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Celestia foundation & private investors announce a buy out the entirety of Polychain’s remaining $62.5M of TIA.
Unlock schedule remains the same & they will be un-delegating their entire staked holdings and conducting the transaction ASAP.
This comes after multiple weeks of FUD directly at Polychain dumping their TIA, to the tune of ~$250M.
This very much feels like a ‘worst is behind us’ moment for the Celestia brand & team, which has been battered by FUD. You can start to see the light, amidst a horrific 18 month bear market.
Spoke to John Adler on The Rollup TV earlier about the upcoming upgrades to Celestia, notably Proof of Governance and a renewed focused on tokenomics.
Interesting times.
24.7. klo 23.31
The Celestia Foundation has worked with Polychain Capital to assign Polychain’s entire remaining TIA holdings to new investors.
This month, the Foundation purchased 43,451,616.09 TIA from Polychain Capital for $62.5m. Polychain will shortly be undelegating their entire staked TIA holdings in order to settle this transaction.
To ensure neutral impact to the Foundation’s financial position, the Foundation is finalizing assignment of this TIA to new investors. These transactions will use a rolling unlock schedule, with the first unlock starting on 16 August and completing on 14 November.
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