📅 July 24, 2025 | San Francisco, USA.
Polychain Capital, one of the most influential crypto venture capital funds in the ecosystem, has just settled all of its remaining participation in Celestia (ATA) for $ 62.5 million, selling it directly back to the celestia Foundation, the Block revealed.
The movement occurs in the middle of a crossfire of criticism that indicate that Polychain, together with other VC, have systematically drained the circulating supply of Aunt selling staking rewards, pressing its price and generating discontent in the community.
What happened exactly?
Polychain was one of the first large institutional investors in Celestia, the innovative modular blockchain project designed to separate consensus and execution, facilitating the construction of sovereign Rolllups and Chains.
During the last two years, Polychain accumulated and staked a huge position of Tia tokens, obtaining juicy staking rewards.
Now, with the sale of this remnant:
Polychain is completely retired as a direct holder of Aunt. The buyer is Celestia Foundation herself, which absorbs tokens to reduce the sale pressure in exchanges.The operation is valued at $ 62.5 million, closing a very profitable investment cycle for the VC.
The dilemma of Staking Rewards
This sale revives one of the hottest debates in the crypto world: do VC abuse the staking models?
Many users accuse great funds of:
🔹 Ensure huge tokens assignments at seed prices.
🔹 Stake those tokens to receive inflationary rewards.
🔹 Systematically sell those rewards in the open market, pressing prices and draining liquidity.
In the case of Celestia, some analysts highlight that:
The sale of VC rewards has been one of the factors behind the aunt's fall from maximum $ 12 to current ranges of $ 5-6. The Foundation must now repurchase part of that supply to protect the stability of the Token.
What does it mean for Celestia?
For Celestia Foundation, this purchase is an attempt to:
✅ Avoid higher tokens sales in the open market.
✅ Keep the narrative that the SUPPY inflation will be used for ecosystem growth, not to enrich the first VC.
✅ Recover strategic tokens to relaunch development incentives and grants to new teams.
Key figures to dimension
Tokens sold: $ 62.5 million in TIA.Current Aunt Price: ~ $ 5.7.Original Polychain participation: valued at more than $ 250 million from its first rounds.Performance 2023-2025: TIA was one of the pioneers in Modular Blockchain, attracting hundreds of Rollup projects.
Topic Opinion:
This does not surprise me, but you must open your eyes to the community: every time you support a project backed by large VCS, you have to understand that these tokens sooner or later will come to the market.
The Celestia play buying its own Suppy is a form of damage control, but the lesson is clear: the design of the tokenomics and the initial distribution are as important as technology.
If the community does not require clear rules to limit the sale of rewards, the story will be repeated again and again.
💬 Is it okay that the VCS Stakeen and sell unrestricted rewards?
Dam your comment ...
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