Celestia launches new TIA token; particulars inside 

Posted: September 30, 2023

• The Genesis Drop invited 7,579 builders and 576,653 on-chain addresses to hitch Celestia.
• Celestia’s AirDrop has over 576,000 eligible addresses, every receiving lower than $200 on common.

Celestia, a modular consensus and information community, not too long ago introduced that it has launched a brand new token, TIA. On 29 September, Messari took to X (previously Twitter) to focus on extra particulars concerning the launch and the token.

Full particulars on the Celestia token launch and valuation dynamics within the newest from @Saypien_ https://t.co/RhSGIGqikm

— Messari (@MessariCrypto) September 29, 2023

All about Celestia’s newest AirDrop

Celestia, an information availability protocol, introduced that the TIA token, with a 6% genesis AirDrop, might be accessible to builders, researchers, Ethereum [ETH] rollup customers, and Cosmos [ATOM] customers.

The Genesis Drop additional invited 7,579 builders and 576,653 on-chain addresses to hitch the protocol.

As per the official website, the declare might be reside for 19 days. Celestia additionally clarified that TIA tokens won’t ever be accessible by way of shock giveaways on X (previously Twitter) or Telegram.

Moreover, the protocol talked about that builders and tackle holders in america or different prohibited nations usually are not eligible for the Genesis Drop.

All you must find out about Celestia 

Messari’s aforementioned evaluation revealed extra particulars concerning the new AirDrop and token. Surprisingly, the AirDrop itself was fairly uninspiring, with over 576,000 eligible addresses receiving lower than $200 on common.

Nearly all of the token provide was allotted to insiders, which doesn’t really match the best of full group possession. A attainable motive behind this allocation could be as a result of Celestia is extra of a enterprise that wants excessive upfront pre-product capital funding.

Supply: Messari

Messari’s report additionally analyzed the long run prospects of the token, contemplating the above information. Notably, all Ethereum rollups write 15,000 MB of knowledge and cost a median of $700 per MB for the service.

As per Messari, for Celestia, working with the gasoline charge calculation and the implied $2.75 billion FDV, the estimated storage value per MB is round $10–25 per MB.

Utilizing these datasets, a graph was plotted that highlighted numerous eventualities of Celestia rollup adoption in opposition to the price-to-sales ratios of different rising community protocols.

Supply: Messari