Celestia's Bold Proposal: Ditching Staking or a $100M Team Cash-Out?
The Stake That Broke the Camel’s Back
When Celestia co-founder John Adler proposed replacing Proof-of-Stake (PoS) with “Proof-of-Governance” (PoG), the crypto community did a double-take. As someone who’s written smart contracts since Solidity v0.4.0, even I had to re-read the whitepaper twice. The proposal suggests:
- 95% reduction in TIA issuance
- Complete elimination of staking contracts
- Transition to off-chain validator selection
On paper? A bold rethinking of blockchain economics. In practice? The timing smells worse than a Ponzi scheme’s balance sheet.
Follow the Money Trail
Blockchain doesn’t lie. While Adler pitched PoG as an anti-inflation measure, on-chain data reveals core team members dumped $109M worth of TIA post-unlock. That includes:
- 2.6M TIA sold by address celestia1erglsz… ($27.3M)
- OTC transactions totaling $25M+ linked to co-founder Mustafa
“I never sold a single TIA,” claimed COO Nick White. Cute statement - pity the blockchain ledger disagrees.
DAO or Die Trying?
The technical merits deserve analysis. Adler argues current PoS is essentially “Proof-of-Authority with extra steps,” proposing instead:
- Validators paid via transaction fees (no new issuance)
- Governance through off-chain committees
- Daily \(100-\)300 fee burns
It’s an elegant model… if implemented by teams that haven’t already liquidated their bags. My valuation models show TIA trading at 70x its actual protocol revenue - suggesting this “innovation” might just be rearranging deck chairs on the Titanic.
The Bankless Connection
Interesting how certain influencers like Bankless’ David became sudden Celestia cheerleaders despite:
- Zero hands-on experience with Celestia’s tech
- Contradictory statements about personal TIA holdings
Meanwhile, leaked docs suggest seven-figure payments to media outlets for “positive coverage.” In crypto, we call this “marketing.” The SEC calls it… well, you know.
Survival Mode Activated
Celestia claims $100M runway and compares TIA’s 92% drop to “industry norms.” Having survived three crypto winters, I’ll concede their point - most alts bleed out. But few combine:
- Radical protocol changes
- Massive insider selling
- Paid influencer campaigns
all while their “modular blockchain” narrative gathers dust.
The coming months will reveal whether PoG represents genuine innovation or simply Proof-of-Grift. Either way, I’m keeping my popcorn - and cold wallet - ready.
ZenChainX
Hot comment (9)
When Your Whitepaper Needs a Rewrite
Celestia’s switch from PoS to ‘Proof-of-Governance’ would be revolutionary… if the team hadn’t cashed out $109M first. Nothing says ‘believes in the project’ like dumping your bags right after unlock!
Blockchain Never Lies
The COO claims he ‘never sold a single TIA’ - pity the immutable ledger disagrees. This is why we love crypto: even the most creative storytellers can’t argue with on-chain data.
Validators or Vacation Homes?
Adler’s proposal to pay validators through fees instead of issuance is elegant - if you ignore that 70x revenue multiple. Maybe they’re just prepping for a luxury validator retreat in the Bahamas?
Thoughts? Or should we all just grab popcorn and watch this modular Titanic rearrange its deck chairs?
¿Prueba de Gobernanza o Prueba de Desastre?
Celestia propone cambiar el PoS por ‘Prueba de Gobernanza’, pero con los fundadores vendiendo $100M en TIA, huele más a ‘Prueba de Salida Rápida’.
Dinero Habla, Blockchain No Miente
El COO dice ‘nunca vendí TIA’, pero el ledger muestra lo contrario. ¡Hasta mi abuela con su Nokia 1100 lo ve venir!
Popcorn Listo
Si esto es innovación, prefiero quedarme con Bitcoin. ¿Ustedes qué opinan? ¡Comenten abajo!
When ‘Innovation’ Smells Like Exit Liquidity
Celestia’s switch from PoS to “Proof-of-Governance” would be groundbreaking… if it didn’t coincide perfectly with a $109M team cash-out. As a blockchain analyst, I’ve seen creative tokenomics before - but timing proposal announcements right after unlocking periods? That’s not PoG, that’s Proof-of-Grift.
Blockchain Doesn’t Lie (But Teams Do)
The COO claims “never sold a single TIA” while on-chain data shows millions liquidated. Reminds me of my ex who “wasn’t hungry” but ate my entire pizza. At least my ex didn’t charge me gas fees for the betrayal.
Popcorn-Ready Drama
Between paid influencer campaigns and this “revolutionary” protocol change that conveniently reduces their token holdings’ dilution, Celestia is writing the perfect crypto soap opera. Grab your cold wallets folks - this show’s just getting started!
Poof! The Staking Disappears
Celestia’s new “Proof-of-Governance” looks suspiciously like proof-of-cashing-out. When your whitepaper reads better as a magic trick script (“And for my next act - making 95% of TIA vanish!”), maybe reconsider.
Follow the Money (Straight to Their Wallets)
That $109M team sell-off wasn’t just bearish - it was Olympic-level vaulting over ethical hurdles. Bonus points for the COO’s “I never sold” claim vs blockchain’s immutable receipts. Pick a struggle!
Bankless or Clueless?
Nothing bonds influencers and projects faster than seven-figure “educational content” budgets. At this rate, Celestia should rebrand as Cash-elestia.
Grabs popcorn while waiting for PoG to mean Proof-of-Gone
A Nova Moda: Governança com Saidinha Bancária
Quando o Celestia anunciou sua ‘Prova-de-Governança’, pensei: ‘Finalmente, inovação!’… até ver os cofundadores sacando US$109M em TIA. Conveniente essa ‘inovação’ que vem com saque ilimitado pros criadores, não?
O Ledger Não Mente
O COO diz que não vendeu nenhum TIA. Só faltou avisar o blockchain - aquele fofoqueiro digital que registra tudinho! Até influencer virou cheerleader misterioso… será que o cheque também caiu na blockchain?
E vocês? Apostam nessa ‘Prova-de-Governança’ ou já estão de olho no próximo hype? Comentem abaixo - prometo não vender meus comentários depois!
When ‘Innovation’ Smells Like Exit Liquidity
Celestia’s ‘Proof-of-Governance’ proposal would be brilliant… if the team hadn’t already dumped $109M worth of TIA. Nothing says ‘we believe in this project’ like OTC sales timed with protocol changes!
DAO Math:
- Step 1: Eliminate staking rewards
- Step 2: Sell your bags
- Step 3: Call it ‘anti-inflation’
Genius playbook - if you’re aiming for the SEC’s hall of fame. The only thing more modular than their blockchain is their ethics! grabs popcorn
Proposta revolucionária ou saída estratégica?
Quando Celestia anunciou sua mudança do PoS para ‘Prova de Governança’, até meu contrato inteligente ficou confuso! E agora descobrimos que os cofundadores venderam US$109M em TIA… Conveniente, não?
Blockchain não mente: Nick White diz que ‘nunca vendeu um TIA’, mas o ledger discorda. Parece aquela história de ‘não foi eu’ quando a mãe acha chocolate faltando!
E você? Acredita nessa ‘inovação’ ou já está com a carteira fria pronta? #FicaADica
Prova de Governança ou Prova de Golpe?
Celestia está nos dando um masterclass em como ‘inovação’ pode ser só um eufemismo para ‘venda de bag’ disfarçada. Quando o co-fundador diz que não vendeu TIA, a blockchain desmente na cara dura - é tipo dizer que não comeu o último pedaço de pizza com molho ainda no queixo.
Matemática Criativa
Reduzir emissão em 95% e eliminar staking soa bonito, mas quando você vê os milhões sendo sacados pelos insiders, a conta não fecha. Até meu código Solidity chorou com essa lógica.
E você, vai cair nessa ‘inovação modular’ ou prefere guardar seu dinheiro no colchão? (Pelo menos o colchão não tem backdoor!)
Celestia está a reinventar a roda… ou só a esvaziar os bolsos?
A proposta de trocar Proof-of-Stake por “Proof-of-Governance” é tão ousada quanto um NFT de foto de macaco. Mas quando os fundadores liquidam $109M em TIA logo depois, a pergunta que fica é: isso é inovação ou só um exit strategy disfarçado?
O lado bom? Pelo menos são honestos no nome: “Proof-of-Governance” realmente parece um eufemismo para “Proof-of-We-Took-The-Money-And-Ran”.
E vocês, acham que isso vai dar certo ou já estão de olho no próximo shitcoin? 😂
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