Jupiter's Second LFG Vote Concludes: Sanctum and UpRock Emerge as Winners
Record Voter Turnout: Sanctum and UpRock Secure Launch Spots in Jupiter's LFG with Over 230M Staked JUP in Votes.
- Author: Sheldon Cooper
- Published: April 22, 2024 at 12:56
- Updated: May 21, 2024 at 21:06
The second round of voting for Jupiter's Launchpad (LFG) has officially ended, with Sanctum and UpRock securing the top two spots and earning the opportunity to launch on the platform. Sanctum, a liquid staking aggregation protocol, received an overwhelming 146,758,089 votes (64% of the total), while UpRock, an idle bandwidth-sharing network, secured 45,463,495 votes (20%).
About the Winning Projects
- Sanctum: Founded in 2021, Sanctum has been a key player in developing liquid staking infrastructure on Solana. The team recently raised $6M in funding led by DragonFly and was incubated by Solana Labs. Sanctum's core focus is to boost the adoption of liquid staking across Solana, enabling greater DeFi participation. Their key products include:
- Sanctum LSTs: Validator-specific liquid staking tokens offering zero deposit/withdrawal fees and zero management fees.
- Infinity: A liquidity solution designed to facilitate efficient swaps between different LSTs.
- Jupiter partnered with Sanctum to create and deploy JupSOL. Sanctum's technology allows for deep liquidity integration, making it easy to swap into and out of JupSOL on platforms Jupiter Exchange.
- UpRock: This innovative DePIN network aims to simplify how users earn and utilize crypto assets. Here's how UpRock works:
- Earn tokens: Users can share their idle internet bandwidth to earn tokens.
- Staking: The platform offers staking options to further increase token holdings.
- Rewards: Earned and staked tokens can be redeemed for real-world perks like flights and airtime minutes.
- UpRock boasts a growing community of over 165,000 users and aims to make crypto assets more accessible and useful for everyday needs.
With Sanctum and UpRock preparing for their launches on Jupiter, the future of the LFG program looks bright. Jupiter has announced that applications for the next round of LFG introductions will begin next week, inviting new and innovative projects to join the platform and contribute to the growth of the Solana ecosystem.