Celestia’s Token Launch and Helix Trading Competition: A Comprehensive Guide

At the core of Celestia’s ecosystem is its native token, TIA, which plays multifaceted roles. Primarily, TIA is instrumental in fortifying the network through the utilization of Proof of Stake (PoS) consensus. Additionally, TIA serves as the means to cover transaction fees on the network, facilitating seamless and efficient operations. In a promising move that resonates with the Ethereum community, Celestia plans to implement a fee burn mechanism akin to Ethereum’s EIP-1559 in the future. This enhancement will likely drive further interest and adoption.

In the near term, the cryptocurrency community eagerly anticipates Celestia’s token launch on major exchanges, which is speculated to occur within the upcoming weeks. This impending listing is expected to inject vitality into the network and expand its accessibility to a broader audience.

To commemorate the launch of Celestia’s Pre-Launch Futures, the platform Helix has introduced an enticing trading competition. This competition boasts a prize pool of 5,000 TIA tokens, sponsored by Helix, for users actively participating in the market. The competition kicks off on October 26, 2023, at 2 PM UTC and concludes on November 5, 2023, at 2 PM UTC. It presents an opportunity for traders to showcase their skills and potentially reap significant rewards.

Here are key aspects of the competition:

• No registration is required to participate; every transaction executed exclusively on the Celestia (TIA) Pre-Launch Futures market on Helix will be automatically counted.

• Transactions must be made through the Helix frontend to be eligible for the competition.

• The winners will be officially announced by November 12, 2023.

• Rewards will be distributed to the top 100 traders with the highest effective real trading volume, encompassing both long (buy) and short (sell) positions during the competition period. Wash trades are excluded from consideration.

The TIA/USDT-30NOV23 market is endowed with specific details:

• Underlying market: TIA

• Quote asset: USDT

• Minimum price tick size: $0.001 USD

• Minimum quantity step: 0.1 TIA

• Expiration date: November 30, 2023

• Maximum leverage: 3X

• Initial margin ratio: 33.0%

• Trade and earn multiplier: 50X maker points; 50X taker points

• Fee structure: -0.05% maker fee; 0.5% taker fee

• Trading hours: 24/7/365

For users eager to participate in this trading competition and engage in trading TIA Pre-Launch Futures on Helix, the journey begins with having USDT in their Injective Wallet. Two avenues are available to achieve this:

Option 1: Bridge USDT from Ethereum to Injective

• Connect your Ethereum wallet, such as MetaMask, Ledger, Torus, or Trezor, and ensure it contains a balance of USDT.

• Navigate to the Account page on Helix and click “Deposit.”

• Choose Ethereum as the network and select USDT as the token for bridging.

• Follow the steps, including setting an allowance and completing the transfer.

Option 2: Onboard with Fiat

• Users can also onboard onto Helix by employing popular fiat on-ramp providers like Kado, Transak, or Payfura.

• Select your payment currency (e.g., USD) and specify the desired amount for conversion.

• Designate Injective as the network to receive your payment amount.

• Follow the provided instructions to complete the transaction.

Upon successful completion of the transaction, users will observe their USDT or INJ balance in their Injective Wallet or Account page under Helix. If necessary, the Swap feature can be employed to convert INJ to USDT, thereby facilitating participation in the trading competition.

To initiate trading in TIA Pre-Launch Futures on Helix, the following steps should be followed:

• Navigate to the TIA/USDT-30NOV23 market on Helix.

• Choose the desired trading side, whether it’s Buy (Long) or Sell (Short).

• Select the preferred order type, which can be Market, Limit, or more advanced options.

• Specify the trade amount and desired leverage.

• Submit the order and complete the approval process with your wallet.

Upon successful order placement, a notification confirming the transaction will be displayed. Beyond the competition itself, participating in this trading event offers the added benefits of market-leading rebates, exemption from gas fees, rapid transaction execution, and top-tier security, contributing to an attractive and compelling trading experience for users.