Celestia is conducting a Genesis Drop, distributing 60 million tokens named “tia” to 7,579 developers and 576,653 on-chain addresses across Ethereum rollups, Cosmos Hub, and Osmosis. The organization has developed a modular blockchain architecture aimed at competing with established players like Ethereum. They separate the consensus mechanism from execution, allowing developers to deploy decentralized blockchains without creating a consensus network from scratch. Participants in the Genesis Drop can use tia tokens to purchase blob space and secure the network.
Initiating Genesis Drophttps://t.co/jd6OwoNktc pic.twitter.com/YgeXDn1Gxw
— Celestia (@CelestiaOrg) September 26, 2023
This initiative represents six per cent of the total token supply and concludes on October 17. Celestia’s mission is to enable anyone to launch their blockchain by paying for blob space with tia tokens, utilizing Data Availability Sampling (DAS) to scale with user numbers. Celestia Labs, the company behind this permissionless protocol, achieved unicorn status by raising $55 million nearly a year ago.