Bootstrapping new rollups
A core part of the Celestia vision is that deploying a blockchain should be as easy as deploying a smart contract. In the modular era, developers no longer need to issue a token to launch their own blockchain.
Similarly to ETH on Ethereum-based rollups, developers may opt to bootstrap their chain quickly by using TIA as a gas token and currency, in addition to paying for data availability. In this mode, developers can focus on creating their application or execution layer, instead of having to issue a token right away.
Staking and network governance
As a permissionless network built with Cosmos SDK, Celestia uses proof-of-stake to secure its own consensus. Like in other Cosmos networks, any user can help secure the network by delegating their TIA to a Celestia validator for a portion of the validator’s staking rewards.
Rough consensus will govern Celestia’s decentralised core development roadmap via the Celestia Improvement Proposal (CIP) process, providing offchain governance similar to EIPs
in Ethereum or BIPs
in Bitcoin. More details on the CIP process will be released in the coming weeks.
TIA also allows the community to play a critical role in decentralised governance over key parts of Celestia from day one, such as voting on network parameters and governing the community pool.
Starting at network launch, TIA holders can vote on a set of network parameters, including Celestia’s block size, max square size and other parameters outlined here
Starting at network launch, Celestia’s community pool receives 2% of all Celestia block rewards.
TIA holders may vote to spend TIA from the community pool and fund ecosystem initiatives.Additional details
around governing network parameters and the community pool are provided in the Celestia docs.Genesis Drop
Celestia’s Genesis Drop invites a wide range of eligible developers and onchain addresses to build and contribute to Celestia’s modular ecosystem from inception.
Eligibility for the Genesis Drop falls under four categories, two allocating TIA to 7579 developers and two allocating TIA to 576,653 onchain addresses on Ethereum, rollups, Cosmos Hub, and Osmosis. Developers can be eligible for multiple TIA allocations, (e.g. the sum of Research and public goods, Eth Research, and/or Early modular ecosystem).
The Genesis Drop claiming period will conclude on 17 October 2023, 12:00 UTC.
Any eligible TIA amounts presented at genesis-celestia
or in this blog post are the minimum amount, based on a scenario in which 100% of eligible GitHub accounts or onchain addresses claim. At the conclusion of the Genesis Drop, a portion of unclaimed tokens, up to 45 million TIA, will be allocated to developers and accounts who have submitted addresses.