Celestia ($TIA) is one of the trending tickers in this early stage of the halving cycle.
Initially airdropped in large quantities to ATOM stakers, among other wallets, many see staking TIA as a great way to get exposure to the cosmos ecosystem while also increasing eligibility odds for future airdrops.
Over and out ⬇
News:
- Ripple Chooses Dublin for European HQ: Amid legal battles in the US, Ripple selects Ireland as its European base, anticipating the MiCA law implementation.
- South Korea to Discuss Crypto Regulations with SEC: South Korea's chief financial regulator is set to meet with the SEC to enhance crypto regulatory cooperation.
- Trezor Adds Support for Solana and SPL Tokens: Amid a price rally, Trezor updates its hardware wallets to support Solana and its token standard, expanding its crypto asset compatibility.
- Solana Surpasses XRP as Fifth-Largest Cryptocurrency: Driven by DeFi growth and meme coin mania, Solana's market cap reaches a 20-month high, signaling its rising prominence.
- Judge Denies Bankman-Fried's Sentencing Delay Request: The former FTX CEO's plea for an extended sentencing process is rejected, setting the stage for a consequential legal showdown.
- Phantom Wallet Expands to Bitcoin and Ordinals: The Solana-centric wallet broadens its horizons by integrating support for Bitcoin, Ordinals, and BRC-20 tokens, enhancing its cross-chain functionality.
- Three Arrows Capital Founders' Assets Frozen: A court freezes over $1 billion in assets belonging to the founders and associates of the defunct hedge fund.
- U.S. Court Finalizes Silk Road Bitcoin Forfeiture: A mandate is issued for the forfeiture of 69,370 bitcoins connected to the Silk Road dark web market.
Project Updates:
- EigenLayer Hits $1B TVL: Less than 48 hours after increasing caps, EigenLayer's Total Value Locked surpasses $1 billion.
- Enigma Announces First $TIA Airdrop: Snapshot completed, signaling the upcoming airdrop for $TIA stakers with more to follow.
- Y2K Finance Adds $PYUSD Market: Introducing $PYUSD from PayPal to Earthquake Vaults, powered by PythNetwork price feeds.
- KyberSwap Offers Treasury Grants Post-Exploit: A program to aid users affected by the KyberSwap Elastic Exploit is announced.
- Celestia Partners with Arbitrum for Orbit Chain: Developers can now deploy Orbit chains on Arbitrum Sepolia with Celestia's modular data availability.
- Trader Turns $450 into $2M with Avalanche Meme Coin: A trader's small investment in Avalanche's hen-themed meme coin, Coq Inu, skyrockets to millions, highlighting the volatile potential of meme tokens.
- StarkWare and Avail Enhance Data Availability for Starknet: The collaboration aims to boost data availability for appchains, promising a more robust and efficient Layer 2 network.
Background on Celestia
Celestia describes itself as the 1st ‘modular blockchain network that securely scales with the number of users’.
It allows anyone to launch their own blockchains and rollups without having to pay high data fees.
The vision of Celestia is based on the idea that layer-1 blockchains should not be responsible for computation and execution.
The thesis is that consensus and Data Availability can be separated, allowing for more efficient execution of chains in rollups.
Celestia’s role is to provide a modular Data Availability network that enables easy launch of blockchains and rollups without high data fees.
It aligns with the vision that not every application needs to share the same chain or be executed by everyone on the same chain.
Celestia is referred to as a “lazy ledger” because it acts as a blockchain that only focuses on consensus and Data Availability.
He adds that the concept of lazy ledger emerged from discussions around Ethereum 2.0 sharding roadmap and the need for scaling Data Availability.
Celestia can be used as a building block for Ethereum layer-2s.
Posting data on Celestia enables efficient Data Availability without the high costs associated with posting directly on Ethereum or relying on centralized committees.
Celestia fills the gap between expensive on-chain Data Availability and centralized alternatives, making it a practical choice for developers.
According to Mustafa Al-Bassam, Co-Founder of Celestia, transaction fees for data ordering in Celestia are significantly lower compared to Ethereum’s EIP 4844.
On-chain Ethereum data may be too secure or costly for certain gaming chains or specific use cases, increasing demand for L2s, alt L1s, appchains, etc.
Modular Blockchains
Modular blockchains enable the creation of application-specific rollups, enhancing product capabilities.
The idea is similar to Cosmos Vision, where multiple blockchains share security.
Along with parallel EVM chains, ‘modular’ is becoming a buzzword of it’s own.
$TIA Tokenomics
The protocol’s inflation rate 8% in the first year, decreasing 10% per year until reaching an inflation floor of 1.5% annually.
Of the 1B total $TIA supply, 6% (60M tokens) were airdropped to select users.
This included ATOM & OSMO stakers, as well as certain ETH rollup users.
Some see this airdrop as a gift which keeps on giving, as it may yield additional airdrops for projects that choose to build on top of $TIA, on top of the tokens price appreciation.
$TIA Performance Since it’s Airdrop in October
$TIA’s currently supply is 152M (~15%).
The next unlock is slated for October 31, 1 year after the original TGE.
This unlock will see 17.5% of the supply come online.
Dymension ($DYM) Potential Airdrop
Dymension is a modular blockchain in Celestia ecosystem which aims to power the internet of rollups.
Specifically, it specializes in giving developers the option to develop lightning-fast appchains, dubbed ‘RollApps’.
Dymension has already deployed an incentivized testnet.
$DYM Incentives for the Froopyland Testnet, deploying 10M out of 1B total tokens
Speculation around $DYM airdrop for $TIA stakers
Important Links
Become a Premium member to unlock all our research & reports including access to our members-only discord server
Join thousands of sharp crypto investors & traders by becoming a Premium Member & gain an edge in the markets. For just $33.25/month you’ll get:
Premium access to the entire Revelo Intel platform
*NEW* Raise Alpha- Weekly reports on interesting project raises
*NEW* Sector Overviews - 90 day Reports with data and insights on key sectors
Launch Alpha - Weekly report highlighting new projects
The Trace - Real-time onchain alerts for smart money movements
Airdrop Guides - Reports on airdrop opportunities
Members Only Discord server
Analyst Insights reports - actionable trade ideas
Project Snapshots - Monthly protocol-specific performance reports
Project Breakdowns & Timelines - Deep dive 50+ page protocol-specific reports
Notes - Summaries of your favorite podcasts & AMAs