According to Foresight News, Twitter user Milkyway announced the upcoming launch of the Celestia liquidity staking derivatives protocol, MilkyWay, on the Cosmos ecosystem's decentralized exchange (DEX) Osmosis. The V1 version is set to be released in the fourth quarter of 2023. stTIA can be used for DEX liquidity, lending, staking derivatives, perpetual trading, and more. Additionally, a 10% protocol fee will be charged on staking rewards generated for stTIA holders.
The MilkyWay DAO will be fully managed by the native token MILK and will oversee the protocol. Team members of MilkyWay come from Tendermint, Osmosis, Cosmostation, Crescent, Oak Security, Composable Finance, and Crypto.com. Furthermore, Milkyway will introduce nine trusted validator nodes, including Stake.fish, Everstake, Chorus One, Allnodes, 01node, DSRV, Cosmostation, Hex Trust, and Keplr.
