Celestia (TIA), a modular blockchain project, has drawn attention following a significant drop in its currency value. Co-founder John Adler proposed a governance change.
Dramatic Price Drop of TIA
Recently, TIA's value fell by 93%, sparking considerable reactions within the community. This drop prompted discussions about changing the current governance system.
New Proposal: PoG Instead of PoS
John Adler proposed to replace the existing Proof of Stake (PoS) mechanism with an experimental Proof of Governance (PoG). The new model reduces the annual supply of TIA by 20 times, lowering the staking rewards from $127 million to $4 million. Adler claims the new mechanism will allow token holders to directly choose network operators without locking their tokens.
Community Reaction
Despite criticism of the traditional PoS mechanism for its influence on inflation, Adler's proposal has received positive feedback from the community. Discussions are ongoing, and many anticipate that this change could lead to fundamental shifts in Celestia's value generation model.
The proposed changes could significantly impact the future of Celestia and its users. Meanwhile, the community is closely watching the situation's developments.
