Airdrops

Celestia’s MilkyWay Airdrop Sparks Excitement with mPoints, Anticipation Grows for “MassDrop” Event

Photo for the Article - Celestia's MilkyWay Airdrop: mPoints Followed by "MassDrop"

Cryptochronicle.xyz:

MilkyWay has promised an extraordinary massdrop following a successful $5 million seed round, with investments from Polychain, Binance Labs, HackVC, Longhash Ventures, and Crypto.com Capital.

MilkyWay, a liquid staking solution built on the Celestia network, will first be deployed on Osmosis. Users can stake $TIA in MilkyWay and receive $milkTIA in return, along with staking rewards. The protocol allows Celestia token holders to access liquidity for their staked assets, enabling trading and use as collateral in DeFi products. The long-term plan is to move to Celestia’s rollkit for native milkTIA issuance.

Stakers can stake $TIA without locking it up for a specific period, and $milkTIA can be utilized in various DeFi applications like lending and borrowing. Liquid staked TIA automatically compounds staking rewards, and users can withdraw their TIA to receive their native tokens and accrued staking rewards.

MilkyWay charges a 10% fee on staking rewards generated by $milkTIA holders to fund development, incentivize users and validators, provide insurance, and support the Celestia ecosystem. $MILK, the native token of the protocol, serves as a governance token allowing holders to vote on protocol changes. $MILK holders will receive a portion of the 10% fee charged on staking rewards.

MilkyWay’s airdrop campaign, called a “massdrop,” reserves at least 10% of the total supply of $MILK for mPoint holders. The campaign will use a points system called “mPoints,” which can be acquired by holding $milkTIA, participating in liquidity pools, or engaging in lending and borrowing.

The MilkyWay team anticipates the launch of $MILK in the first half of 2024, with the massdrop potentially occurring this quarter. Nevertheless, investing in cryptocurrencies requires thorough due diligence and professional advice. Cryptochronicle.xyz provides information for informational purposes only and does not constitute investment advice. Any financial decisions made are solely the responsibility of the individual.

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