On October 31, the mainnet launch of Celestia’s modular blockchain is expected. A number of exchanges, including Binance, have announced support for the TIA token.
The largest crypto exchange set a preliminary listing time for the asset at 16:00 UTC.
KuCoin and Bybit stated that the token will be available for trading at 14:00 UTC.
On Helix, TIA-based futures quotes are around $3, and the daily derivatives trading volume at its peak approached about $140,000.
According to the team’s statement, the project plans to distribute among early users and developers 60 million tokens in a retrodrop.
The total supply of TIA will be 1 billion tokens. The asset enables participation in network consensus, decentralized governance of parameters and a community pool.
“The essence of Celestia’s mission is to enable anyone to launch their own blockchain in minutes, simply by paying for space for large objects with TIA,” the blog says.
In October 2022, the project raised $55 million in financing in a round led by Bain Capital Crypto and Polychain Capital.
Earlier in March, Celestia Labs allocated the modular architecture developed Rollkit to support rollups on the Bitcoin blockchain as a separate line of business.