【Binance Investment @milky_way_zone Research Report】🪂
🟣Project Review:
Project Name: MilkyWay
Project Track: Celestia Ecosystem Liquidity Staking Protocol
Airdrop Cost: Stake Tokens to Earn Points
Interaction Difficulty: 2🌟
Airdrop Probability: 5🌟
Financing Background: 5🌟
Airdrop Value: 4🌟
Overall Rating: 4.5🌟
🟣Project Introduction:#MilkyWayis a liquidity staking solution for the#Celestiaecosystem, initially deployed and run on #Osmosis, with the long-term plan to migrate to Celestia's#rollkitfor local milkTIA issuance. When users stake#TIAon MilkyWay for liquidity, they receive an on-chain representation of the TIA staking status, called #milkTIA. This enables Celestia token holders to gain liquidity for their staked assets, enabling transactions or using them as collateral for various#DeFiproducts.
Liquid staked TIA automatically compounds staking rewards, and users can withdraw TIA to receive their native tokens and accrued staking rewards.
🟣 Financing background:
On April 30, 24, Celestia ecosystem liquidity staking protocol MilkyWay completed a $5 million financing, led by Binance Labs and Polychain Capital, and co-invested by Hack VC, Crypto.com Capital and LongHash Ventures.
🟣 Project features:
MilkyWay is engaged in the liquid staking track, where users are able to stake their native tokens without locking them for a specific period of time, which is achieved by providing users with liquidity tokens in exchange for their staked tokens.
The role of milkTIA:
▪️ Lending: Collateral in lending protocols such as Mars Protocol and Umee.
▪️Staking derivatives: Create staked derivatives such as staker baskets and leveraged staking positions
▪️Perpetual trading: Trade perpetuals on platforms like Levana and dYdX.
▪️Pay Blobspace and Gas fees on Celestia with milkTIA
Celestia, the blockchain MilkyWay is built on, is a modular blockchain that provides a secure and scalable foundation for decentralized applications (dApps). It does this by separating the consensus layer and data availability layer from the execution layer. Security, scalability, and fees will decrease as adoption increases.
