Celestia’s mainnet is anticipated to launch tomorrow together with its native token, which is able to develop into accessible for buying and selling on centralized exchanges.
Centralized exchanges, together with KuCoin and Bybit, introduced their respective plans to provoke buying and selling for Celestia (TIA) tokens at an estimated time of 10 a.m. EST. Each platforms acknowledged that they are going to provoke buying and selling for TIA in opposition to the USDT stablecoin.
A Celestia contributor confirmed the launch timeline to The Block. Celestia’s GitHub repository additionally signifies a due date for the mainnet launch of Oct. 31.
The venture has put aside 60 million tokens for an airdrop to lively customers on Ethereum Layer 2s, stakers on Cosmos Hub and Osmosis, and builders within the broader crypto house. The snapshot for the airdrop was taken on Jan. 1, 2023.
Upon the anticipated mainnet launch tomorrow, a most of 1 billion tokens will probably be minted on the community. This implies the airdrop accounts for six% of the entire provide.
Not like monolithic Layer 1 blockchains reminiscent of Ethereum and Solana, Celestia goals to be a modular community. This design intends to make it simpler for builders to create new blockchains utilizing its platform.
The Celestia structure is designed in order that nodes will attain consensus on transactions in parallel throughout chains, executed in an off-chain method. These blockchains will probably be verified by way of a system of fraud and information availability proofs.
In October 2022, Celestia Labs introduced it had raised $55 million at a valuation exceeding $1 billion, in a funding spherical led by Bain Capital and Polychain.