According to official news, MilkyWay said it will launch the Celestia liquidity mortgage derivatives protocol on the Cosmos ecological DEX Osmosis, and the V1 version will be launched in the fourth quarter of 2023. A TIA/stTIA pool on Osmosis will be created when the protocol launches to facilitate liquidity staking. After the release of V1, MilkyWay plans to raise seed funding to expand the team and expand the product suite.
stTIA can be used for DEX liquidity, lending, pledged derivatives, perpetual trading, etc.; MILK will be the native token of the MilkyWay protocol. MILK holders will receive a portion of the 10% protocol fee charged to stTIA holders to generate staking rewards. MILK will also become the governance token of the MilkyWay protocol, meaning MILK holders will have the right to vote on changes to the protocol, such as new features, fee structures and fund management. The MilkyWay protocol promises to be 100% managed by the DAO.
MilkWay team members come from Tendermint, Osmosis, Cosmostation, Crescent, Oak Security, Composable Finance and Crypto.com.
In addition, Milkyway will launch 9 trusted verification nodes, including Stake.fish, Everstake, Chorus One, Allnodes, 01node, DSRV, Cosmostation, Hex Trust and Keplr.