Validators process transactions and receive fees from users (supply-side fees). DA costs for users are reflected in the transactions fees paid.

Celestia is a proof of stake blockchain optimized for data availability (DA). Celestia was founded by Mustafa Al-Bassam, etc. and launched in 2023.

TIA holders own and govern the protocol. They currently do not take a cut of the total transaction fees paid by users (revenue). Celestia's investors include Polychain Capital, Placeholder, Coinbase Ventures, etc.

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Blockchains (L1)

Celestia

# P/F ratio (circulating) Methodology

## Overview

P/F ratio (circulating) measures the circulating market cap relative to annualized fees. It shows how highly the project is valued relative to the activity users are willing to pay for, regardless of whether the project monetizes.

${market_cap_circulating} / (rolling_avg(${fees}, 30) * 365)

Circulating market cap relative to annualized fees.

CelestiaTIA

P/F ratio (circulating)

P/F ratio (circulating)

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