Anyways. We're raising to make Sanctum single and multivalidator and router and etc but make it entirely permissionless, and Jupiter will route probably once 500k in TVL, more or less.
This raise did not reach its goal. All committed USDC is being returned to contributors. to claim your refund.
Important clarification: Hey cloudfam, there was a bug that allowed for a random permissionless proposal to be put up.
That is not an official proposal or vote, and has been removed.
All Sanctum Governance votes will only go live through the official process - 1) proper proposal live on the Forum, 2) with a deliberation process, 3) vote properly announced through Sanctum social channels, and 4) only official proposals will show up on our UI.
Thank you!
intention: stacc made a permissionless proposal to increase the ecosystem adoption of lsts by having sanctum revise their existing jupiter amm implementation to be much more inclusive this would mean any lst of any kind on solana's accepted lst programs, including solana labs' and sanctums', would be immediately routable on jup, have a price in wallet devs like stacc could ship product like http://fly.inc without the need for an intermediary amm like ray, which causes an unfair price imbalance as every1 really should be minting/redeeming in the stake pool rather than a third party what happened: sanctum calls the permissionless access to their futarchy a bug, refuses to honor the outcome of the futarchic proposal, chooses to instead tell everyone to use a gated and permissioned process what this leads me to think: sanctum and probably every other project currently making use of futarchy are doing it to abuse the hype and boost their token value by extracting rather than actually playing the game the way it was designed to be played. fair play, but this burned me out pretty bad. If there's no reason to be on futarchy, don't be on futarchy barring them making this very easy change to their processes the only way to get ecosystem adoption for this thing would be to write our own implementation for jupiter and have it integrated, which meh may be possible but there's been 0 engagement from jup team in dms or on the tl to this effect as of yet I just wanna give up, man
https://x.com/STACCoverflow/status/1897696471216005149
MetaDAO Futarchy doesn't work and I have proof; the proof is in the pudding. Some people really are just agents of chaos, eh?
The DAO owns any and all IP staccoverflow does related to Sanctum LSTs only in the event of mainnet forks of Sanctum onchain free and opensource programs.
The team can spend up to this amount per month from the treasury without a governance proposal. Larger expenditures must be approved by token holders.
Team tokens are locked for an 18-month cliff. After the cliff, the team can trigger a 3-month TWAP evaluation. Tokens unlock in 20% tranches at each price milestone relative to the ICO price of $0.12.
| Tranche | Price Target | Unlocked |
|---|---|---|
| 2× ICO price | $0.24 | 20% |
| 4× ICO price | $0.48 | 40% |
| 8× ICO price | $0.96 | 60% |
| 16× ICO price | $1.92 | 80% |
| 32× ICO price | $3.84 | 100% |
Each tranche unlocks 20% of team tokens. The price target is measured via a 3-month time-weighted average price (TWAP) to prevent short-term manipulation.
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