest for calls or puts. Instead, their growth has stalled at the week's start.

Sentiment in ETH options markets seems moderately more bullish than in BTC's during the recent decline in momentum from the post-election rally. Call options lead in both trading volumes and open interest. 

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Bybit X Block Scholes Crypto Derivatives Analytics Report (Nov 27, 2024): Signal on ETH Outperformance Against BTC Surfaces on Long-Term Contracts

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Sanctum is a Solana-based liquid staking protocol featuring a multi-LST liquidity pool and token swaps.

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 (ETH) back in 2021 led to an explosion in the number of 

 protocols on its blockchain. Due to the inflexibility and high capital requirements of direct Ethereum staking, the liquid staking sector flourished, quickly becoming one of the leading niches within the 

 (DeFi) industry. Popular thanks to their affordability and flexibility, these protocols offer liquid staking tokens (LSTs), also known as 

 (LSDs), as a confirmation of your staked funds, and LSTs can be freely reinvested within the DeFi pools and solutions of the Ethereum ecosystem and beyond.

Sanctum (CLOUD) is a liquid staking protocol that’s taken the concept of LSTs to the 

 (SOL) ecosystem. Although Sanctum isn't the first liquid staking protocol on Solana, it has introduced several innovative solutions in this area, the most notable of which is a multi-asset liquidity pool that aims to provide virtually limitless liquidity for Solana LSTs. By offering a highly flexible, multi-LST liquid staking environment, Sanctum opens up unique opportunities for the Solana DeFi user community.

 (CLOUD) is a liquid staking protocol on the Solana blockchain that introduces the concept of a shared multi-LST pool to provide limitless liquidity levels for Solana LSTs. 

Sanctum allows users to contribute SOL coins and whitelisted Solana LST assets to the platform's liquidity pool, in order to earn yields and provide liquidity to Solana-based DeFi protocols. If you’ve staked your SOL with a Solana validator, Sanctum also allows you to convert your staked funds into supported LSTs or instantly unstake them.

The origins of Sanctum go back to 2021, when the Unstake.it liquidity protocol was launched. Supported by Solana Labs, Unstake.it (now known as Sanctum v0) was a solution based on a single-asset (SOL) liquidity pool. In March 2024, the project’s team announced a rebranding of Unstake.it to Sanctum, with overhauled functionality that supports multi-LST liquidity provision and trading. The new project launched its native 

Sanctum is a novel project within the Solana DeFi space. Although it isn’t the first liquid staking protocol on the blockchain, it offers a unique set of functions that lets users contribute liquidity in multiple LSTs and trade these tokens.

Controlling issued and traded LSTs on the platform is highly secure, with a 10-member Multisig group jointly making decisions on the liquid tokens' introduction, structure, changes and upgrades. Key decisions must be approved by at least six out of 10 group members. The members of the Multisig group are reputed institutional entities affiliated with the Solana ecosystem, including providers such as the 

 swap aggregator, the SolBlaze liquid staking platform and the 

Following the popularity of Ethereum-based liquid staking, new projects applying the same concept on the Solana blockchain have emerged. However, most of these projects provide only the most standard liquid staking functionality, issuing LSTs in exchange for SOL liquidity and allowing their liquid tokens to be used on various Solana DeFi protocols. While providing a much-needed contribution to the staking process on the network, these projects, unlike Sanctum, aren't designed to provide deep liquidity across the entire Solana ecosystem.

Although Solana boasts stellar technical capabilities, including rapid 400 millisecond block times, the chain has faced challenges due to the influx of 

 and DeFi protocols seeking to take advantage of its low fees. The rush of these projects has caused network congestion and outages, with validator nodes struggling to cope with the loads.

Sanctum's multi-LST liquidity pool is designed to open up virtually limitless — or at least considerable — liquidity levels directly involved in supporting the staking process. This should help ease the load and increase the provision of validator services on the network.

Another critical issue with the process of staking on Solana is the slow release of unstaked funds. It may take up to three days to unlock staked SOL and have the funds returned to the user. While a period of a few days may not sound too long, it's often critical for many stakers, who tend to be active DeFi users, to have their funds available as quickly as possible. Every minute their funds are staked on Solana means loss of opportunity to these crypto users. Sanctum directly addresses this issue by supporting an instant unstake function.

The Infinity Pool, Sanctum's multi-LST liquidity pool, is the primary mechanism supporting liquidity provision on the platform. Users can deposit certain whitelisted LST assets (more on these later) or SOL tokens to earn staking rewards and support the liquidity requirements of the Solana ecosystem.

 for these LSTs and SOL tokens. When you buy an LST asset using SOL, you effectively start liquid staking using the LST. Similarly, selling an LST for SOL means withdrawing from a staking position for that liquid asset/protocol. Swap operations are enabled either through Sanctum Router or through the Jupiter exchange. When Sanctum handles an LST-to-SOL operation through its own router, a fee of 0.01% of the transaction amount is charged.

Users who have staked SOL on a Solana validator in the past usually have what’s known as a staking account. This type of account exists outside of the Sanctum platform. The Sanctum protocol allows you to convert your Solana staking account into a Sanctum-based liquidity staking account. This has a couple of benefits. First, you can unstake your funds using Sanctum's Instant Unstake functionality. Secondly, you can easily convert your SOL stake into a supported liquid staking token.

Sanctum’s Infinity Pool — thanks to its multi-asset composition — enables liquidity provision and token swaps across the LST assets supported by its platform, as well as Solana's native SOL tokens. Depositing an LST or SOL into the pool is completely free. When you add liquidity to the pool, you’re issued INF tokens (see below) to confirm your deposit.

The INF token, which acts as a form of your certificate of deposit, is an asset that accrues 

 from your staked position in the Infinity Pool. INF can be used for Solana-based DeFi activities while you earn your yields. When you decide to withdraw your funds, you simply sell your INF and receive your investment back, naturally with all the accrued interest. Besides obtaining INF tokens by adding liquidity to the Infinity Pool, you can also purchase INF via Sanctum's token swap section using SOL or a supported LST asset.

Sanctum Validator LSTs are custom liquid tokens issued by network validators. Validators can use these assets to incentivize stakers and run their own loyalty programs and campaigns. These LSTs combine the benefits of direct staking — no fees and the ability to choose your own validator — along with the benefits of liquid staking, namely flexibility, instant unstake and opportunities to reinvest in Solana DeFi protocols. Validator LSTs are part of the infinite LST future concept, whereby everyone can issue their own LST, promoted by Sanctum.

 is a SOL liquidity pool that can facilitate instant LST unstaking for any liquid asset supported by the Sanctum protocol. With a growing number of LST tokens, one potential issue that may arise is the ability to unstake these tokens into SOL, particularly at times of high demand for the unstake service. Also known as the Reserve, it’s designed to protect from any such liquidity crunch by retaining enough SOL to meet the needs of unstakers.

As mentioned above, Sanctum swap operations are channeled either through the Jupiter 

 (DEX) or through Sanctum's own Sanctum Router, which balances liquidity for different LSTs to meet users' demands when converting their liquid tokens into SOL. The Router reallocates liquidity so that LSTs with low liquidity levels aren't adversely affected when users need to swap them for SOL. In order to provide optimally enhanced liquidity levels, the Router has access to certain Solana-based DEX platforms, specifically Orca (ORCA) and 

What Is the Sanctum Governance Token (CLOUD)?

Sanctum's native token, CLOUD, was launched on Jul 18, 2024. CLOUD is officially designated as a governance token. Following the platform's rebranding from Unstake.it to Sanctum, the project’s team announced plans to establish a 

 (DAO) that will handle the platform's governance processes. As of mid July 2024, precise details of the DAO have yet to be released. It's widely expected that holding or staking CLOUD will entitle users to participation in the DAO.

Prospective participants in Sanctum's Verified Partner program will need to stake CLOUD in order to be considered. The program allows verified LST issuers to have their assets included in the list of tokens eligible for the Infinity Pool. CLOUD holders will vote on which partners to accept into the program.

CLOUD is a supply-capped token with a total and maximum supply of 1 billion. Of this supply, 10% (100 million CLOUD) is allocated to a launch

 that went live on Jul 18, 2024, the day of the token generation event (TGE).

Overall allocation of the CLOUD supply is shown in the chart below.

The CLOUD token is available on Bybit's Spot Market 

. In addition to standard swaps, the token can be used with 

 to help you optimize your trades and take advantage of our automated grid trading opportunities.

Several LSTs have proved popular on Sanctum and within the wider Solana community. Below are the five assets that form the backbone of the LST ecosystem on the Sanctum platform.

JupSOL is an LST representing SOL funds staked on Jupiter exchange's validator. Jupiter is among the leading DEX platforms on Solana. It aggregates liquidity to provide the best swap rates available on Solana. Besides acting as a DEX, Jupiter also runs its validator node on the Solana network, helping secure the blockchain and enable its operations. It's not unusual for large DEX platforms to run their own validators on a network. Large reputed validators such as the Jupiter Validator tend to attract significant staking funds, and running a validator also provides reputational benefits to DEXs and other DeFi protocols.

bonkSOL is an LST representing SOL staked on the 

 validator node. Operated by Jito Labs, the BONK validator supports the ecosystem revolving around the popular BONK meme coin. Launched in late 2022, BONK is among the earliest Solana meme coins. It's one of the cryptos that eventually led to Solana becoming a leading host platform for meme coins. 

Despite the recent influx of highly popular and widely hyped new Solana meme coins, BONK retains a leading position in the niche and is currently ranked as the second-highest-cap Solana meme coin asset.

dSOL is an LST of the Drift Validator, a Solana validator node that belongs to the 

 protocol. The protocol is among the most popular Perpetual trading platforms on Solana. As of Jul 24, 2024, it's ranked first among Solana-based derivatives protocols 

. Staking SOL on the Drift Validator and receiving dSOL will soon have one unique benefit: the ability to use dSOL as collateral on the Drift protocol.

jucySOL is an LST of the Juicy Stake validator node. Run by Knox Trades, the validator is linked to the Juicy Stake protocol, a multichain platform that provides validator and staking services on a variety of PoS blockchains. Besides Solana, Juicy Stake also services Ethereum, Sui (SUI) and Aptos (APT).

cgntSOL is an LST representing SOL staked on Cogent Crypto, one of the earliest and most reputable validator nodes on the Solana blockchain. As a trusted member of the Solana validator club, Cogent Crypto has featured superior staking returns and stellar security measures. When staking your SOL on this validator, you can be certain that your funds are protected using the most advanced security measures available to Solana validators.

Over the years, Cogent Crypto has also contributed to the body of knowledge within the Solana community by developing a variety of calculator apps, such as a validator profit calculator, a lending APY calculator and an 

Liquid staking, first popularized on Ethereum, is now an area of active growth on Solana. Sanctum occupies a unique position in this niche, being a protocol that offers something more than the standard staking service - the ability to issue custom LSTs, such as validator-bound LST assets, and importantly, the idea of creating limitless liquidity for LST tokens across the entire Solana ecosystem. The platform's multi-LST Infinity Pool and liquidity-balancing router are among the most innovative mechanisms offered on Solana.

Sanctum’s Solana-based liquid staking protocol has just launched its native governance token, CLOUD, and a lot of its platform’s potential will be realized over the coming months and years. As Solana grows and its network demands more reliable validator services, the Sanctum protocol will undoubtedly support this growth with its unique offerings and flexible products.

Sanctum (CLOUD): Unlocking the Future of Liquid Staking on Solana

Grab Up to 5,000 USDT in Rewards

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