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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Celestia

# Celestia Staking market cap Methodology

## 1. Overview

The total USD value of native assets currently delegated (staked) on the Celestia network is measured by the staking market cap. Economic security and participation in Celestia's proof-of-stake consensus mechanism are reflected by this metric. A running balance of staked assets is maintained by tracking delegation and undelegation events, with native asset amounts converted to USD using end-of-day price feeds.

## 2. Data sources

- **Blockchain events**: `delegate` and `unbond` events from the Celestia network, covering Celestia
- **External data**: End-of-day price feeds and asset metadata

## 3. Step-by-step calculation

### Component A: Delegation tracking

- **Purpose**: Captures all native asset delegation (staking) events on the Celestia network
- **Logic**: Blockchain events are filtered for `delegate` event types. Structured data is extracted from JSON event attributes using JavaScript parsing, specifically targeting the `amount` and `validator` fields. Numeric amounts are isolated from currency-suffixed strings through regex pattern matching to remove the 'utia' suffix. Daily delegation amounts are aggregated by truncating timestamps to day boundaries.
- **Key fields**: `amount` (extracted from event attributes), `validator` (delegation target), `block_timestamp` (converted to daily granularity)

### Component B: Undelegation tracking

- **Purpose**: Captures all native asset undelegation (unstaking) events on the Celestia network
- **Logic**: Blockchain events are filtered for `unbond` event types. Identical JavaScript parsing and regex extraction logic as delegation tracking are applied to extract the `amount` and `validator` from event attributes. Daily undelegation amounts are aggregated by truncating timestamps to day boundaries.
- **Key fields**: `amount` (extracted from event attributes), `validator` (undelegation source), `block_timestamp` (converted to daily granularity)

### Component C: Net staking movement calculation

- **Purpose**: Combines delegation and undelegation data to calculate daily net changes in staked assets
- **Logic**: Delegation events (treated as positive amounts) and undelegation events (treated as negative amounts) are combined. Daily net changes in staked native assets are determined by grouping by daily timestamp and summing all movements.
- **Key fields**: `timestamp` (daily), `assets_staked_balance` (net daily movement)

### Component D: Running balance calculation

- **Purpose**: Maintains a cumulative total of assets staked over time
- **Logic**: A running total of staked assets is calculated from inception by accumulating daily net changes. A fill-forward methodology is applied to ensure a continuous daily series of values, even for days where no staking events occur.
- **Key fields**: `assets_staked` (cumulative running total), `timestamp` (continuous daily series)

### Component E: USD conversion and final aggregation

- **Purpose**: Normalize values to USD for cross-asset comparison
- **Logic**: The running staked asset balance is utilized as the base metric value. Native asset amounts are normalized by decimal precision and converted to USD using end-of-day price feeds. Daily granularity is maintained throughout the calculation with timestamp truncation to day boundaries. Staking market cap is calculated by multiplying the daily running total of staked native assets by the end-of-day asset price.

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Value of native tokens currently staked to secure a proof-of-stake network.

CelestiaTIA

Staking market cap

Staking market cap

Competitive landscape