Celestia Mainnet Set to Launch Tomorrow, KuCoin and Bybit to Begin USDT Trading
Celestia, a groundbreaking project in the blockchain industry, is all set to launch its mainnet tomorrow. Along with the mainnet launch, Celestia’s native token, known as TIA, is poised to become available for trading on several centralized exchanges, sending ripples of excitement throughout the crypto community.
Centralized exchanges, including industry giants like KuCoin and Bybit, have announced their respective plans to initiate trading for Celestia’s TIA tokens. The trading is expected to begin at an estimated time of 10 a.m. EST. Both platforms have stated that they will facilitate trading for TIA against the USDT stablecoin, providing traders and investors with a readily accessible gateway to this exciting new digital asset.
The moment you have all been waiting for 🎉
🥁Stake $TIA to share 25,000 TIA in the Launchpool!
⏰ Deposit / Trading are estimated to start from 2PM UTC, Oct 31
— Bybit (@Bybit_Official) October 30, 2023
A Celestia contributor has confirmed the launch timeline, adding credibility to the much-anticipated event. Furthermore, Celestia’s GitHub repository has been pointing towards this significant milestone, marking October 31 as the due date for the mainnet launch.
One of the most exciting aspects of Celestia’s launch is the commitment to distributing 60 million TIA tokens through an airdrop. This airdrop will be distributed to active users on Ethereum Layer 2s, stakers on Cosmos Hub and Osmosis, as well as developers within the broader crypto space. The snapshot for this airdrop was taken on January 1, 2023, ensuring that those who have actively participated in the blockchain ecosystem have a chance to reap the rewards.
Upon the much-anticipated mainnet launch, Celestia will see a maximum of 1 billion TIA tokens minted on its network. This significant issuance means that the airdrop accounts for an impressive 6% of the total token supply, demonstrating Celestia’s commitment to rewarding and involving its community.
The history of Celestia is not only marked by its upcoming mainnet launch but also by a remarkable fundraising effort. In October 2022, Celestia Labs secured a staggering $55 million in a funding round that propelled its valuation beyond the $1 billion mark. This round was led by prominent investors including Bain Capital and Polychain, signaling a strong vote of confidence in Celestia’s vision and technology.
For those unfamiliar with Celestia, it is a modular data availability network that is set to revolutionize blockchain scalability and flexibility. The project achieves this by separating the consensus and application layers, creating a framework for specialized, self-governing blockchains called “sovereign rollups.” These rollups offer a new level of adaptability and efficiency in blockchain technology, and they are anticipated to play a pivotal role in the evolution of decentralized ecosystems.
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