It is Airdrop season and yesterday, after too many days listening to all the talk about Celestia and its $TIA token, I decided to get some positions in several of the Cosmos Network chains as there are good reasons to expect some new projects launching their tokens there and compensating those staking in the network. One of them is the Milky Way from Celestia Chain.
For those who have never heard about it. The Cosmos Network is a constellation DPOS of L1's interconnected between them so it is quite easy to move assets from one to another. It has been growing big in the past two years and now, some of its chains are starting to pump. Some of the most important ones are Celestia, Osmosis, Injection, or Cosmos Hub, with their corresponding genesis tokens, TIA, OSMO, INJ, and ATOM. You can get an idea of the Cosmos Constellation by visiting this link which presents a nice 2D or 3D representation chart of all of them.
They all can be managed with Keplr Wallet, which similar to what Metamask does with EVMs, can offer you a way to operate with all the chains in the Cosmos Network. They also let you stake to the chain delegators earn yield, and this is the interesting part about the coming airdrops as new protocols are compensating delegators when distributing the new tokens and that is the reason it is very promising to have some tokens staked in those chains. One of the most promising ones is Celestia, with the TIA token. Keep in mind there is a 21-day period for unstaking.
There is also a common DEX used to swap between all of the tokens in those chains, it is called Osmosis and it is also a Blockchain itself, it is similar to what Thorchain has done to offer a DEX to swap between independent Blockchains such as BTC, ETH.
Celestia is offering a way for new networks to launch and use their data availability and have already a huge network of Apps. One way to stake the TIA token is directly delegating to one of the nodes using the Kepler wallet or the Mikly liquid staking service. It is all speculation but there are big chances Milky will do an airdrop and using its service as a delegation method, get you Milk tokens as a backing asset, instead of having your delegation tokens locked on the node.
You can follow the DynamoDefi video presenting some of the Cosmos Network's potential airdrop opportunities if you feel about jumping into the airdrop wagon. And if you need to, Rocket Exchange is an excellent bridge to move assets from most L1s to Cosmos chains.
Posted Using InLeo Alpha
So great to see you exploring opportunity on other blockchains for the learning and diversity. I am not sure I have the bandwidth to dive in but will definitely put it on my radar and discuss with my crypto crew.
Great to share what you know and the opportunity too!
I have created a site documenting what I believe may be good resources for newcomers.
I am also including the Airdrop opportunities although some of them require good knowledge of crypto ecosystems.
You can check the link on my profile if you want to. I keep adding info to the page