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Despite the sluggish market, can "Golden Shovel" TIA continue to rise?

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The recent frenzy of investment surrounding TIA is more likely due to its golden shovel attribute. Many users who are buying TIA believe that they are not just purchasing one token, but also gaining additional benefits that may be airdropped to the TIA st

Original Title: "With the Blessing of the "Golden Shovel" Attribute, How High Can TIA Go?"

Original Source: Odaily Star Daily

Celestia (TIA) continues to experience a hot market trend.

OKX market display, as of the time of writing, TIA is currently trading at 19.23 USDT, maintaining strong performance despite the overall market downturn.

Modular narrative may be the basic value that supports Celestia, but the recent frenzy of investment around TIA is more likely due to its "golden shovel" attribute - in other words, many users who are buying TIA do not just buy one token, but also expect to receive additional benefits that may be airdropped to the TIA staking community in the future.

TIA Pledge Craze

Recently, several Cosmos ecosystem projects, including Dymension and Saga, have announced their plans for a public vote, and coincidentally included TIA's staking users in their proposed airdrop scope. In addition to the confirmed airdrop distribution mentioned above, there are also rumors (some of which have been officially announced) that several non-Cosmos ecosystem projects, such as Manta, Movement, and U Protocol, which have adopted Celestia's data availability (DA) solution, are also interested in airdropping to TIA stakers.

Regarding the value of these potential airdrops, we can take a look at Dymension, which has already launched a pre-launch contract trading on Aevo.

The airdrop rule of Dymension is to stake 1 TIA to receive 205 DYM airdrop rewards. Currently, DYM is priced at around $4 on Aevo, which means staking just over ten dollars on the Dymension project alone can earn you hundreds of dollars in additional airdrop profits. The reason why "at least" is emphasized is that Dymension has announced that the unclaimed airdrop shares will be allocated to the approved addresses, with a focus on large TIA and ATOM stakers. Therefore, it can be expected that the actual benefits that TIA stakers can receive after the Dymension airdrop ends will be further increased.

Odaily Daily Note: The pre-launch contract on Aevo has large fluctuations and low trading volume, which has some reference value but cannot fully represent the real market price after TGE.

With such a significant expected trend in returns, many users have begun to choose to purchase and pledge TIA.

Smart Stake data shows that the current overall staking rate of TIA has reached 48%. Considering that TIA has only been launched for just over two months, this is a remarkable figure, even surpassing many well-established PoS networks such as Polygon with a staking rate of 35% and Harmony with a staking rate of 34%. At the same time, the number of independent addresses staking TIA is also rapidly increasing, with over 300,000 addresses staking TIA as of January 14th. These two data points clearly demonstrate the enthusiasm of current TIA holders for staking.

For the purpose of obtaining more potential airdrops, some TIA holders have even started to try pledging with multiple addresses. However, this approach clearly has its pros and cons. The advantage is the opportunity to receive more "low-income guarantees", but at the same time, as the scale of TIA pledges expands, there is also a risk of being screened out due to the pledge threshold.

As for whether it is still possible to continue purchasing TIA at present, we cannot predict the trend of the secondary market. However, based on the general staking rates of mainstream tokens in the Cosmos ecosystem (SEI 68%, ATOM 64.9%, OSMO 55.3%), it seems that there is still some room for growth in the staking scale of TIA.

Cosmos ecosystem "shovel" transformation

Except for TIA, in fact, the mainstream project tokens in the entire Cosmos ecosystem have a trend of "shoveling". However, compared with Celestia, which can cover a wider range of ecology through DA solutions (such as other ecological Rollups that have adopted Celestia DA), the potential income that other project tokens can "mine" is still concentrated on the upcoming projects within the Cosmos ecosystem.

Among many mainstream tokens in the Cosmos ecosystem, it seems that the "shovel" properties of Cosmos' own token ATOM and the token OSMO of the ecological liquidity hub Osmosis are the strongest. Although the former has always been criticized for its lack of value capture ability, it is still the strongest consensus token in the ecosystem, while the latter is the initial liquidity gathering place for new coins launched in the ecosystem. Therefore, it is not difficult to understand why new Cosmos ecological projects choose to view the staking communities of ATOM and OSMO as potential community users.

Only in the past few months, Celestia, Namada, Dymension, and Saga have announced airdrops to ATOM and/or OSMO stakers. Considering that there will be a large number of projects such as Berachain, Nibiru, and Penumbra launching in the Cosmos ecosystem in the near future, the Cosmos ecosystem may usher in a wave of airdrop frenzy.

The attraction of the wealth effect should not be underestimated. Although the airdrop strategy may seem a bit crude, it may be the key to opening up a new situation in the Cosmos ecosystem.