MilkyWay has launched a liquid staking protocol for Celestia TIA, allowing users to stake their Celestia (TIA) tokens and receive milkTIA tokens in return. This offers a more efficient option compared to traditional staking methods. Celestia is a modular network used by Layer 2 rollup blockchains for data availability and consensus. TIA tokens are used by validators to secure the network. With milkTIA, users can maintain the liquidity of their staked TIA assets and use them as collateral or trade them in various DeFi products. Unlike other Cosmos-based blockchains, this arrangement eliminates the typical 21-day unbonding period. MilkyWay’s liquid staking solution is built on smart contracts on Osmosis, the DeFi hub for the Cosmos ecosystem, which operates without a dedicated Layer 1 blockchain. The solution consists of a multisig setup managed by seven reputable operators, and it also includes a TIA:milkTIA liquidity pool on Osmosis' decentralized exchange. Since its mainnet release, TIA's market value has increased by almost 400%. Read more AI-generated news on: https://app.chaingpt.org/news