From Airdrop to Freefall: Celestia’s Tokenomics Under Fire

Description

When Celestia airdropped its TIA token to 580,000 users in 2023 it was the plat du jour among traders and investors, with the project saying the release aligned with a new "modular era." However, despite rallying to a dizzying $20 price point in September, 2024, it has since slumped to less than $1.65 in a desperate plight spurred by a series of massive cliffs in the token's vesting schedule. Data from Tokenomist shows that core contributors and early backers, notably a slew of venture capitalis...