Finoa announces support for Celestia network, offers staking and custody services at mainnet launch
Finoa is thrilled to announce our full support for the Celestia Mainnet launch. As part of our commitment to the blockchain sphere's leading projects, we’ll provide institutional-grade custody and staking support for the Celestia token (TIA) from the start of the Token Generation Event (TGE). Our regulated, secure and user-friendly Finoa platform will power these operations. Celestia marks Finoa’s fourth protocol integration in the Cosmos ecosystem.
Celestia stands as a next-gen, modular blockchain network aiming to create a scalable data availability layer. This is an advancement towards scalable blockchain designs. Celestia improves scalability by detaching execution from consensus and applying data availability sampling.
In simple terms, Celestia focuses on organizing transactions and assuring their data availability. The more light nodes that participate in sampling, the greater the amount of data the network can safely manage. Thus, Celestia increases the block size without a corresponding rise in the cost to verify the chain.
Finoa and Celestia (TIA) Staking
TIA Staking via Finoa, powered by Finoa Consensus Services, will allow customers to support the security and decentralization of the network while earning staking rewards from day one. Finoa Consensus Services has been supporting the network since early testnets, and with our expert assistance, look forward to supporting investors with both public and white-label nodes.
Celestia Mainnet Launch and Finoa's Role
The Celestia Mainnet launch signifies a key progression for the Celestia ecosystem and blockchain modularity generally. Finoa is proud to partner with Celestia during this pivotal moment, supporting the Celestia community's blockchain innovation endeavors and enabling institutional participation.
Finoa is eager to witness the Celestia network's development and support our users in harnessing the launch's potential. Our team stands ready to offer expert support, from staking setup to asset security and productivity.
Marius Smith, Director of Strategy & Growth at Finoa, said: "We've been in touch with the Celestia team for a number of years and are incredibly excited to support them at launch. We're thrilled about the opportunities that modularization of the blockchain tech stack will offer builders, and this partnership aligns with our commitment to back the most promising projects in the blockchain space from the get-go."
As a qualified custodian regulated by BaFin in Germany, we offer institutional investors curated access to Web3 since 2018. Our service offering includes custody and staking of a wide range of cryptocurrencies and tokens, trading access, and dApp connectivity. We are proud to serve clients globally, from leading venture capital firms and crypto hedge funds to public companies and renowned Web3 projects.