What currency is Celestia(TIA)?

CELT, the native token of the Celestia blockchain, serves as a crucial asset for staking, governance, and incentivizing data availability, while also gaining traction as a store of value.

Dec 10, 2024 at 07:51 am

What Currency is Celestia (CELT)?

Introduction

Celestia is a Layer-1 blockchain protocol that provides decentralized data availability for rollups and other Layer-2 solutions. The native token of the Celestia ecosystem is CELT, which plays a crucial role in securing the network and facilitating governance.

Tokenomics of CELT

• Max Supply: 1 billion CELT
• Initial Distribution: 50% for protocol treasury, 20% for core contributors, 10% for seed investors, 10% for strategic partners, and 10% for the public sale.
• Token Use Cases: Staking for consensus, transaction fees, protocol governance, and incentivizing validators to ensure data availability.

Steps to Acquire CELT

1. Purchase on Cryptocurrency Exchanges: CELT is listed on various cryptocurrency exchanges, including Binance, Coinbase, and KuCoin. Follow the exchange's registration and verification procedures to purchase CELT using fiat currencies or other cryptocurrencies.
2. Stake for Rewards: Staking CELT on the Celestia protocol allows you to participate in consensus, earn staking rewards, and support the security of the network. You can delegate your CELT to validators or run your own node to become a validator.
3. Participate in Network Events: Celestia occasionally conducts airdrops or token distributions for early supporters and community members. You can follow the project's official announcements and participate in network activities to earn CELT.

Governance and Staking

CELT holders play a significant role in the governance of the Celestia ecosystem through:

• Voting: CELT holders can vote on protocol upgrades, parameter changes, and other governance proposals that shape the future of Celestia.
• Staking: Staking CELT strengthens the network's security and allows participants to earn rewards for their contributions. Validators with large CELT stakes have more voting power and influence in consensus.
• Proposal Submission: CELT holders with a minimum amount of staked tokens can submit governance proposals for consideration by the community.

CELT as a Store of Value

In addition to its utility as a governance and staking asset, CELT has also gained traction as a store of value due to:

• Scarcity: The max supply of CELT is fixed at 1 billion, creating artificial scarcity over time as demand increases.
• Network Adoption: The growing adoption of Celestia by rollups and other Layer-2 solutions increases the demand for CELT as a base layer asset.
• Speculative Value: Investors may speculate on the future value of CELT based on the potential growth of the Celestia ecosystem and its role in the blockchain industry.