Celestia Foundation has completed the buyback of the last portion of TIA tokens from the venture firm Polychain Capital for $62.5 million. This marks the final stage of the exit for one of the project’s early investors against the backdrop of announced changes in the staking system of the Celestia network.
This is reported by Finway
Details of the deal and new rules for TIA
Under the terms of the agreement, the foundation acquired 43,451,616.09 TIA tokens at a price of approximately $1.44 per coin, reflecting the market value at the beginning of July 2025. Celestia Foundation plans to redistribute these assets among new investors according to the updated unlocking schedule. The distribution will take place from August 16 to November 14, although the names of the new owners have not been disclosed by the company.
“The Celestia Foundation has worked with Polychain Capital to assign Polychain’s entire remaining TIA holdings to new investors. This month, the Foundation purchased 43,451,616.09 TIA from Polychain Capital for $62.5m. Polychain will shortly be undelegating their entire staked…”
The deal was made against the backdrop of changes in the mechanisms for accruing staking rewards. The new update to the Celestia network, called Lotus, which is planned for implementation at the end of July, will lock a portion of the staking rewards in accordance with the unlocked share of tokens. For example, if an owner has access to only 50% of their balance, they will only have access to half of the accrued rewards. In the case of full locking, both assets remain inaccessible until the unlocking period is complete.
Reasons for the sale and market impact
Polychain Capital’s decision to sell all remaining TIA holdings was a response to criticism regarding the mass sale of staking rewards while the majority of tokens remained locked according to the vesting schedule. Analytical estimates suggest that the total sales by Polychain could reach $242 million, of which $179 million are liquid staking rewards. The company’s initial investments in the Celestia project amounted to approximately $20 million in rounds A and B.
The introduction of restrictions through the Lotus update aims to reduce speculative pressure on the market from large addresses with locked tokens. Thus, the update will ensure a more even distribution of rewards and stability within the Celestia ecosystem.