MiCA Whitepaper Inline XBRL

N	Field	Content
00	Table of contents	General Information Part A: Information about the offeror or the person seeking admission to trading Part B: Information about the issuer, if different from the offeror or person seeking admission to trading Part C: Information about the operator of the trading platform in cases where it draws up the crypto-asset white paper and information about other persons drawing the crypto-asset white paper pursuant to Article 6(1), second subparagraph, of Regulation (EU) 2023/1114 Part D: Information about the crypto-asset project Part E: Information about the offer to the public of crypto-assets or their admission to trading Part F: Information about the crypto-assets Part G: Information on the rights and obligations attached to the crypto-assets Part H: Information on the underlying technology Part I: Information on the risks Part J: Information on the sustainability indicators in relation to adverse impact on the climate and other environment-related adverse impacts
01	Date of notification	2026-05-12
02	Statement in accordance with Article 6(3) of Regulation (EU) 2023/1114	This crypto-asset white paper has not been approved by any competent authority in any Member State of the European Union. The operator of the trading platform of the crypto-asset is solely responsible for the content of this crypto-asset white paper.
03	Compliance statement in accordance with Article 6(6) of Regulation (EU) 2023/1114	This crypto-asset white paper complies with Title II of Regulation (EU) 2023/1114 of the European Parliament and of the Council and, to the best of the knowledge of the management body, the information presented in the crypto-asset white paper is fair, clear and not misleading and the crypto-asset white paper makes no omission likely to affect its import.
04	Statement in accordance with Article 6(5), points (a), (b), (c), of Regulation (EU) 2023/1114	The crypto-asset referred to in this crypto-asset white paper may lose its value in part or in full, may not always be transferable and may not be liquid.
05	Statement in accordance with Article 6(5), point (d), of Regulation (EU) 2023/1114	FALSE
06	Statement in accordance with Article 6(5), points (e) and (f), of Regulation (EU) 2023/1114	The crypto-asset referred to in this white paper is not covered by the investor compensation schemes under Directive 97/9/EC of the European Parliament and of the Council or the deposit guarantee schemes under Directive 2014/49/EU of the European Parliament and of the Council.
07	Warning in accordance with Article 6(7), second subparagraph, of Regulation (EU) 2023/1114	Warning This summary should be read as an introduction to the crypto-asset white paper. The prospective holder should base any decision to purchase this crypto-asset on the content of the crypto-asset white paper as a whole and not on the summary alone. The offer to the public of this crypto-asset does not constitute an offer or solicitation to purchase financial instruments and any such offer or solicitation can be made only by means of a prospectus or other documents pursuant to the applicable national law. This crypto-asset white paper does not constitute a prospectus as referred to in Regulation (EU) 2017/1129 of the European Parliament and of the Council or any other offer document pursuant to Union or national law.
08	Characteristics of the crypto-asset	CELESTIA Token (TIA) is the native asset of the Celestia network. It is used to access and operate the network’s services. In particular, TIA is required to pay for the inclusion of data on the network, to participate in securing the network through staking, and to interact with certain governance processes. Holders of TIA have the ability to use the token to access network services, such as submitting data to the blockchain, and may also delegate or stake their tokens to support network security and receive protocol-defined rewards. Where governance mechanisms are implemented, token holders may be able to participate in decision-making processes relating to protocol upgrades or parameter changes. Holders do not acquire any ownership rights, equity interest, or claims against any legal entity by holding TIA. Their rights are limited to the functional use of the token within the network as defined by the protocol. The total supply at genesis was set at 1,000,000,000 TIA. The token follows an inflationary issuance model, whereby inflation is initially set at 8% in the first year and decreases by 10% annually until reaching a long-term inflation floor of 1.5% per annum. The token supports 6 decimal places, enabling divisibility for precise transactions. The smallest unit of the token is denominated as micro-TIA (uTIA), where, 1 uTIA = 1 TIA × 10⁻⁶
09		Not applicable
10	Key information about the offer to the public or admission to trading	The token has been admitted to trading to the trading platform operated by Bitstamp Europe S.A. on its own initiative.

N	Field	Content
A.1	Name	N/A
A.2	Legal form	N/A
A.3	Registered address	N/A
A.4	Head office	N/A
A.5	Registration date	N/A
A.6	Legal entity identifier	N/A
A.7	Another identifier required pursuant to applicable national law	N/A
A.8	Contact telephone number	N/A
A.9	E-mail address	N/A
A.10	Response time (Days)	N/A
A.11	Parent company	N/A
A.12	Members of the management body	N/A
A.13	Business activity	N/A
A.14	Parent company business activity	N/A
A.15	Newly established	N/A
A.16	Financial condition for the past three years	N/A
A.17	Financial condition since registration	N/A

Part D - Information about the crypto-asset project

Field

Content

D.1

Crypto-asset project name

Celestia

D.2

Crypto-asset name

Celestia

D.3

Abbreviation

TIA

D.4

Crypto-asset project description

Celestia provides a decentralised network designed to support the development and operation of scalable blockchain systems through a modular architecture. The project separates core blockchain functions, including consensus and data availability, from execution, allowing developers to build independent execution environments such as rollups or application-specific blockchains that rely on Celestia as a foundational layer.

The network enables users and developers to publish and make data available on-chain, ensuring that such data can be verified by network participants without requiring all participants to download the full dataset. This is achieved through mechanisms such as data availability sampling, which allows efficient verification of large volumes of data while maintaining decentralisation.

In addition to providing data availability, Celestia supports the deployment of modular blockchain ecosystems, where multiple independent chains or applications can operate in parallel while relying on a shared infrastructure. This enables developers to create customised execution environments without having to build or secure a base layer blockchain from scratch.

The project is intended to support a wide range of use cases, including rollups, decentralised applications, and other blockchain-based systems that require scalable and verifiable data publication. It facilitates interoperability between different execution layers by providing a common data availability and consensus layer.

The network operates through a distributed set of participants who are responsible for validating data availability and maintaining the integrity of the system. The associated crypto-asset, TIA, is used within the network to pay for data publication, participate in network security through staking, and interact with protocol-level mechanisms.

D.5

Details of all natural or legal persons involved in implementation of crypto-asset project

Name of person	Type of person	Business address	Domicile
Strange Loop Labs AG	Development team	Pradafant 11, 9490, LI-11	Liechtenstein
Nick White	Advisor	United States of America	United States of America
Morgan Beller	Advisor	San Francisco, California	United States of America
George Danezis	Advisor	London	United Kingdom of Great Britain and Northern Ireland

D.6

Utility Token Classification

FALSE

D.7

Key Features of Goods/Services for Utility Token Projects

N/A

D.8

Description of past milestones

Past milestones

Celestia originated from earlier research on blockchain scalability under the name LazyLedger, with the initial concept and research publicly introduced around 2019, focusing on separating execution from consensus and data availability.

A key milestone occurred in January 2021, when the project formally rebranded from LazyLedger to Celestia, marking its transition from a research initiative to a broader blockchain infrastructure project. Around this period, the project also published technical materials outlining its modular blockchain approach.

Celestia successfully completed a seed funding round raising USD 1.5 million, with participation from Interchain Foundation, Binance Labs, Maven 11 Capital, KR1, and other investors. This funding round supported the early-stage development of the project, including research and engineering efforts related to modular blockchain architecture, data availability sampling, and network design.

In 2021, Celestia published its whitepaper, which formalised the modular blockchain architecture and introduced data availability sampling as a core innovation.

Throughout 2022, the project progressed through multiple stages of testnet development, including publicly announced test networks that enabled developers and validators to experiment with the protocol and contribute to its development. During this period, Celestia also expanded its documentation, developer tools, and ecosystem outreach through blog publications.

In 2023, Celestia continued testnet iterations and ecosystem development, culminating in the launch of the Celestia mainnet in October 2023, which enabled live network operations, including data publication, validator participation, and staking.

Concurrently with the mainnet launch in October 2023, the project introduced and distributed the TIA token, including allocations to contributors, ecosystem participants, and eligible users, notably through an airdrop mechanism.

In September 2024, the Celestia Foundation announced that it had raised USD 100 million in funding, led by Bain Capital Crypto, with participation from Syncracy Capital, 1kx, Robot Ventures, Placeholder, and other investors.

Celestia deployed the Lemongrass protocol upgrade, its first consensus upgrade to Mainnet Beta, introducing changes at the consensus layer, including Interchain Accounts, Packet Forward Middleware, and improvements to upgrade coordination.

Celestia also introduced Shwap, a data availability solution designed to improve how data is distributed and retrieved across the network. Shwap enables more efficient data propagation and retrieval for rollups and other applications built on Celestia, contributing to the scalability and usability of the network.

In October 2024, Celestia announced the Ginger upgrade, which is intended to enhance network performance by improving finality and increasing data availability throughput, including a planned reduction in block times.

Celestia introduced Mamo-1 as a development initiative focused on advancing its data availability infrastructure in 2025. The Mamo-1 testnet is designed to support experimentation with improvements to data availability sampling and block propagation, with the objective of increasing network throughput and efficiency. This initiative forms part of Celestia’s ongoing efforts to enhance scalability and optimise performance for rollups and other applications building on the network.

Celestia introduced the Lotus upgrade as an initiative aimed at improving the efficiency and scalability of its data availability layer. Lotus focuses on optimising how data is encoded, distributed, and verified across the network, with the objective of supporting higher throughput and more efficient operation of rollups and other applications built on Celestia.

Celestia introduced Matcha as a protocol upgrade focused on improving the efficiency and performance of the network’s data availability layer in September 2025. The Matcha upgrade includes enhancements to data handling and propagation mechanisms, with the objective of increasing throughput and supporting a greater number of rollups and applications building on Celestia.

In 2026, Celestia introduced Fibre as an initiative aimed at significantly increasing the network’s data throughput, targeting up to 1 terabyte per second (1 TB/s) of blockspace. Fibre is designed to improve how data is propagated across the network, enabling faster and more efficient distribution of large volumes of data between nodes. This development supports Celestia’s objective of scaling data availability to accommodate a growing number of rollups and applications, while maintaining decentralisation.

Celestia also introduced private blockspace as an initiative aimed at enabling confidential on-chain financial applications within its modular blockchain architecture. This development focuses on providing environments where transaction data can remain private while still benefiting from the security and data availability guarantees of the Celestia network. It is intended to support use cases in financial services that require confidentiality, such as institutional or regulated applications, while maintaining interoperability with the broader ecosystem.

Celestia announced the Hibiscus (V7) upgrade, scheduled for deployment on mainnet in mid-March 2026, with prior rollout on test networks including Arabica and Mocha. As of the latest available information, the upgrade had been scheduled but no confirmed completion of the mainnet deployment has been publicly disclosed.

D.8

Description of future milestones

Future milestones

Celestia outlined its long-term strategic direction in “Celestia Vision 2.0: Every Market Onchain”, which presents an expanded vision for the role of modular blockchain infrastructure. The publication describes an objective of enabling a broad range of applications and markets to operate on-chain by leveraging scalable data availability and modular architecture. It emphasises the development of infrastructure capable of supporting large-scale adoption of rollups and decentralised systems, with the aim of facilitating more efficient, accessible, and interoperable digital markets.

D.9

Resource allocation

At genesis, Celestia has a fixed total supply of 1,000,000,000 TIA tokens, which are allocated across five principal categories to support network development, incentivise participation, and align long-term stakeholder interests. A total of 20.00% of the supply is allocated to the public, comprising 7.41% distributed through a genesis drop and incentivised testnet, and 12.59% reserved for future public initiatives. A further 26.79% is allocated to research, development, and ecosystem initiatives, primarily managed by the Celestia Foundation and core developers, to fund protocol maintenance, ongoing development, and support for developers, infrastructure providers, and node operators. Early backers are allocated 35.57% of the total supply, split between 19.67% for Series A and B investors and 15.90% for seed-stage investors, reflecting their role in financing early-stage development. The remaining 17.64% is allocated to initial core contributors, specifically members of Celestia Labs who were instrumental in the creation of the protocol.

The distribution of these tokens is subject to predefined unlock schedules designed to ensure a gradual release of supply and alignment of incentives over time. Tokens allocated to the public are fully unlocked at launch. For the R and D and ecosystem allocation, 25.00% is unlocked at launch, with the remaining 75.00% unlocking continuously between the first and fourth year. Tokens allocated to initial core contributors unlock with 33.33% released at the end of the first year, and the remaining 66.67% unlocking continuously between years one and three. Similarly, allocations to early backers both seed and Series A and B are subject to a one-year cliff, with 33.33% unlocking at year one and the remaining 66.67% unlocking continuously between years one and two.

All tokens, whether locked or unlocked, may be staked within the network; however, staking rewards are not subject to lock-up restrictions and become part of the circulating supply upon receipt. Circulating supply refers to tokens that are freely transferable without on-chain restrictions, whereas available supply includes both circulating tokens and tokens that have been unlocked but remain subject to governance or allocation decisions, such as those reserved for ecosystem development or future initiatives. Unlock events occur on an annual basis, with specific dates adjusted to account for leap years, resulting in scheduled unlocks taking place on 30 October of each relevant year.

D.10

Planned use of Collected funds or crypto-Assets

Celestia closed a USD 1.5 million seed funding round with participation from Interchain Foundation, Binance Labs, Maven 11 Capital, KR1, and other investors. The funds were intended to support the development of the Celestia network, including research and engineering work related to its modular blockchain architecture, as well as the broader development of the project.

General information	Page 3
Part A - Information about the offeror or the person seeking admission to trading	Page 4
Part B - Information about the issuer, if different from the offeror or person seeking admission to trading	Page 5
Part C - Information about the operator of the trading platform in cases where it draws up the crypto-asset white paper and information about other persons drawing the crypto-asset white paper pursuant to Article 6(1), second subparagraph, of Regulation (EU) 2023/1114	Page 6
Part D - Information about the crypto-asset project	Page 7
Part E - Information about the offer to the public of crypto-assets or their admission to trading	Page 8
Part F - Information about the crypto-assets	Page 9
Part G - Information on the rights and obligations attached to the crypto-assets	Page 10
Part H – Information on underlying technology	Page 11
Part I - Information on risks	Page 12
Part J - Information on the sustainability indicators in relation to adverse impact on the climate and other environment-related adverse impacts	Page 13

N	Field	Content
E.1	Public offering or admission to trading	ATTR
E.2	Reasons for public offer or admission to trading	By admitting the TIA asset to trading, holders of the token will gain transparent price discovery and improved liquidity. This enables the project’s community and ecosystem participants to more easily enter and exit positions, supporting a dynamic and efficient market.
E.3	Fundraising target	N/A
E.4	Minimum subscription goals	N/A
E.5	Maximum subscription goals	N/A
E.6	Oversubscription acceptance	N/A
E.7	Oversubscription allocation	N/A
E.8	Issue price	N/A
E.9	Official currency or any other crypto-assets determining the issue price	N/A
E.10	Subscription fee	N/A
E.11	Offer price determination method	N/A
E.12	Total number of offered/traded crypto-assets	909893536 The number of TIA crypto-assets in circulation may vary over time due to the protocol’s issuance of new tokens through staking rewards and validator participation within the Celestia network. The protocol defines an initial supply at genesis and subsequently introduces additional tokens through an inflationary issuance mechanism, which begins at 8% and decreases annually until reaching a long-term inflation floor of 1.5%. At the time of writing, the circulating supply is approximately 909,893,536.19 TIA.
E.13	Targeted holders	ALL
E.14	Holder restrictions	N/A
E.15	Reimbursement notice	N/A
E.16	Refund mechanism	N/A
E.17	Refund timeline	N/A
E.18	Offer phases	N/A
E.19	Early purchase discount	N/A
E.20	Time-limited offer	N/A
E.21	Subscription period beginning	N/A
E.22	Subscription period end	N/A
E.23	Safeguarding arrangements for offered funds/crypto-Assets	N/A
E.24	Payment methods for crypto-asset purchase	N/A
E.25	Value transfer methods for reimbursement	N/A
E.26	Right of withdrawal	N/A
E.27	Transfer of purchased crypto-assets	When a client purchases a token on the Bitstamp Europe S.A.'s trading platform, the crypto-asset will be credited to their Bitstamp account. If a client wants to hold the token in their own wallet, they will need to (i) provide an external blockchain wallet address, where the crypto-assets will be sent if a withdrawal is initiated and (ii) satisfy all other requirements applicable to a withdrawal in line with the Regulation (EU) 2023/1113 of the European Parliament and of the Council of 31 May 2023 on information accompanying transfers of funds and certain crypto-assets.
E.28	Transfer time schedule	N/A
E.29	Purchaser's technical requirements	When a client purchases a token on the Bitstamp Europe S.A.'s trading platform, the crypto-asset will be credited to their Bitstamp account and a client does not need to fulfill any other technical requirement to hold the crypto-assets on their Bitstamp account, apart from have either a computer or phone with an internet connection and appropriate software in order to interact with the Bitstamp services.
E.30	Crypto-asset service provider (CASP) name	N/A
E.31	CASP identifier	N/A
E.32	Placement form	N/A
E.33	Trading platforms name	Bitstamp Europe S.A.
E.34	Trading platforms Market identifier code (MIC)	BESA
E.35	Trading platforms access	Investors can access the trading platform through https://www.bitstamp.net or via the Bitstamp applications.
E.36	Involved costs	There are no costs involved in creating an account on the trading platform, however trading fees and other costs apply in accordance with the fee schedule available at https://www.bitstamp.net/fee-schedule.
E.37	Offer expenses	Not applicable
E.38	Conflicts of interest	There are no conflicts of interest arising at the moment of writing the white paper in relation to the offer or admission to trading. Bitstamp Group has a strict Code of Conduct and Trading Policy in place. They both mitigate the possibility of conflicts of interest. In accordance with the Code of Conduct all officers, directors, employees, agents, representatives, contractors and consultants (and other persons, regardless of job or position), are required to report any situation where there is the potential for conflict of interest between their interests and interests of Bitstamp. The Trading Policy that is in place within the Bitstamp Group prohibits all forms of market manipulation and has been designed to prevent insider trading.
E.39	Applicable law	Not applicable, as this point pertains to an "offer to the public", whereas this white paper relates to admission to trading.
E.40	Competent court	Not applicable, as this point pertains to an "offer to the public", whereas this white paper relates to admission to trading.

N	Field	Content
F.1	Crypto-asset type	Crypto-assets other than asset-referenced tokens or e-money tokens
F.2	Crypto-asset functionality	TIA is used to pay for data publication on the network, commonly referred to as “blobspace”. Users submit data to the Celestia network and pay fees in TIA for its inclusion, enabling the data to be made available and verifiable by network participants. This functionality supports the operation of rollups and other blockchain systems that rely on Celestia for data availability. The crypto-asset is also used to secure the network through staking mechanisms. Holders of TIA may stake their tokens or delegate them to validators, who are responsible for participating in consensus and validating data availability. In return, validators and delegators may receive protocol-defined rewards. This staking functionality contributes to the integrity and security of the network. TIA further enables participation in governance mechanisms, where implemented. Token holders may be able to take part in decision-making processes relating to protocol upgrades, parameter changes, and other network developments, in accordance with the rules defined by the protocol. Voting options include “yes”, “no”, “no_with_veto”, and “abstain”, and governance decisions are implemented according to the protocol rules and social consensus mechanisms. Governance decisions are determined based on quorum, threshold, and veto conditions defined in the protocol. A proposal is generally required to meet a minimum participation threshold (quorum) and obtain sufficient support relative to opposing votes. Certain parameters of the network may be modified through governance, while others remain fixed or are subject to broader social consensus rather than formal on-chain proposals.
F.3	Planned application of functionalities	The functionalities of the crypto-asset TIA are expected to continue to develop in line with the evolution of the Celestia protocol. Existing functionalities, including payment for data publication, staking, and participation in governance mechanisms, are already implemented at network launch. Future developments may include adjustments to fee mechanisms, staking parameters, and governance processes, which may affect how TIA is used within the network. Such changes are typically introduced through protocol upgrades and governance decisions and are first tested on test networks before being implemented on the main network. No specific fixed timeline for additional token-specific functionalities has been publicly disclosed.
F.4	Type of crypto-asset white paper	OTHR
F.5	The type of submission	NEWT
F.6	Crypto-asset characteristics	TIA is the native asset of the Celestia network. It is used to access and operate the network’s services. In particular, TIA is required to pay for the inclusion of data on the network, to participate in securing the network through staking, and to interact with certain governance processes. Holders do not acquire any ownership rights, equity interest, or claims against any legal entity by holding TIA. Their rights are limited to the functional use of the token within the network as defined by the protocol. The total supply at genesis was set at 1,000,000,000 TIA. The token follows an inflationary issuance model, whereby inflation is initially set at 8% in the first year and decreases by 10% annually until reaching a long-term inflation floor of 1.5% per annum. The token supports 6 decimal places, enabling divisibility for precise transactions. The smallest unit of the token is denominated as micro-TIA (uTIA), where, 1 uTIA = 1 TIA × 10⁻⁶
F.7	Commercial name or trading name	N/A as DTI is provided in F.13
F.8	Website of the issuer	https://celestia.org/
F.9	Starting date of offer to the public or admission to trading	2026-06-16
F.10	Publication date	2026-06-15
F.11	Any other services provided by the issuer	Strange Loop Labs AG does not currently provide any other services.
F.12	Language or languages of the crypto-asset white paper	English
F.13	Digital token identifier code used to uniquely identify the crypto-asset or each of the several crypto assets to which the white paper relates, where available	TQ1G4JDD1, 12NRRG38S, VTMS6V53Z
F.14	Functionally fungible group digital token identifier, where available	M7NN4STH9
F.15	Voluntary data flag	FALSE
F.16	Personal data flag	TRUE
F.17	LEI eligibility	TRUE
F.18	Home Member State	Luxembourg
F.19	Host Member States	Austria, Belgium, Bulgaria, Croatia, Cyprus, Czechia, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden

N	Field	Content
G.1	Purchaser rights and obligations	Not applicable as the TIA crypto-asset holders do not acquire any ownership, equity, profit participation, repayment, or redemption rights against any natural or legal person associated with the Celestia project. Holding TIA does not give rise to contractual claims or entitlements against any natural or legal person. At the time of this white paper, holders of TIA are granted only functional non-contractual rights within the Celestia network. These functionalities are further described in field F.2
G.2	Exercise of rights and obligations	Not applicable as the asset confers no ownership or financial claims and does not impose any legal obligations.
G.3	Conditions for modifications of rights and obligations	Not applicable as the asset confers no ownership or financial claims and does not impose any legal obligations.
G.4	Future public offers	There are no future public offerings planned at the moment of writing the white paper.
G.5	Issuer retained crypto-assets	0
G.6	Utility Token Classification	FALSE
G.7	Key features of goods/services of utility tokens	Not applicable
G.8	Utility tokens redemption	Not applicable
G.9	Non-trading request	TRUE
G.10	Crypto-assets purchase or sale modalities	N/A
G.11	Crypto-assets transfer restrictions	Not applicable
G.12	Supply adjustment protocols	FALSE
G.13	Supply adjustment mechanisms	Not applicable
G.14	Token value protection schemes	FALSE
G.15	Token value protection schemes description	Not applicable
G.16	Compensation schemes	FALSE
G.17	Compensation schemes description	Not applicable
G.18	Applicable law	There is no written legal agreement between the issuer and the crypto asset holder that sets out the laws that govern the legal relationship between those two parties. In the absence of such an agreement, the laws that govern that relationship will depend on the location of the issuer (to the extent that can be identified) and the given crypto asset holder and characteristic performance of the legal relationship, and any agreed intention of the issuer and crypto asset holder.
G.19	Competent court	There is no written legal agreement between the issuer and the crypto asset holder that sets out which jurisdiction's courts will have authority to deal with a dispute between the crypto asset holder and the issuer. In the absence of such an agreement, the laws that competent court will depend on the location of the issuer and the given token-holder and characteristic performance of the legal relationship, and any agreed intention of the issuer and crypto asset holder.

N	Field	Content
H.1	Distributed ledger technology	Not applicable as DTI is provided in F.13
H.2	Protocols and technical standards	Networking, transport and session Celestia separates consensus and data availability networking into distinct layers. Consensus nodes run the application software and core consensus software. Moreover, consensus-side networking uses the Tendermint peer-to-peer protocol. The data availability layer operates through a separate libp2p network, used by light nodes, bridge nodes, and full storage nodes. This separation allows the consensus layer to order and commit data while the data availability network supports share retrieval, sampling, and exchange independently. Bridge nodes connect the two layers by ingesting blocks from the consensus chain and making the underlying share data available to data availability nodes. Because the consensus chain commits to data availability only through block headers, bridge nodes are necessary for data availability nodes to retrieve and verify that data without every participant operating as a full consensus validator. Node interfaces expose remote procedure call methods for blob operations, data availability, data availability sampling, fraud-related functions, headers, peer-to-peer functions, shares, and state. Access to these methods is controlled through authentication tokens. Serialisation Celestia uses canonical serialisation for objects that are committed to or signed over. Canonical serialisation ensures that the same logical object always produces a single predictable byte sequence, which is necessary because hashes, signatures, and commitments are computed over bytes. A deterministic variant of protobuf is used for this purpose. The scheme is bijective and includes the length of dynamic structures. Transactions on Celestia are Cosmos SDK transactions. Available data comprises ordinary transactions, PayForBlob data, and blob data. PayForBlob data includes metadata linking a payment transaction to the shares of the corresponding blob. Blob data contains arbitrary user-submitted bytes. This structure allows Celestia to process the payment and state-update portion of a transaction while simultaneously committing to the data that must remain available for external systems. Cryptography and key formats Celestia uses ECDSA with Secp256k1 for accounts and Ed25519 for validators. Secp256k1 public keys can be compressed to 33 bytes. Cosmos account addresses are 20 bytes in length. Secp256k1 signatures are represented by two 32-byte values, r and s, encoded using protobuf. User-facing addresses use the Bech32 prefix celestia. Secp256k1 account addresses are derived from a compressed public key by applying SHA-256 followed by RIPEMD-160, yielding a 20-byte address. Ed25519 is used for validator consensus keys; Ed25519 public keys are 32 bytes and may appear in validator configuration in base64-encoded form. Validator consensus addresses are derived as the first 20 bytes of the SHA-256 hash of the raw public key. Ed25519 signatures are 64 bytes long. Protocol-level hashing uses SHA-2-256, which produces a 32-byte digest. Merkle trees authenticate transactions, blobs, validator-set data, and other protocol structures. Namespaced Merkle Trees extend standard Merkle commitments with namespace information, enabling compact inclusion and exclusion proofs for shares belonging to a specific namespace. Ledger Celestia organises its ledger around blocks, headers, commits, available data headers, and available data. A block header contains the chain identifier, height, timestamp, previous header hash, previous CometBFT commit hash, consensus parameter hash, application state root, available data root, and proposer address. Both full clients and light clients download the block header, which serves as the primary verification object for both the application state root and the commitment to available data. Available data is erasure-coded to support data availability checks. The structure contains ordinary transactions, PayForBlob data, and blob data. Ordinary transactions may modify validator-set data and token balances; PayForBlob data records payment for blob inclusion. Blob data contains arbitrary user-submitted bytes. The base chain state is limited to account balances and validator-set metadata, while the available data commitment supports external systems relying on published data. Execution Celestia's execution model centres on the application software, which is built using the Cosmos SDK and connected to the core consensus software through ABCI++. The core consensus software is a modified CometBFT implementation. The executable portion of a PayForBlobs transaction is processed by the state machine, while blob data is arranged into shares and committed through the available data structure. The state machine processes transactions for balance changes, validator-set updates, staking, governance, and blob inclusion payments. Rollup and application execution take place above Celestia; external systems use Celestia for data ordering and availability while maintaining their own execution environments. Token standards and denomination TIA is the native asset of the Celestia network. Its primary functions are payment for blobspace, staking, and governance. The display denomination is TIA and the base denomination used in network operations is utia. User-facing addresses use the Bech32 prefix celestia. TIA uses Celestia's native account and denomination model rather than a contract-based token standard. Native transfers, staking, and governance interactions occur through Celestia network transactions.
H.3	Technology used	Implementation and architecture Celestia's implementation separates consensus-chain functions from data availability functions. The application software runs consensus nodes, validators, and RPC endpoints, built with the Cosmos SDK and connected to the core consensus software through ABCI++. The core consensus software is a modified CometBFT implementation. Together, these components support the proof-of-stake chain that records account balances, validator metadata, and commitments to available data. The base chain maintains a restricted state containing account balances and validator-set metadata, held in a multistore and committed through the application state root in the block header. Data availability proofing Celestia uses a two-dimensional Reed-Solomon encoding scheme. Original block data is arranged into a square, extended with parity data along both rows and columns, and committed through row and column roots derived from Namespaced Merkle Trees. The available data root, computed from these row and column roots, is included in the block header. Light clients can perform data availability sampling by requesting random shares and verifying them against their Namespaced Merkle Tree commitments, making availability verification possible without requiring a full block download. The namespace structure additionally enables proof that shares belong or do not belong to a given namespace, supporting rollups and applications that only need to verify their own portion of block data. Runtime and build parameters The application software supports consensus-node operation, validator participation, and RPC endpoints. Mainnet Beta uses the chain ID celestia and has an initial validator set of 100. The maximum transaction size across all networks is 8 MiB. The maximum data square size for mainnet is 8 MiB. The maximum total blob size in a block is governed by the intersection of the transaction size limit, the data square structure, and PayForBlob overhead.
H.4	Consensus Mechanism	Celestia uses proof-of-stake consensus based on CometBFT and the Cosmos SDK. Validators participate in block production and consensus, while TIA holders may delegate to validators without operating validator infrastructure directly. Mainnet Beta has an initial validator set of 100. Validators execute the chain protocol and participate in block validation. The consensus mechanism secures the base chain and the commitments in its block headers, including the application state root and the available data root, linking proof-of-stake security directly to data availability commitments. Jailing and slashing are implemented through the Cosmos SDK slashing module. A validator that is offline for more than 25% of a rolling 5,000-block window is jailed for one minute and must submit an unjail transaction to resume participation. A validator that double-signs loses 2% of its staked TIA and is permanently removed from the active validator set. These penalties create economic and operational consequences for downtime and equivocation.
H.5	Incentive Mechanisms and Applicable Fees	Network-level fees Fees are denominated in TIA. Data publishers submit PayForBlobs transactions carrying a flat base fee and a variable component determined by blob size. PayForBlob gas comprises a static fixed cost and a dynamic cost proportional to the number of bytes in the blob. The total fee equals the gas limit multiplied by the gas price. The mempool applies gas-price prioritisation, with higher-fee transactions given preference by validators, creating a market-based ordering mechanism for data publication. Protocol-level fee parameters and governance Fee parameters may be adjusted through governance. The parameters governing gas cost per blob byte and transaction size cost per byte are both changeable through on-chain governance proposals, giving TIA holders a defined role in the relationship between blob size and fee cost. Governance may also adjust other network parameters and allocate funds from the community pool. Validator and delegator incentives Validators and delegators earn staking rewards from the network. Validators may charge commission on rewards distributed to their delegators. TIA inflation began at 8% per annum at genesis and was originally set to decrease by 10% per year. Following the v4 Lotus protocol upgrade in July 2025, the annual rate was adjusted to approximately 5.0%, with the annual decrease rate revised to 6.7%. Following the v6 protocol upgrade in November 2025, the rate was further adjusted to approximately 2.5%, continuing to decrease by 6.7% per year until reaching the long-term issuance floor of 1.5%. The community pool receives 2% of all block rewards, funded from each block to support governance-directed ecosystem initiatives. Slashing as a negative incentive Slashing imposes economic penalties for validator faults. Downtime above the stated threshold results in jailing, while double-signing results in a 2% slash of staked TIA and permanent removal from the active validator set, directly linking stake-at-risk to consensus reliability.
H.6	Use of distributed ledger technology	False
H.7	DLT functionality description	N/A
H.8	Audit	TRUE
H.9	Audit outcome	The audit outcomes below cover independently conducted security reviews of Celestia's Layer 1 protocol components. All three reviews were conducted by Informal Systems and are relevant to TIA as the native asset of the network whose components were assessed. Informal Systems: Celestia 2024 Q2 Security Audit — 1 July 2024 Object of the audit: The review covered Celestia's custom upgrade mechanism, the minimum fee check, differences in prepare-proposal and process-proposal logic, integration of the Interchain Accounts and Packet Forward Middleware modules, and removal of the Blobstream module. A structured threat-analysis approach was applied, with threats grouped around the upgrade system, minimum fee logic, and proposal preparation and processing. Results: Five findings were reported: two high severity, two low severity, and one informational. The high-severity findings concerned an unfair voting result caused by a non-unique version identifier, and a scenario in which the upgrade mechanism could be exploited to crash nodes. The low-severity findings concerned the combined use of version signalling for quorum counting and readiness, and delayed signals causing incorrect quorum counting. The informational finding concerned a proposed block potentially exceeding the size limit after additional fields were included. Actions: Both high-severity findings were resolved by the end of the audit. Resolutions included permitting validators to signal for a version more than one greater than the current version, persisting the quorum version in the multistore, and adding a delay before activating version changes. The remaining findings were acknowledged. Later design modifications and bug fixes were not incorporated into the audit report's referenced initial commit. Informal Systems: Authored Blobs Review: September 2024 Object of the audit: The review covered the authored blobs feature across the data-square and application components. Authored blobs add a signer field directly to the blob structure, supporting rollups that use a fork-choice rule with whitelisted sequencers by simplifying signer verification. The review covered blob representation, writing the signer into shares when the relevant share version is used, parsing the signer from shares, proposal preparation and processing, and validation of the PayForBlobs message signer against the blob signer. Results: The feature was characterised as having a limited attack surface. The implementation was found to behave as expected across all reviewed components, and no errors were identified. Actions: No findings requiring remediation were recorded. Confirmed behaviours included writing the signer into a share only when the share version supports it, reading the signer during share parsing, selecting the applicable square version by application version during proposal preparation and processing, and checking signer consistency where a blob signer is present. Informal Systems: Q2 2025 High Throughput Recovery Audit: 24 June 2025 Object of the audit: The audit covered the High Throughput Recovery algorithm in Celestia's core consensus software and the related application specification. High Throughput Recovery is a propagation reactor built on top of CometBFT to improve block propagation. The review covered data types and algorithm within the propagation reactor and its integration points with consensus code. Existing CometBFT logic, test code, mempool, end-to-end tests, and cryptographic components were outside scope. Methodology: The audit ran from 28 April 2025 to 30 May 2025, using manual code review and protocol analysis. The review modelled compact blocks, HaveParts, WantParts, and RecoveryPart messages, local mempool reconstruction, parity-based recovery, and pull-based retrieval. A threat model and a set of protocol invariants were used to evaluate the implementation. Results: Thirty-one findings were identified in total: three critical, three high, seven medium, twelve low, and six informational. The reviewed code was still in development at the time of the audit. Issues identified included the incomplete full-mesh overlay, missing compact-block signature verification, assumptions around request limits, and divergences between the ideal protocol and implemented bandwidth constraints. Actions: Remediation status varied by finding. Several issues were patched without re-audit; others were acknowledged or risk accepted. Recommendations included improving validation, updating cache-height handling, addressing silent send failures, strengthening request handling, aligning implementation with specification, and improving protocol documentation.

N	Field	Content
I.1	Offer-related risks	Market volatility and liquidity TIA is Celestia’s native asset and is used within the network for blobspace, staking and governance functions. Its secondary-market price and liquidity may fluctuate due to crypto-asset market conditions, venue depth and demand for Celestia network usage. Trading and access dependency Access to TIA through wallets, interfaces or third-party services can be affected by service restrictions, compliance controls or wallet-address restrictions. Users remain dependent on compatible wallets and service providers to access, hold or transfer TIA. Key custody and operational security TIA custody depends on control of the relevant wallet credentials. Loss or compromise of a self-custodial wallet can result in loss of access because the website operator states that it cannot help recover wallet keys. Large transactions and unlocks TIA supply and circulating availability can change through unlocks, staking rewards and allocations. Concentrated unlocks or large holder activity can affect market depth, execution quality and perceived supply conditions. Delisting Risks Bitstamp Europe S.A. might remove the token from trading in line with Bitstamp Markets Trading Rules
I.2	Issuer-related risks	Issuer and operator boundary Strange Loop Labs AG is identified as the operator of the website and documentation services, while the Celestia Protocol is described as outside those services. This separation can create uncertainty for users about which risks relate to the website operator, the protocol, validators, governance participants or independent infrastructure providers.
I.3	Crypto-assets-related risks	Utility and demand dependency TIA is used for blobspace fees, staking and governance, and rollups may use it as a gas token or currency. Demand for TIA depends in part on adoption of Celestia’s data availability services and participation in the network’s staking and governance functions. Inflation and supply mechanics TIA inflation began at 8% per annum at genesis and has been reduced through successive protocol upgrades. Following the v6 upgrade in November 2025, the annual inflation rate stands at approximately 2.5% and will continue to decrease by approximately 6.7 percentage points per year until reaching the long-term floor of 1.5%. Changes to the inflation schedule can influence circulating supply and holder dilution. Unlock and circulating-supply risk Locked or unlocked tokens may be staked, and staking rewards are unlocked upon receipt. Circulating supply excludes tokens with on-chain transfer restrictions, so market participants may face changing supply conditions as restrictions expire. Staking and delegation risk Delegators can earn staking rewards by delegating TIA to validators, but they are exposed to validator performance and conduct. If a validator is slashed, delegators bonded to that validator are also affected. Validator downtime and double-signing risk TIA holders who delegate to validators are exposed to the validator's conduct and operational performance. If a delegated validator is slashed for double-signing, delegators bonded to that validator lose a portion of their staked TIA in proportion to the slash applied. Slashing for double-signing also results in permanent removal of the validator from the active set, which may affect delegator rewards and require redelegation. Custody and key-management risk Self-custody exposes TIA holders to loss or compromise of private keys. The website operator states that it has no ability to help users access or recover a wallet if credentials are lost.
I.4	Project implementation-related risks	Mainnet Beta stability risk Celestia Mainnet Beta is the live production network and carries the Beta designation, indicating that the software is not yet considered fully production-hardened. Users, validators, and dependent applications may encounter occasional instability or reduced performance during this phase, which creates availability and reliability risk for production workloads. Upgrade coordination and release risk Network updates are coordinated with node operators and the community, and software releases require operators to track version changes. Failed, delayed or inconsistent upgrades can impair validator participation, user operations or application integration. Operational incident and regression risk Software defects in network releases can affect specific protocol functions, including reward-claim operations. Such regressions may affect staking-related operations for validators and delegators even where the wider network continues to operate, and may require software updates to resolve. Governance and proposal-process dependency Celestia Improvement Proposals provide a public process for protocol and ecosystem changes. The existence of a structured process does not remove the risk that governance timing, review quality or implementation complexity may delay changes. Service and protocol-control limitation The Celestia website operator states that the Celestia Protocol is not part of the website services and is not controlled by it. Users therefore cannot rely on the website operator to reverse protocol outcomes, guarantee protocol availability or remedy losses arising from protocol use. Governance concentration and parameter influence TIA holders can propose and vote on governance proposals, and governance can change a subset of network parameters. Voting power and validator influence may therefore affect the timing and content of network changes. Token allocation and treasury influence The genesis supply was split across public allocation, future initiatives, research and development, ecosystem, core contributors and backers. Concentrated allocations and the community pool can affect governance incentives, ecosystem funding and perceived alignment among stakeholders. Regulatory and access restrictions The website terms restrict access for prohibited persons and allow restrictions to change without prior notice. Regulatory or sanctions-related controls may therefore affect access to official services, interfaces or wallet-address interactions connected with the website.
I.5	Technology-related risks	Data availability sampling and retrievability risk Celestia’s design relies on data availability sampling by light nodes and data retrieval through bridge nodes. If sufficient data cannot be retrieved, applications relying on Celestia data availability may face degraded assurance or stalled operation. Malicious block producer and invalid-data risk The data availability design recognises that invalid extended data can make original data unrecoverable. Malicious or faulty data production can therefore create availability and correctness risks until invalid data is rejected. Namespace and proof-verification risk Celestia uses namespaced Merkle trees so applications can fetch and verify namespace-specific data. Errors in namespace handling, proof verification or integration by dependent applications can impair the completeness or interpretation of application-specific data. Consensus and validator-set risk Celestia uses proof-of-stake and began with an initial validator set of 100 validators. Validator collusion, downtime, software failure or network partitioning can affect transaction inclusion, block production and finality assumptions. Consensus-client dependency risk A Mocha testnet incident was linked to CometBFT timing behaviour and resulted in instability and a temporary halt. Celestia’s implementation inherits risk from consensus-client dependencies and from the operational process required to patch them. RPC and data-availability infrastructure dependency Production blob submission should not rely on free endpoints, and bridge nodes require access to full historical block data. Applications and operators relying on inadequate endpoints may face degraded access, syncing failures or incomplete data retrieval. Block and transaction-size constraint risk Mainnet Beta has a maximum transaction size of 8 MiB and a current maximum square size of 8 MiB, while total blob capacity is not described as a fixed static upper bound. Capacity limits and governance-controlled parameters can affect throughput and application performance. Client, node and release-management risk Celestia depends on celestia-app, celestia-core and celestia-node software, with versioned releases and public repositories. Bugs, version skew or incorrect release adoption can cause desynchronisation, degraded node operation or service disruption. Security vulnerability risk Official audit listings cover several components, including celestia-app, Blobstream and Shwap, and celestia-core has a security reporting page. Audits and disclosure channels reduce known-defect risk but do not eliminate undiscovered vulnerabilities.
I.6	Mitigation measures	Offer-Related Risks Key custody and operational security: Users connect third-party self-custodial wallets and that the operator cannot recover wallet access. This mitigates misperception of custody responsibility by clarifying that wallet security remains with the holder. Large transactions and unlocks: The TIA genesis allocation categories, inflation mechanics and unlock treatment availability improves supply transparency and allows holders to assess supply changes and unlock-related market effects. Crypto-Assets-Related Risks Inflation and supply mechanics: Celestia inflation schedule and later reductions through network upgrades gives holders an official basis for assessing inflation and dilution risk. Unlock and circulating-supply risk: Circulating supply excludes tokens with on-chain transfer restrictions and identifies the unlock timing framework. This supports monitoring of circulating-supply changes. Staking and delegation risk: Jailing and slashing create protocol-level penalties that deter validator downtime and equivocation. Downtime above a defined threshold results in temporary jailing. Double-signing results in a 2% slash of staked TIA and permanent removal from the active validator set. These mechanisms reduce the probability of sustained validator misbehaviour but do not eliminate the risk of delegator exposure to validator faults. Project Implementation-Related Risks Mainnet Beta stability risk: Celestia maintains publicly current availability, incidents and upgrade notices. This mitigates information asymmetry during outages, instability and maintenance events. Upgrade coordination and release risk: Network updates are coordinated with node operators and the community, and release notes document versioned software changes. These controls support operator preparedness and public tracking of implementation changes. Operational incident and regression risk: Software and operational issues, including feature-specific problems and their resolution status. This supports post-incident transparency and user awareness of affected functions. Governance concentration and parameter influence: TIA holders can propose and vote on governance proposals, and the Celestia Improvement Proposal repository provides a public process for proposed changes. This creates an auditable path for reviewing governance and protocol-change activity. Regulatory and access restrictions: The website terms identify prohibited-person restrictions and wallet-address restrictions. This provides an implemented compliance control for the official website services, although it does not evidence protocol-level address freezing. Technology-Related Risks Data availability sampling and retrievability risk: Celestia uses data availability sampling, where light nodes sample shares and obtain Merkle proofs from bridge nodes. This gives light nodes a high-probability availability guarantee without requiring full-block downloads. Malicious block producer and invalid-data risk: Fraud proofs allow rejection of blocks with invalid extended data. This provides a protocol-level mitigation against invalid erasure-coded data that could otherwise make original data unrecoverable. Namespace and proof-verification risk: Namespaced Merkle trees allow applications to fetch and verify data for their own namespace. This mitigates unnecessary data retrieval and supports application-specific completeness checks. Client, node and release-management risk: The official celestia-app, celestia-core and celestia-node repositories are public and provide code, issue tracking, pull requests and releases. Public repositories support external review, defect reporting and release tracking. Security vulnerability risk: Independent audits are listed for multiple Celestia components, and the celestia-core security page provides a vulnerability reporting route. These measures support independent assurance and responsible disclosure.

Index

General information

Part A - Information about the offeror or the person seeking admission to trading

Part B - Information about the issuer, if different from the offeror or person seeking admission to trading

Part C - Information about the operator of the trading platform in cases where it draws up the crypto-asset white paper and information about other persons drawing the crypto-asset white paper pursuant to Article 6(1), second subparagraph, of Regulation (EU) 2023/1114

Part D - Information about the crypto-asset project

Part E - Information about the offer to the public of crypto-assets or their admission to trading

Part F - Information about the crypto-assets

Part G - Information on the rights and obligations attached to the crypto-assets

Part H – Information on underlying technology

Part I - Information on risks

Part J - Information on the sustainability indicators in relation to adverse impact on the climate and other environment-related adverse impacts