MilkyWay ($milkTIA, $MILK) is the first ever liquid staking protocol for Celestia’s TIA tokens. There are rumours that MilkyWay has the potential to airdrop $50 PER WALLET. Also, the MilkyWay team are working to allow its users to also qualify for a potential Celestia ($TIA) token airdrop! This means an opportunity for DOUBLE airdrops! This article is a guide to the MilkyWay ($milkTIA, $MILK) potential airdrop.
Check out our Celestia ($TIA) token airdrop guide HERE.
Check out our UPDATED milkTIA Celestia Staking airdrop video guide
What is MilkyWay?
MilkyWay offers a liquid staking solution for Celestia’s TIA. By staking your TIA coins with MilkyWay, you receive an on-chain representation of your TIA staking position called milkTIA. The staked TIA is used to secure Celestia. You can utilize milkTIA for various DeFi activities.
Does MilkyWay have a token?
MilkyWay will have 2 tokens, $milkTIA and $MILK. milkTIA tokens are distributed as a reward for staking TIA tokens on MilkyWay. milkTIA tokens can be used for lending, staking derivatives, perpetual trading and as payment 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, meaning that $MILK holders will have the power to vote on changes to the protocol.
Will MilkyWay to an airdrop?
MilkyWay have confirmed they will do an airdrop. The MilyWay mainnet also only went live on 18th December 2023 so we are still very early for this airdrop!
How to get a potential MilkyWay ($milkTIA, $MILK) token airdrop?
Here’s how to get a potential MilkyWay ($milkTIA, $MILK) token airdrop:
Time needed: 5 minutes
- Set up Cosmos, Kepler or Leap Wallet
You will need a Cosmos, Kepler or Leap Wallet to participate in the MilkyWay airdrop, so get one of these wallets if you have not already.
- Connect to MilkyWay
Connect your wallet to https://app.milkyway.zone/. Make sure you have the correct website or you risk losing your funds!
- Stake TIA
Select how much TIA you wish to stake and click “Stake”. Don’t stake all your TIA because you need some of it for gas fees. It only costs around 7 cents per transaction!
- Earn milkTIA tokens
You will get milkTIA rewards in return for staking TIA. milkTIA is MilkyWay’s liquid staking token and these rewards automatically compound.
- Check rewards
You can see your milkTIA rewards in your wallet. If you are using Kepler wallet, you can also see your rewards in your Kepler dashboard.
- Hold your milkTIA tokens!
There is nothing that needs to be done afterwards other than to hold your milkTIA tokens. Many are predicting that holding more milkTIA tokens may mean you will get more MILK tokens. And when MILK tokens are listed on major exchanges such as Bybit or Binance you would be able to trade these tokens, potentially earning huge profits.
- Provide liquidity to Osmosis
Connect your wallet to https://app.osmosis.zone/pool/1335. Click “Create a position” and choose between Managed or Manual strategies to provide liquidity for others who will be entering or exiting the pool. Select the amount of milkTIA and TIA tokens you will provide and click “Add liquidity”.
- Provide liquidity to Quasar
Go to the milkTIA/TIA Dynamic S+ vault. Connect your Keplr, Cosmostation, Leap or WalletConnect wallet. Finally, choose the amount of TIA and milkTIA tokens you wish to deposit and click “Deposit”.
- Optional: Withdraw milkTIA
You have the option to withdraw your milkTIA tokens in exchange for TIA. To do this, click on the “Withdraw” tab, select the amount of milkTIA you wish to withdraw and click “Request Withdrawal”. Note that if you are willing to wait around 21-24 days for the withdraw to process, you will not need to pay any withdrawal fee. The risk however is that you forget about it.
Otherwise, you can choose to withdraw immediately by swapping your milkTIA for TIA tokens. However, you will need to pay withdrawal fees in OSMO. So, make sure you have enough OSMO on Osmosis Chain for this. However, we do not recommend swapping out our milkTIA tokens as this may reduce or disqualify you from a potential MilkyWay airdrop. - Complete Zealy quests
Connect your wallet to the Milky Way Zone Zealy Questboard. Complete the quests which include joining their social media accounts and interacting with their posts.
BONUS: How to earn additional milkTIA rewards
These steps are not necessary for the MilkyWay ($milkTIA, $MILK) token airdrop. But it could potentially help you earn additional yields on your milkTIA. Here’s 3 ways to earn additional milkTIA rewards.
Provide liquidity to Osmosis
- Connect your wallet to https://app.osmosis.zone/pool/1335
- Click “Create a position” and choose between Managed or Manual strategies to provide liquidity for others who will be entering or exiting the pool. Note however that the manual strategy allows you to adjust the liquidity range, but it will require a lot of hands-on management.
- Select the amount of milkTIA and TIA tokens, then click “Add liquidity”.
Provide 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.
- Choose the amount of TIA and milkTIA tokens you wish to deposit and click “Deposit”.
Deposit and lend on Demex
Demex is a protocol in the MilkyWay ecosystem. By completing these tasks, you will be positioning yourself for both the MilkyWay and Demex $DMX token airdrop. This task is URGENT because there is a lending cap of 750,000 milkTIA. So, you need to hurry! Here’s how to position yourself for the MilkyWay and Demex airdrops:
- Sign up for Demex and get 5% bonus HERE
- On Demex, go to “Fee Settings” and de-select the option to use milkTIA to pay for fees.
- Optional: To prioritise paying fees using Demex’s native $SWTH token (which we find is cheaper), go to Osmosis to swap some $SWTH. Afterwards you will need to swap your $SWTH from the Osmosis to the Carbon chain. To do this, go to https://ibc.fun/ and select Osmosis and OSMO in the “From” section, and Carbon and SWTH in “To” section. Then, you will be able to see your $SWTH balance in your Demex account balance.
- Go to https://ibc.fun/ and transfer your milkTIA from the Osmosis chain to the Carbon chain.
- Go to https://app.dem.exchange/nitron, scroll down and click “lend” on the milkTIA lending pool.
- Select the amount of milkTIA you wish to lend and click “Lend”.
MilkyWay airdrop review
When reviewing an airdrop, there are several factors to consider. First, the likelihood the project will even do an airdrop in the first place. Then, to look at how many tokens the project intends to allocate towards airdrop campaigns, as well as the difficulty in participating in their airdrop. It is also important to look at the utility of the token so that there will be an actual use and purpose in participating in the airdrop in the first place. Finally, a factor to consider when reviewing an airdrop is whether the airdropped tokens are subject to any lockup period.
Likelihood of airdrop: The MilkyWay airdrop is now live, and a screenshot has not been taken yet.
Airdropped token allocation: The MilkyWay airdrop allocation is unknown.
Airdrop difficulty: The MilkyWay airdrop requires participants to stake TIA on the protocol, which is not difficult. There are additional optional tasks to earn additional milkTIA rewards that require users to provide liquidity, which is slightly more complex.
Token utility: The milkTIA token can be used for various DeFi activities on MilkyWay. Meanwhile, $MILK token holders will receive a portion of the protocol fees and entitles them to participate in the governance of the MilkyWay protocol.
Token lockup: There is no information on the MilkyWay token lockup yet.
