I have to imagine the IC convo went something like
"Guys if we just get Polychain out the token will stop going down
If a boat is taking on water you have to plug the hole"
The Celestia Foundation has worked with Polychain Capital to assign Polychain’s entire remaining TIA holdings to new investors.
This month, the Foundation purchased 43,451,616.09 TIA from Polychain Capital for $62.5m. Polychain will shortly be undelegating their entire staked TIA holdings in order to settle this transaction.
To ensure neutral impact to the Foundation’s financial position, the Foundation is finalizing assignment of this TIA to new investors. These transactions will use a rolling unlock schedule, with the first unlock starting on 16 August and completing on 14 November.
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