Note: The original article is from Bankless, compiled by Mars Finance.
Built with the Cosmos SDK, Celestia is a data availability (DA) blockchain that serves as a cost-effective hub for L2 rollups to publish transaction data. The idea is to provide a place for Layer 2 to publish data cheaper than Ethereum mainnet, thereby reducing the cost of gas for Layer 2 users.
Thus, Celestia allows L2 to modularly circumvent the problem of managing DA solutions themselves in pursuit of better prices so that they can focus on the execution layer, which is where the end-user magic comes in – where the transaction takes place.
For example, DeFi options project Lyra has just announced that its Optimism-based Lyra Chain L2 is adopting Celestia for its DA needs.
With all of this in mind, as we stand on the precipice of the L2 Cambrian explosion, Celestia is poised to become one of the first mover DA solutions to support the modular rollup boom.
If you also think that Celestia has a bright future, one popular way to capitalize on the network's rise is to stake its native token, $TIA.
This is because not only can you earn $TIA regular investment rewards (currently 16.25% APR), but you may also be eligible for airdrops against Celestia stakers.
For example, scaling solution Dymension has just announced that it will distribute 20,000,000 DYM tokens to users who stake TIA until December 19, 2023.
Not bad, right? At this point, more similar distributions are inevitable. Luckily, it's very easy to get started because the process of staking $TIA is pretty straightforward. It looks like this :
Create a Celestia wallet - I recommend Keplr, a user-friendly browser wallet that works with Cosmos chains like Celestia and also offers a simplified staking interface.
Get $TIA - The easiest way is to buy $TIA on a cryptocurrency exchange like Coinbase or Kraken. When you're ready to buy, deposit it into the Celestia address you generated in Keplr.
Staking via Keplr - Once you have a TIA, click on the "Manage Portfolio in Keplr Dashboard" button in your wallet. In the "Staking" hub, click on "Celestia" and select a validator to stake from the list provided. Enter the amount of TIA you want to stake, then approve the final transaction with your wallet.
That's all you need to stake $TIA. You can then deposit more funds or unstake them through the Keplr dashboard, just keep in mind that withdrawals are queued for 21 days, so don't stake funds that you may need to use in the short term.
Another thing to note is that you can emulate the $TIA staking process described above and stake on any Cosmos chain supported by Keplr, such as Cosmos Hub, dYdX, Osmosis, etc. Get tokens, deposit them into your wallet, and stake them through the Staking panel. That's it!
Looking ahead, the DA surge in cryptocurrencies continues as Ethereum's rollups grow, and Celestia appears to be a strong contender for the "most noteworthy project" in the new bull run.
Not only is the network inherently fun and practical, but its combination of staking + airdrop opportunities is ideal for passive airdrop hunters who want to maximize the efficiency of their funds, i.e., multiple potential airdrops can be obtained on a single deposit.