Celestia ($TIA) - Claim your airdrop
Celestia is airdropping tokens!!! Let’s dive into what Celestia is, why we are bullish and how you can claim your Celestia ($TIA) token airdrop.
Earlier today, Celestia announced their Genesis airdrop on Twitter. Let’s dive into could be lucrative and how you can claim your Celestia ($TIA) tokens.
What is Celestia?
Celestia is a Layer1 proof-of-stake blockchain - but it doesn’t operate like a typical layer 1 blockchain. Its role is to order transactions (consensus) and verify that the data published is available (data availability). It then leaves the settlement (or execution) side of the transaction to other layer 1s - like Ethereum & Cosmos, with support for more blockchains coming soon…
Celestia’s innovative modular blockchain addresses a number of challenges for Web3 applications by enhancing scalability, flexibility, and interoperability - which augments existing, established blockchains, like Ethereum.
Celestia’s modular approach promotes collaboration among chains, in contrast to the competitive nature of monolithic blockchains, and thus enables an ecosystem of interconnected blockchains. We expect it to be a big player in the scaling of the Web3 ecosystem as a whole. Notably, Celestia is partnering with Eclipse network to bring Solana’s Virtual Machine to an Ethereum Layer 2.
Developers can also benefit from Celestia’s tech which enables them to deploy a new blockchain as easily as they can a smart contract. Furthermore, multiple languages are supported (not just Solidity). Lastly, applications can be updated without main chain forks which is a big issue for many dApps today - especially with security and functionality updates. Celestia’s tech stack is a big win for users, developers and Web3 as a whole.
Why we are bullish on Celestia
Celestia is a promising Web3 infrastructure project and we are excited because:
Its data availability functionality will significantly help to sale Ethereum Layer 2s during the upcoming “Layer2 Summer”.
It is well funded with $56.5M raised from the likes of Maven 11 Capital, Binance Labs, Cosmos and Jump Crypto as well as industry leaders like Balaji Srinivasan.
The Celestia team is accomplished with experience as Web3 founders, researchers and engineers.
Celestia has an impressive partner ecosystem which includes Axelar, Berachain, Cosmos, Eclipse (Solana Virtual Machine Layer2), Optimism’s OP Stack and Risc Zero.
How do I claim my $TIA airdrop?
You can check whether you are eligible for the airdrop at the Official Celestia Genesis Drop page - you can verify the link on the Official Celestia X (Twitter) and Website.
Here are the steps:
Navigate to the Official Genesis Airdrop Page;
Click on the “Check TIA eligibility” button.
Connect your Github, Cosmos Wallet, Osmosis Wallet or Ethereum wallet or check your address manually - the site will scan your wallet and advise if you have tokens to claim!
If you are eligible, connect your Ethereum wallet (e.g. Metamask) by hitting the “Connect Wallet” button and sign the transaction. If you have connected your Cosmos wallet already, jump to #6.
You will be taken to a screen where you have to provide a Cosmos ecosystem wallet address - follow the steps below to set up a Cosmos wallet if you don’t already have one:
Download the Keplr wallet - Keplr is the most commonly used Cosmos ecosystem wallet and install the wallet as a browser extension.
Follow the steps in Keplr to create a new wallet - don’t forget to save down your seed phrase in a safe place (ideally a book or other manual repository).
Reload the claim page.
Now that you have your Cosmos wallet, click the “Obtain address from Cosmos wallet” button and your wallet address will automatically populate
Wait - the airdrop will be credited to your Celestia network wallet when the network is live.
Join our community to stay up to date with the latest news and what we plan to do once the airdrop is in our wallets.
How do I qualify for rewards?
To qualify for $TIA token rewards, you need to fit into one of the following groups of eligible users - check the full announcement out here. If you have used a Layer2 network, like Arbitrum, Optimism, zkSync, Starknet or Metis, or stake ATOM or OSMO tokens, you should check your eligibility.
If you have ever been a contributor to Ethereum, ETH Layer2s, Bitcoin or Cosmos Githubs or Ethereum/Bitcoin Improvement Proposals then this airdrop is going to be a big one for you! Connect your Github to see if you qualify.
Celestia - $TIA tokenomics
An Airdrop is exciting - but what does the token do? Check out our tokenomics review below.
Celestia’s native token - $TIA - has a total genesis supply of 1 Billion tokens with a forecasted inflation of 8% in Year 1. Celestia plans to utilise a fee burning mechanism for $TIA which will assist to reduce the inflation of token supply over time.
Note: 35.6% of the total $TIA supply is owned by early investors including VCs. These tokens have a 1 year cliff with a 33% upfront unlock and the remaining 67% unlocking continuously over the next year. Always be aware of token unlocks, and their impact on inflation and token price, when trading. Check out the $TIA tokenomics for more information on token emissions.
$TIA’s primary use cases are as follows:
PayforBlobs: $TIA is used to pay for “blob space” which allows developers to use Celestia for data availability;
Bootstrapping new rollups: developers can deploy a new blockchain and bootstrap it using $TIA as the gas token and currency. This allows developers to focus on their application layer instead of issuing a token right away;
Proof of stake: Celestia is a permissionless network built with the Cosmos SDK and uses proof-of-stake to secure its consensus.
Decentralised governance: $TIA stakers can participate in the governance of Celestia including funding ecosystem initiatives out of the Community Pool (2% of all tokens).
Celestia’s token allocations are displayed below.
Thanks for tuning in!
Celestia is an exciting new layer 1, modular, blockchain that is pioneering to improve the scalability and interoperability of the entire Web3 ecosystem. We hope you received tokens in this airdrop but if you weren’t lucky, stay tuned.
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