Modular First Coin: $TIA

Currently, 5.53% of the total supply of $TIA is staked in MilkyWay. Many people are unclear about what this level of data means. Let's make a comparison:

Ethereum ($ETH)

Total Supply: Approximately 120 million $ETH (no hard cap, but low inflation rate)

Circulating Supply: Close to total supply, about 120 million $ETH

TVL: As of March 2025, the DeFi TVL of Ethereum is approximately 22 million $ETH. This calculates that the proportion of $ETH locked in is about 18% of the total supply.

The locking ratio of Ethereum is higher than 5.53%, but its ecosystem is mature, with TVL distributed across hundreds of protocols (such as Lido, MakerDAO, Aave), unlike $TIA which is concentrated in one protocol, MilkyWay.

Solana ($SOL)

Total Supply: Approximately 590 million $SOL.

Circulating Supply: About 500 million $SOL

TVL: As of March 2025, the DeFi TVL of Solana is approximately 50 million $SOL. This calculates that the proportion of SOL locked in is 8% of the total token supply.

The locking ratio of Solana is significantly higher than 5.53%, and the TVL is distributed across multiple protocols like Jito, indicating high ecosystem diversity.

What causes this phenomenon? There are two reasons that can explain it.

First, the diversity and richness of the $TIA ecosystem are still not comparable to ETH and SOL.

Second, MilkyWay has established a foothold in the modular ecosystem due to its first-mover advantage and meticulous product development, building a relatively deep moat.

According to the roadmap, MilkyWay will continue to expand horizontally in the future, covering other modular ecosystems such as Initia. This is a project worth following, so keep a close eye on it.