Sanctum: Alpha Vault is currently oversubscribed with $11 million in deposits

BlockBeats reported that on July 18, Solana's ecosystem liquidity pledge protocol Sanctum said that Alpha Vault is currently oversubscribed with deposits of $11 million, and users can still deposit and withdraw until about 1 hour before the release. Sanctum (CLOUD) will be issued at 23:00 on July 18.

BlockBeats previously reported that Alpha Vault opened deposits at 20:00 Beijing time on July 16, not on a first-come, first-served basis, and the corresponding CLOUD tokens will be vested within 6 months. The starting price of CLOUD will be determined by the amount of USDC in the Vault, with a maximum purchase limit of $7.5 million/50 million CLOUD. The price of CLOUD will start at $0.001 and rise to $0.5 on LFG Curve. If the deposited USDC exceeds 7.5 million USD, CLOUD will distribute it according to the deposit ratio, and the excess USDC will be refunded.