MilkyWay ($milkTIA, $MILK) Token Airdrop Information
MilkyWay ($milkTIA, $MILK) is the first liquid staking protocol for Celestia’s TIA token. There are rumors that MilkyWay may airdrop $50 per wallet. The MilkyWay team is also working to help users qualify for a potential Celestia ($TIA) token airdrop! This means double airdrop opportunities! This article is a guide to the MilkyWay ($milkTIA, $MILK) potential airdrop.
Check out our Celestia ($TIA) token airdrop guide. here.
Check out the updated milkTIA Celestia Staking Airdrop video guide
What is Milky Way?
Provided by Milky Way Liquid Staking Solutions For TIA in Celestia. When you stake TIA coins on MilkyWay, you will receive an on-chain representation of your TIA staking position called MilkTIA. Staked TIA is used to protect Celestia. You can use milkTIA for various DeFi activities.
Does MilkyWay have tokens?
MilkyWay has two tokens: $milkTIA and $MILK. MilkTIA tokens are distributed as a reward for staking TIA tokens on MilkyWay. milkTIA tokens can be used for lending, derivatives staking, perpetual trading, and payments for Blobspace and gas on Celestia.
On the other hand, $MILK will be the native token of the MilkyWay protocol. $MILK holders will receive a portion of the 10% protocol fee charged on all staking rewards generated by milkTIA holders. $MILK will also be the governance token of the MilkyWay protocol. This means that $MILK holders will have the power to vote on protocol changes.
How to get a potential MilkyWay ($milkTIA, $MILK) token airdrop?
Here’s how to receive a potential MilkyWay ($milkTIA, $MILK) token airdrop:
necessary time: 5 minutes
- Setting up a Cosmos, Kepler, or Leap Wallet
To participate in the MilkyWay airdrop, you’ll need a Cosmos, Kepler, or Leap Wallet, so buy one of these if you don’t already have one.
- Connect to Milky Way
Connect your wallet to https://app.milkyway.zone/. Make sure the website is correct. Otherwise you risk losing your funds!
- Steak TIA
Select the amount of TIA you want to stake and click “Stake.” The cost per transaction is about 7 cents!
- Earn MilkTIA tokens
You will receive milkTIA rewards in return for staking TIA. milkTIA is MilkyWay’s liquid staking token and these rewards are automatically compounded.
- Check your rewards
You can check your MilkTIA rewards in your wallet. If you use the Kepler wallet, you can also check your rewards on your Kepler dashboard.
- Own MilkTIA tokens!
There is nothing you need to do afterwards other than holding your MilkTIA tokens. Many people are predicting that if you hold more milkTIA tokens, you can get more MILK tokens. And once MILK tokens are listed on major exchanges like Bybit or Binance, you can potentially make huge profits by trading these tokens.
- Optional: Leave out the milkTIA
There is an option to withdraw milkTIA tokens in exchange for TIA. To do this, click on the “Withdrawal” tab, select the milkTIA amount you want to withdraw and click “Withdrawal Request”. You don’t have to pay withdrawal fees if you wait approximately 21-24 days for your withdrawal to be processed. But the risk is that you forget it.
Otherwise, you can exchange milkTIA for TIA tokens for immediate withdrawal. However, withdrawal fees must be paid by OSMO. So make sure you have enough OSMO in Osmosis Chain for this.
Bonus: How to earn additional milkTIA rewards
These steps are not required for the MilkyWay ($milkTIA, $MILK) token airdrop. However, this could potentially help milkTIA gain additional production. There are two ways to earn additional milkTIA rewards:
Provide liquidity to Osmosis
- Connect your wallet to https://app.osmosis.zone/pool/1335.
- Click “Create Position” and choose between managed or manual strategies to provide liquidity for others to enter or exit the pool. However, while manual strategies allow you to adjust liquidity ranges, they require a lot of hands-on management.
- Select the amount of milkTIA and TIA tokens, then click “Add Liquidity”.
Providing liquidity to Quasar
- Go to the milkTIA/TIA Dynamic S+ vault at https://app.quasar.fi/vault/milktia-tia-dynamic-s.
- Connect your Keplr, Cosmostation, Leap or WalletConnect wallet.
- Select the amount of TIA and milkTIA tokens you want to deposit and click “Deposit”.
MilkyWay Airdrop Review
There are several factors to consider when reviewing airdrops. First, there is a possibility that the project will conduct an airdrop in the first place. We will then look at how many tokens the project will allocate to the airdrop campaign and the difficulty of participating in the airdrop. It is also important to look at the utility of the token to ensure there is a real use and purpose for participating in the airdrop in the first place. Lastly, a factor to consider when reviewing an airdrop is whether a lock-up period applies to the airdropped tokens.
Airdrop possibilities: The MilkyWay airdrop is currently live and no screenshots have been taken yet.
Airdropped token allocation: MilkyWay airdrop allocation is unknown.
Airdrop Difficulty: The MilkyWay airdrop requires participants to stake TIA to the protocol, which is not difficult. There is an additional optional task to earn additional milkTIA rewards that requires users to provide liquidity, which is slightly more complicated.
Token Utility: milkTIA tokens can be used for various DeFi activities on MilkyWay. Meanwhile, $MILK token holders receive a portion of the protocol fees and are entitled to participate in the governance of the MilkyWay protocol.
Token Lockup: There is no information about MilkyWay token lockup yet.
