Journalist
Posted:
- The Genesis Drop invited 7,579 developers and 576,653 on-chain addresses to join Celestia.
- Celestia’s AirDrop has over 576,000 eligible addresses, each receiving less than $200 on average.
Celestia, a modular consensus and data network, recently announced that it has launched a new token, TIA. On 29 September, Messari took to X (formerly Twitter) to highlight more details about the launch and the token.
Full details on the Celestia token launch and valuation dynamics in the latest from @Saypien_ https://t.co/RhSGIGqikm
— Messari (@MessariCrypto) September 29, 2023
All about Celestia’s latest AirDrop
Celestia, a data availability protocol, announced that the TIA token, with a 6% genesis AirDrop, will be available to developers, researchers, Ethereum [ETH] rollup users, and Cosmos [ATOM] users.
The Genesis Drop further invited 7,579 developers and 576,653 on-chain addresses to join the protocol.
As per the official website, the claim will be live for 19 days. Celestia also clarified that TIA tokens will never be available via surprise giveaways on X (formerly Twitter) or Telegram.
Additionally, the protocol mentioned that developers and address holders in the United States or other prohibited countries are not eligible for the Genesis Drop.
All you need to know about Celestia
Messari’s aforementioned analysis revealed more details about the new AirDrop and token. Surprisingly, the AirDrop itself was quite uninspiring, with over 576,000 eligible addresses receiving less than $200 on average.
The majority of the token supply was allocated to insiders, which does not actually fit the ideal of full community ownership. A possible reason behind this allocation might be because Celestia is more of a business that needs high upfront pre-product capital funding.
Source: Messari
Messari’s report also analyzed the future prospects of the token, considering the above data. Notably, all Ethereum rollups write 15,000 MB of data and charge an average of $700 per MB for the service.
As per Messari, for Celestia, working with the gas fee calculation and the implied $2.75 billion FDV, the estimated storage cost per MB is around $10–25 per MB.
Using these datasets, a graph was plotted that highlighted various scenarios of Celestia rollup adoption against the price-to-sales ratios of other emerging network protocols.
Source: Messari