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What is Celestia (TIA)? What Does It Do?

Yunus Taşlı — Thu, 28 Sep 2023 17:00:56 +0000

Celestia (TIA) is a modular blockchain network, allowing anyone to easily create their private blockchain, without the hassle of initiating a new consensus network. The blockchains in Celestia operate simultaneously, independently, and securely.

What is Celestia?

Celestia (TIA) Tokens are the first launched in the community and fairly initiated DeFi Tokens. TIA Tokens are a deflationary cryptocurrency due to the decrease in supply over time. They combine three simple functions: Reflection, Rebalance, and Burn.

1. Reflection: 5% of every purchase/transfer/sale fee is redistributed to all existing holders.
2. Rebalance: 2.5% of every transaction fee is automatically transferred to the LCX token on Uniswap. The acquired LCX Token will be added to the long-term reserve of LCX.
3. Burn: 2.5% of the tokens are automatically burned.

Celestia Token Distribution

Fair launch and distribution. Celestia (TIA) Tokens launch in the market in a fair, community-focused manner, without undergoing a token sale or Initial Coin Offering (ICO). TIA Tokens distribute to Tiamond holders at a rate of 1 $TIA per minute for a million minutes, following the “Own to Earn” model, for each Tiamond NFT.

Use Cases of Celestia Token

Tokenization has made transactions easier and simpler. Along with many other tokens in the crypto world, Tia Token emerged as the first in the community and became a fairly launched DeFi Token. There are also other use cases related to the token, which help in strengthening the LCX ecosystem as a whole, thanks to its connection with Tiamonds.
TIA Token allows for a community-prioritized approach and a vibrant, diverse, and unique governance system that will actively direct the Tiamonds project into the future. The Airdrop will distribute it, and investors can stake it on the LCX platform or trade it on the LCX exchange.

Celestia Tokenomics

TIA Token operates on the Ethereum Blockchain, utilizing the ERC20 token standard. The team has established a maximum supply of 1,010,000,000 TIA, but will initiate with 210,000,000 TIA. This initial supply will distribute during the Token Generation Event (TGE), which is Genesis. However, the TIA Token economy has a deflationary structure, so the total supply will decrease over time.
The production and distribution of new TIA Tokens will only occur in relation to the distribution of tokenized Diamonds, the creation of Tiamond NFTs, and the Ownership Rewards model. The community will make decisions regarding the production and launch of TIA Tokens using the Tiamonds governance framework. The community will also determine the distribution rates and the amount of tokens to be allocated for each new Tiamond NFT.

Overview of the Project

Celestia (TIA) stands out as a top-notch project prioritizing project quality over investment price. This project occupies Layer 1 of the industry’s core infrastructure and has made significant strides in securing institutional financing on the public chain. Particularly, after the launch of APT at the end of last year, it has led to high expectations like SUI. It played a significant role when every famous public blockchain in the industry launched its own tokens.

APT started in a bear market and quickly reached a market value of approximately 20 billion dollars; at one point, the token price approached 20 USD, and is currently fluctuating above 10 USD. Celestia (TIA) is top-notch in technology, architecture, team, financing, and other aspects and can compete with projects like Aptos and Sui. As the overall market conditions improve, Celestia‘s future issues could occur in a more favorable market environment.

Redemption of Tiamonds

Tiamond holders can use their Tiamonds and receive their diamonds physically. Using a Tiamond will destroy the token attached to the physical diamond. There are several steps to receive the diamond and keep it in your possession.

Firstly, you must have a fully verified LCX account.
Secondly, you should contact our support at hello@LCX.com.
Thirdly, we will email you the total shipping fee and service fee for the payment, along with the wallet address to which you will send the Tiamond NFT token for payment instructions.
Fourthly, after you pay the fee and we receive the payment for Tiamond, we will retrieve your diamond from our vault and send it to the address you provided via mail, or you can personally pick it up from Liechtenstein.

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