Sanctum: Alpha Vault now oversubscribed with $11 million in deposits

On July 18, Solana eco-liquidity pledge agreement Sanctum said that Alpha Vault is currently oversubscribed with $11 million in deposits, and that users will still be able to make deposits and withdrawals up until approximately one hour before release.Sanctum (CLOUD) will be released on July 18 at 23:00 GMT.

As previously reported by BlockBeats, the Alpha Vault opens for deposits at 20:00 GMT on July 16th on a non-first-come, first-served basis, and the corresponding CLOUD tokens will vest over a period of 6 months.The starting price of the CLOUDs will be determined by the amount of USDC in the Vault, with a maximum purchase limit of $7.5 million/50 million CLOUDs.The price of the CLOUD will start at 0.001 USDC. The price of CLOUD will start at $0.001 and go up to $0.5 in the LFG Curve. If the amount of USDC deposited exceeds 7.5 million USDC, the CLOUD will be distributed in proportion to the deposit and the excess USDC will be refunded.