Namada Rewards Its Community with 3% $NAM Token Supply to Incentivize Testnet Users

Namada is a Layer-1 blockchain solution that redefines asset-agnostic, multichain privacy. Namada delivers an unparalleled layer of privacy across a myriad of assets, decentralized applications, and even entire blockchain networks. Its cutting-edge approach offers users the ability to seamlessly retrofit privacy onto existing digital assets and dApps, without requiring any changes to the underlying blockchains, assets, or networks.

Namada is built on the Cosmos ecosystem and leverages the IBC protocol to enable cross-chain interactions with privacy. It uses its Unified Shielded Set and Shielded Actions to achieve this functionality, ensuring account privacy and data protection. Namada’s codebase is open-source and has been developed by Heliax, a blockchain and research firm that also contributes to Anoma. Namada has undergone extensive public testnets with over 200 validators and conducted the largest trusted setup ceremony at its time with 2,510 participants.

In preparation for Namada mainnet launch 

At the Cosmoverse 2023 Conference in Istanbul on October 2, Namada revealed its upcoming programs, which are designed to test the protocol’s capabilities and expand the community base. The programs include:

• A 65 million NAM token airdrop for researchers, developers, ATOM and OSMO stakers, Bad Kids NFT holders, and contributors in the Trusted Setup. The airdrop is part of Namada’s Retroactive Public Goods Funding initiative, which aims to acknowledge and thank the communities that have built and funded public goods on Namada. The airdrop will run until December 28, 2023, and eligible participants can submit their Namada genesis accounts through rpgfdrop.namada.net.
• An incentivized testnet campaign, which will run from January 15 until January 31, 2024. Namada has allocated 30 million NAM tokens, equivalent to 3% of the supply, to reward the testnet participants..

The testnet campaign , called the “Namada Shielded Expedition”, is a multiplayer role-playing game. The testnet will allow participants (both validators and users) to test the network’s consensus (CometBFT) algorithm and Sybil resistance, as well as to experience Namada’s features that enable privacy for any asset. The testnet campaign is designed as an “asteroid mining race”, where participants will earn ROIDs based on their performance.

These programs are also part of Namada’s preparation for its mainnet launch, which is expected to happen in the near future. Namada’s announcements at the Cosmoverse Conference showcase its vision and ambition for bringing privacy across the Cosmos. Namada also launched a revamped website, which provides more information on the Namada protocol, its features, its roadmap, and its community.

Namada is not new to rewarding its community with airdrops. In October 2023, Namada unveiled an ATOM airdrop for ATOM holders, which introduced them to Namada’s privacy features.

Wrapping up

Namada is a protocol that offers a unique value proposition for the Cosmos ecosystem and beyond. Namada empowers users to choose when to reveal or conceal their identity and transactions by enabling privacy across multiple chains. Namada is a pioneer in modular privacy, which allows users to add privacy layers to existing assets, applications, and networks. It is also a supporter of public goods, which are essential for the development and sustainability of the blockchain space.