Market Metrics

Total Crypto Market Cap: down 2.2% to $2.376T
Total AI Sector Market Cap: down 7.8% to $19.3B

Top Movers (24 hours):

📈 Optimus AI (OPTI): up 25.4% to $0.258
📈 Arbius (AIUS): up 11% to $72.35
📈 Covalent (CQT): up 5.4% to $0.174

Daily News

🟠 Hardware onboarding for Nosana’s Test Grid Phase 2 is live.

🟠 IoTeX co-founder @Raullen explained the importance of data verification for DePIN projects.

🟠  ChainGPT announced the launch of new features such as new chain integrations, crypto payments, a marketplace, and a leaderboard.

🟠 Aethir unveiled additional details around the ATH token and Aethir’s infrastructure ahead of the token generation event (TGE).

🟠 Tao Block, associated with Bittensor (TAO), announced that it will be launching a phone “designed specifically for the Bittensor Environment.”

🟠 Parallel TCG released a trailer of its latest game, Planetfall.

🟠 dotmoovs launched Enterprise Staking, encouraging businesses to stake MOOV tokens to access “custom AI technology.”

Airdrop Radar 🪂

A quick departure from our regularly scheduled AI token airdrop radar to present you with an opportunity that looks too good to miss:

Sanctum, the “infinite-LST” 

We would be remiss if we covered anything else this week and ignored one of the most high profile airdrop opportunities on Solana. Let’s dive in 👇

To infinity and beyond

Sanctum is a Solana liquid staking protocol that aims to create infinite liquidity for liquid staking tokens (LSTs) through its Infinity pool: a pool of all Solana LSTs.

With a typical LST liquidity pool, there are two tokens; one LST and one other token (e.g. SOL, USDC). This is extremely inefficient from a capital perspective, and has created an issue of fragmented liquidity among Solana LSTs.

This has created a situation where more popular projects gain disproportionately more deposits to their LST due to people’s desire to own LSTs that are liquid enough to trade with minimal price slippage.

Sanctum’s Infinity pool helps provide liquidity for smaller LSTs that might not have enough trading volume on their own. By being part of this universal exchange, even smaller LSTs can benefit from the shared liquidity, making it easier for people to buy and sell them.

This Infinity pool can be compared to a universal currency exchange that supports all types of liquid staked tokens (LSTs) on Solana. Think of it as a one-stop-shop where you can easily swap between different LSTs without the need for multiple separate exchanges.

Imagine you're traveling to various countries and need to exchange your money. Instead of visiting multiple currency exchanges at different times throughout your journey, an “Infinity Exchange” allows you to exchange all your currencies in one place at the best rate possible. This is a very basic way to think about the Infinity pool.

Why does this matter?

The key point here is that Sanctum’s Infinity Pool now allows all projects on Solana to have their own LST, allowing more users in the Solana ecosystem to benefit from staking yield.

If that hasn’t convinced you, Sanctum was incubated by Solana Labs and closed a $6.1 million funding round from notable investors such as Dragonfly Capital, Sequoia, and JumpCapital. This airdrop could be quite promising 👀

How to get involved:

Follow these steps (requires 1 SOL min)👇

1. Sign up to Sanctum’s wonderland campaign here.

2. Swap SOL for INF + choose some different LSTs to swap into.

   • Deposit at least 0.1 SOL into the LSTs you choose so that you get a “pet.” Currently there are 18 LSTs that have a pet available.

     • Your pet gains experience (EXP) by holding the corresponding LST in your wallet at a rate of 10 EXP per minute for every 1 SOL worth of the LST

     • Throughout the season, you can complete quests with your pet to earn EXP multipliers + level up your pets

     • Holding more than 5 INF will qualify you in the top 20% of holders (for now). We suggest aiming for top 5-10% of holders.

Easy peasy lemon squeezy. 🍋 

Here are some additional ways and tips you can use to level up if you are a degen 👇

• Earn EXP depositing INF into INF/SOL pools on platforms like Meteora, Kamino, & MarginFi while earning additional rewards and possible qualification for other airdrops.

• The founder wrote a positive thread about the linear airdrop structure that KMNO used, so it is likely best to stick to farming from one main wallet rather than trying to spread SOL across a bunch of wallets.

  Bonus opportunity: Pathfinder’s NFT

  • Sanctum’s founder is involved on @pathfinders_ NFT project, which is aiming to be an “unruggable” NFT project

  • Essentially the SOL used to mint the NFTs will be attached to the NFT itself as pathSOL (an LST), so that the NFT can always be burned for the. pathSOL, effectively created a price floor that constantly rises in SOL terms

  • Mint date yet to be confirmed but this project could have some involvement in the Sanctum airdrop (potential bonus or related quests), so stay up to date.

Meme of the Day

Exclusive Report: Top 5 AI Cryptocurrencies to Watch 2024

🌵 Access the report here! 🌵