Demex Daily #21: $TIA Celestia to Roll Out TIA Token After $55M Raise

What’s Interesting Today:

Swarm and have partnered to enhance Wrapped's services for transferring cryptocurrencies between different blockchain networks. The partnership focuses on using Swarm's regulated environment to add an extra layer of security and legitimacy to's asset transfers. This collaboration aims to streamline the wrapping of cryptocurrencies for use in decentralized finance (DeFi) and introduces a self-serve API for improved efficiency. The deal aligns with Germany's strict crypto custody laws and could set new standards in the DeFi space.

Celestia, a project focused on data availability in blockchain, aims to go live by the close of the year utilizing the Cosmos SDK. The project will roll out its TIA token, which will be used for governance, consensus, and service payments. A token airdrop involving 6% of its 1 billion supply is planned for specific users, including those who have contributed to Celestia, early adopters of Ethereum rollups, and Cosmos stakers. While some critics question the added complexity of Celestia's modular blockchain design, the project secured $55 million in funding in 2022 from significant investors. The airdrop of TIA tokens will not be accessible to U.S. residents.