[PRESS RELEASE – Zug, Switzerland, December 3rd, 2024]
Namada, the shielded asset hub enabling shielded cross-chain transactions, has formally revealed its genesis block, marking the launch of its mainnet. Together with the graduation of staking and governance, this marks the beginning of the primary section of Namada’s 5 stage decentralized mainnet rollout. This marks an essential step ahead, providing complete information safety and selective disclosure throughout the multichain panorama.
Introducing Namada
Namada is designed to allow the safety of customers’ private information when utilizing on-chain belongings and interesting in cross-chain transactions. Its key innovation, the Multi-Asset Shielded Pool (MASP), can assist the shielding of person information associated to any asset, enabling shielded interactions throughout completely different blockchain networks. Namada allows selective disclosure, giving customers the power to share transaction information publicly and to particular events. Moreover, Namada is introducing a singular shielding rewards system for customers defending their private information.
“Namada’s mainnet is a significant accomplishment for the numerous contributors and neighborhood members who’ve labored onerous to take Namada from an early concept to an actual, operational protocol,” mentioned Christopher Goes, Namada cofounder. “Particular person management of knowledge and freedom of disclosure is important for a free society. We aren’t there but, however the Namada mainnet is a vital step in the fitting route.”
The launch is absolutely decentralized, with the Anoma Basis supporting the Namada ecosystem by proposing the mainnet candidate software program and genesis balances. Nonetheless, the Basis abstains from operating validators, guaranteeing that the Namada neighborhood retains full management over the platform’s launch and route.
“Namada is a vital lacking hyperlink for the crypto house. Actual adoption has been held again by the shortage of person management over delicate information,” mentioned Namada cofounder Adrian Brink. “The objective of Namada is to present each particular person and institutional customers, who could have been ready on the sidelines, the identical freedoms and protections they’ve off-chain.”
Key Options of Namada
Namada introduces a set of revolutionary options designed to guard person information whereas enabling seamless shielded cross-chain interactions:
- Shielding Rewards: Namada’s Multi-Asset Shielded Pool (MASP) helps the shielding of knowledge for numerous belongings inside a unified shielded set. Customers gather shielded set rewards for shielding their belongings and enhancing on-chain information safety for everybody.
- Shielded Actions: Customers can interact in cross-chain exercise, similar to DeFi, whereas holding their private information shielded. Consumer information is protected even when interacting with clear dApps and chains.
- On-Chain Governance: NAM token holders take part in governance by staking their tokens to vote on protocol upgrades and different choices. This mechanism ensures that the neighborhood has a direct position within the evolution of the community.
- Public Items Funding (PGF): A portion of the NAM inflation is devoted to funding public items, supporting initiatives that profit the broader Namada ecosystem and past.
- Cubic Proof-of-Stake (CPoS): Namada’s distinctive staking mechanism incentivizes community safety by adjusting staking rewards based mostly on the community’s present staking ratio. Validators and delegators are rewarded for securing the community, with penalties for protocol violations designed to discourage collusion and improve total safety.
Neighborhood-Pushed Genesis Course of
This course of will unfold in 5 levels, every pushed by neighborhood choices through on-chain governance. Discussions across the mainnet launch candidate software program, configurations, genesis block draft, and tokenomics have taken place throughout the Namada neighborhood discussion board, guaranteeing a clear, decentralized, and collective strategy to the launch.
The Anoma Basis proposed the preliminary set of genesis allocations, together with a complete provide of 1 billion NAM tokens with no lockups, distributed amongst neighborhood members, early contributors, and future growth initiatives. This decentralized strategy ensures that the community’s launch and ongoing governance stay within the arms of its customers.
Namada is poised to assist IBC-based belongings initially, however will be upgraded sooner or later to assist extra ecosystems, with the intention of turning into the information safety layer for your complete multichain ecosystem.
About Namada
Namada is the shielded asset hub rewarding customers to guard the multichain. By leveraging superior zero-knowledge cryptography, Namada allows selective disclosure of private information, providing unparalleled information safety throughout belongings, functions, and blockchain networks. It introduces shielded cross-chain interactions and shielding rewards for customers who shield their information and strengthen its shielded set.
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