Celestia Foundation acquires all remaining TIA held by Polychain for $62.5 million, to be transferred to new investors
According to ChainCatcher, Celestia announced on Twitter that the Celestia Foundation has partnered with Polychain Capital to transfer all remaining TIA tokens held by Polychain to new investors.
This month, the Foundation purchased 43,451,616.09 TIA tokens from Polychain Capital for $62.5 million. To complete this transaction, Polychain will soon unstake all of its TIA holdings.
To ensure the Foundation’s financial stability, it is working with new investors to allocate the TIA tokens. These transactions will follow a rolling unlock mechanism, with the first unlock starting on August 16 and concluding on November 14.
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