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Celestia reclaims 43m TIA from Polychain in buyback deal
The post Celestia reclaims 43m TIA from Polychain in buyback deal appeared on BitcoinEthereumNews.com. Celestia has officially taken control of Polychain’s last TIA holdings, setting the stage for a carefully managed redistribution. The move closes a chapter on one of crypto’s most profitable staking plays, but opens questions on who inherits the position. Summary Celestia buys back 43.4M TIA from Polychain for $62.5 million, ending a major staking position. Polychain exits with over $80 million in staking profits without selling its principal stake The deal highlights growing concerns around token distribution and emissions-based rewards. On July 24, the Celestia Foundation announced it had purchased 43.4 million TIA from Polychain Capital for $62.5 million, effectively absorbing the venture firm’s remaining position in the modular blockchain project. As part of the transaction, Polychain will undelegate its staked tokens, with Celestia reallocating the assets to new investors under a phased unlock schedule running from August 16 through November 14. 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… — Celestia
The post Celestia reclaims 43m TIA from Polychain in buyback deal appeared on BitcoinEthereumNews.com.
Celestia has officially taken control of Polychain’s last TIA holdings, setting the stage for a carefully managed redistribution. The move closes a chapter on one of crypto’s most profitable staking plays, but opens questions on who inherits the position. Summary Celestia buys back 43.4M TIA from Polychain for $62.5 million, ending a major staking position. Polychain exits with over $80 million in staking profits without selling its principal stake The deal highlights growing concerns around token distribution and emissions-based rewards. On July 24, the Celestia Foundation announced it had purchased 43.4 million TIA from Polychain Capital for $62.5 million, effectively absorbing the venture firm’s remaining position in the modular blockchain project. As part of the transaction, Polychain will undelegate its staked tokens, with Celestia reallocating the assets to new investors under a phased unlock schedule running from August 16 through November 14. 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… — Celestia
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