Hex Trust announces support for Celestia network, offers staking and custody services at mainnet launch. Celestia’s TGE for $TIA: What you need to know

Hex Trust announces support for Celestia network, offers staking and custody services at mainnet launch. Celestia’s TGE for $TIA: What you need to know

November 1, 2023

Celestia’s TGE on October 31st 

Celestia, a modular blockchain network, has achieved a significant milestone in its development by successfully concluding its Token Generation Event (TGE) on October 31st. Operating on a Proof-of-Stake (PoS) consensus mechanism and integrating a Data Availability (DA) layer, Celestia empowers networks to leverage its platform for data posting, eliminating the need for individual chains to store and verify their own data. With its modular architecture, Celestia fosters seamless interoperability and communication among blockchain networks, ushering in a new era of interconnected utilities. By enabling the posting of data to a separate chain, Celestia effectively addresses scalability limitations, liberating individual chains from the burden of storing their own state. At the heart of Celestia's ecosystem lies its native asset, TIA, which plays a significant role in facilitating transactions, governing the network, and promoting decentralization. Under the guidance of experienced blockchain developers, Celestia's team remains dedicated to enhancing security, scalability, and decentralization within the blockchain space. For a more comprehensive exploration of Celestia's features and capabilities, you can refer to this article.

TIA now Live: The Celestia Token & its Tokenomics

TIA, the native token of Celestia, has officially launched, becoming an integral part of the ecosystem. With a total supply of 1,000,000,000 tokens, TIA serves multiple purposes, including acting as a payment method, gas token, and governance tool. Token allocation was thoughtfully diversified, covering public allocation, R&D and ecosystem support, early backers, and initial core contributors. This approach ensures a fair and inclusive distribution of tokens, fostering a community-driven development. TIA holders can actively participate in network security through proof-of-stake, earning staking rewards and contributing to network stability. The Genesis Drop offers an opportunity for developers and users from different ecosystems to join Celestia and contribute to its growth. Overall, TIA's tokenomics and utility play a significant role in enhancing the Celestia ecosystem and promoting innovation and growth. 

Hex Trust's Custodial and Staking Services 

Hex Trust's custodial services are well-positioned to support Celestia's Mainnet Launch. As the sole licensed custodian in the APAC and FMP license holder for virtual asset custody services in the Middle East, Hex Trust delivers secure custody services for Celestia's token (TIA) through its institutional-grade platform, Hex Safe. This ensures the protection of digital assets for institutional clients and the broader Web3 ecosystem, playing a crucial role in the secure management of $TIA.

Additionally, Hex Trust actively supports Celestia's network growth by offering staking services through Hex Trust Markets (HTM). Through HTM, institutional investors can access digital asset markets and benefit from various solutions such as trading, OTC trading, liquidity management, and treasury management. Hex Trust Markets enables clients to actively participate in securing the network by running a validator node and staking their tokens, contributing to the network's security and earning staking rewards. 

Hex Trust's comprehensive approach to custody and staking services ensures that institutional clients have secure custody solutions and the opportunity to actively engage in staking, promoting network participation within the Celestia ecosystem. Interested parties can contact the Hex Trust team at enquiries(at)hextrust.com to explore custody and staking opportunities for Celestia tokens ($TIA) and discuss how they can support their staking needs and maximize the benefits of participating in the Celestia network.

Disclaimer

This material is not directed to or construed as solicitation or advertising to any person in any jurisdiction where (by reason of that person's nationality, residence or otherwise) the publication or availability of this material is prohibited by any law. This material is not intended for any use that would be contrary to local law or regulation. Products or services mentioned in this material are subject to legal and regulatory requirements in applicable jurisdictions and may not be available in all jurisdictions. Without limiting the generality of the foregoing, HTM and its associated entities are not licensed with the Hong Kong Securities and Futures Commission or any other regulatory authority in Hong Kong. Accordingly, persons are required to inform themselves of and observe such laws which are in force in their jurisdictions. 

Nothing in this material is intended as a recommendation or an offer or solicitation for the purchase of any digital asset, security or financial instrument, to enter into a transaction involving any digital asset, security, financial instrument or trading strategy, or as an official confirmation or valuation of any transaction mentioned in these materials. We make no commitment to transact at any particular price or at all, now, or in the future. These materials are informational only and do not bind us or any other entity or person in any way. You should not construe the content of any material provided as accounting, financial, legal, tax or other advice, and you should consult your own attorney, financial advisor, tax advisor, accountant or other advisor as to legal, financial, tax, accounting and other matters.

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