This has to be an exceptional year for TIA holders! (Smiles)
Airdropped to early adopters, TIA has experienced remarkable growth in a short space of time, leaving holders with hefty gains.
In just a few months, of launch, the price climbed from around $2, reaching the $20 mark as of today (January 15, 2024).
And did you know? Just by staking TIA, you could have snagged multiple airdrops! Stay tuned… I’ll spill the beans later in this post.
TIA is the native token of the Celestia blockchain. Let’s learn about the network and how to unlock exclusive airdrops by staking TIA. Shall we?
Post Summary
- What is Celestia Blockchain | How It Works
- Project’s Team
- Celestia Token, TIA
- How To Stake TIA For Massive Airdrop
- TIA – What’s The Potential?
- Conclusion
What is Celestia Blockchain | How It Works
Celestia is the first layer 1 Modular blockchain network.
Unlike older blockchains, Celestia offers developers the unprecedented flexibility to build customisable blockchains without being confined by existing frameworks.
This sets it apart as a truly unique blockchain.
It was introduced in 2019 as Lazy Ledger before rebranding in 2021.
4 years later into building, the blockchain reached its pinnacle with a mainnet launch in October 2013.
Since then, it has been the talk of crypto!
How Does Celestia Work?
As previously stated, Celestia is a Modular blockchain.
To understand how it works better, you must understand the difference between Monolithic and Modular blockchains.
Ideally, a Blockchain framework comprises 4 layers:
- Execution – responsible for processing transactions within the network
- Settlement – handles transaction finality and the validity of blocks
- Consensus – responsible for ensuring that all nodes agree to the validity of transactions
- Data Availability – ensures that transaction data are accessible to all network participants.
Monolithic Blockchain
Older blockchains like Bitcoin, Ethereum, BSC, Solana and the rest are referred to as Monolithic blockchains.
They are called so because they take on the functions of all the above-mentioned layers in a single blockchain.
For example, the Ethereum network is responsible for its execution, settlement, consensus and data availability.
The problem with this is that it slows down the network since a single blockchain takes up all those responsibilities at a time.
To solve this problem.. this is where Celestia’s modular approach comes in.
Modular Blockchain
Celestia introduces the Modular blockchain.
These types of blockchains are designed to focus on specific functions of the blockchain layers.
Here is what I mean.
Instead of taking on everything, Celestia specializes in Consensus and Data Availability.
In addition, it allows developers to mix and match other layers, like Execution and Settlement, from any blockchain environment.
For example, DeFi protocols built on Ethereum for execution and settlement can leverage the Celestia network for its consensus and data availability provisions.
This helps to solve the scalability bottlenecks since the blockchain now handles a lesser function.
It also creates room for flexibility which allows developers to design customizable blockchains.
Let’s talk about the team. Shall we?
Projects Team
Meet the team…
i. Mustafa Al-Bassam – Celestia CEO, holds a PhD in blockchain scaling and is the co-founder of Chainspace now acquired by Facebook.
He co-founded Chainspace, later acquired by Facebook. Notably, at 16, he co-founded LulzSec, a renowned hacker group targeting high-profile companies, including SONY and Nintendo.
ii. Ismail Khoffi – Celestia CTO, former senior engineer at Tendermint and Interchain Foundation
iii. John Adler – Celestia CRO. He is the Optimistic Rollup creator and the Fuel project founder.
The rest of the team comprises Nick White, co-founder of Harmony Blockchain, and other skilled software engineers.
Spot on! We move to TIA!
Celestia Token, TIA
TIA, the native token of Celestia has a total supply of 1 billion tokens.
It aims to be deflationary, starting with an 8% inflation rate in the first year, dropping 10% each year until it reaches 1.5% annually.
See the attached image for a detailed presentation of the TIA allocation.
Token Use Cases:
- Governance Voting
- Staking
- Data Storage Fees
- New Rollups Launch
TIA made its debut alongside the main net launch.
It accompanied this event with an airdrop of 6% of its total supply (60 million tokens) to early adopters, fuelling a lot of buzz by its community.
Albeit more than 410,000 eligible addresses did not claim their TIA tokens worth almost $1 million.
TIA’s ATH has reached a $20 price mark and sits at a $303 million market cap (January 2024).
Impressively, TIA has not ceased to take away the buzz around it by its community on X.
The obvious reason behind this is the multiple airdrops TIA stakers have qualified for.
At the time of writing, more than 10 different projects have announced airdrop for TIA stakers…you will get to know these projects soon.
Now, to the million-dollar question: How do you stake TIA?
First and foremost, you need to have acquired some TIA. You could easily do this using these exchanges:
Continue to the next section!
How To Stake TIA For Massive Airdrop
FUEL, MILK, COFE, HYPR, UNICORN, DYM, and four more airdrops are confirmed for TIA stakers.
Does this pique your interest? Here is the step on how to stake TIA.
Step 1 – Setup Keplr Wallet
Download and create a Keplr wallet. For easy access, here is the official link.
Step 2 – Fund Your Wallet And Head over to Keplr Dashboard
- Copy your Keplr wallet address and fund it with the TIA tokens you want to stake.
- Click on “Manage Portfolio in Keplr Dashboard”
Step 3 – Stake your TIA
- On the dashboard, click the “Stake” button
- Search for “Celestia” and enter the amount of TIA you want to stake
- Choose a Validator by browsing through the list and selecting one.
- Finally, click the “Stake” button to stake your TIA and confirm the transaction from your wallet prompt.
Congrats! You have successfully staked TIA.
TIA – What’s The Potential?
TIA has made a strong impression in the crypto space, experiencing an 888%+ gain in just 3 months of launch.
This remarkable gain wasn’t due to hype but rather the result of the efforts of an expert team and a problem-solving blockchain.
Speaking of which Celestia is the first modular blockchain and could drive the wave for modern blockchains.
One can liken this to how Ethereum led the way for other smart contract blockchains.
With $56 million in funding, the team has ample resources to invest in marketing to drive the project to the top.
Another positive indicator for the future of the TIA token is its growing ecosystem of 90+ Dapps and relatively low market cap.
I mean, considering the current market cap of $300 million, the project is undervalued when compared to other Layer 1 blockchains with market caps in the billions, such as Solana, Cardano, and Avalanche.
Also, the abundance of airdrop opportunities for TIA stakers makes it a compelling reason to invest in TIA.
Here is what a fan has to say about TIA on X:
Remember, this is not financial advice, do your research before investing!
Conclusion
You have reached the end of the post.
Feel free to air your thoughts or questions in the comment box.
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