Summary
Ketju does not approve Sanctum Infinity (INF): one plain keypair holds the upgrade authority for the Infinity controller, and the live fee model no longer matches the audited code. Direct on-chain queries show that the upgrade authority is a single keypair and not a multisig. The audited fee model split swap fees 90/10 between reserves and fee vaults. The live V2 model charges a 5% performance fee under the same program ID. This appears to be an unaudited change that the single key deployed. INF is the LP token of Sanctum Infinity, a managed pool of SOL and many Solana LSTs. It earns the basket's staking return plus swap fees. The protocol has run since 2024, publishes its code and three audits, and handled the LST stress of 2025-10-10 with no reported loss. We do not approve it because an adviser cannot review and monitor every constituent, nor the people who can add, disable, reprice, rebalance, pause or upgrade it.
Review triggers
- Ketju will not approve it until the live Infinity V2 program, every calculator and every privileged authority are identified and mapped to published reviews
- Any constituent LST added without a published audit, authority review and admission rationale
- Any one external LST issuer exceeding 20% of Infinity NAV
- A constituent impairment or calculator error that drops INF redemption value more than 1% below its reported intrinsic SOL value
- Pool operations paused for more than one Solana epoch
- A proposed-size sale of INF for SOL costing more than 50 basis points through both direct redemption and the best secondary route
- A live Infinity V2 program or calculator not mapped to a published audit
Facts
- Verdict
- Not approved
- Type
- Staking
- Chains examined
- Solana
- Instruments
- INF
- Reviewed
- Last confirmed