MilkyWay has postponed their TGE and $MILK airdrop to the second half of this year. This delay is due to their plans to build their own chain on Cosmos, powered by Initia and Celestia, as the modular ecosystem continues to expand. Here’s what you need to know.
What is Milky Way?
MilkyWay is a Liquid Staking Protocol similar to Jito, but while Jito focuses on Solana, MilkyWay is tailored for Celestia and Osmosis. However, as the modular ecosystem expands, so does MilkyWay’s scope. They are now planning to build their own chain on the Cosmos network called Minitia, powered by Initia and Celestia. The $MILK token will be issued directly on the Minitia chain to avoid complications with future migrations.
Key Features
- Liquid Staking Protocol: Initially focused on Celestia and Osmosis, MilkyWay provides a liquid staking solution similar to Jito.
- Expansion Plans: Building their own chain on Cosmos, called Minitia, to streamline operations and token issuance.
- Integration with Inishia: Introducing a liquid staking solution for Initia holders, known as $milkINIT.
- Restaking Solutions: Competing against EigenLayer by introducing restaking native tokens and liquid stake tokens like $TIA and $milkTIA.
- Airdrop and Token Generation Event (TGE): Scheduled for H2 2024, with the possibility of delays extending to December 2024.
Funding Insights
MilkyWay’s funding rounds are noteworthy, particularly when compared to similar projects like Jito. Jito raised $10 million, although their valuation was not disclosed, and they generated substantial revenue from MEV solutions. In contrast, MilkyWay raised $5 million, half of Jito’s amount. Despite this, MilkyWay’s revenue generation is less transparent, though they are the second-largest TVL on the Osmosis chain. This competitive positioning in the Cosmos ecosystem highlights MilkyWay’s potential, even as they work to increase their revenue streams and solidify their market presence.
Is it still worth it to participate?
MilkyWay has postponed their airdrop and $MILK token TGE until the second half of 2024 as they focus on constructing their own chain on Cosmos, utilizing Initia and Celestia technologies. They are also rolling out a liquid staking solution tailored for Initia holders and have introduced a multiplier system to incentivize early adopters. Despite market fluctuations, analysts maintain optimism towards MilkyWay and Celestia, citing their robust ecosystems and continuous innovations. Investors are advised to maintain patience and continue accruing points for upcoming airdrop opportunities.
Step-by-Step Guide to the Milky Way Airdrop
- Stay Updated: Stay updated with the latest announcements and developments from the MilkyWay project, including tracking the TGE schedule and staying informed about token issuance timelines. For real-time updates, follow them on Twitter.
- Liquid Staking: Continue liquid staking $TIA or holding $milkTIA on MilkyWay. Your points are tracked and visible in the points section.
- Multiplier Badges: Milky Way has introduced a system of multiplier badges to reward early adopters. These badges will enhance your points:
- First Tranche: December 18 – February 14
- Second Tranche: February 15 – April 1
- Third Tranche: April 2 – May 9
- Fourth Tranche: May 10 – June 15
- Earn Additional Points: Participate in new staking opportunities, such as $milkINIT, to earn both mPoints and Initia XP in the Initia Incentivized Testnet (use code MLXQ6RTR for additional XP) and the Blackwing Testnet to maximize your rewards.
- Evaluate and Hold: Assess the current market conditions and make informed decisions about holding or accumulating Celestia. The ecosystem remains strong despite recent price fluctuations.