- The privacy-focused Layer 1 blockchain Namada has officially launched its mainnet.
- The launch initiates the first phase of the mainnet rollout and includes the network’s genesis blocks.
Privacy-oriented Blockchain at Layer 1 The genesis blocks of the network are now operational as Namada has formally launched its mainnet.
This marks the start of the staking and governance-related first phase of its decentralized mainnet launch.
The original mainnet software and genesis balances were suggested by the Anoma Foundation, the entity that created the project. The foundation made it clear that the Namada community maintains control because it does not employ validators.
Namada is part of the $25 million in funding that the Anoma Foundation obtained in May 2023 to build its ecosystem.
The main characteristic of Namada is its “multi-asset shielded pool,” which allows users to hide the specifics of their asset holdings within the liquidity pool of a decentralized exchange. This functionality enables users to selectively reveal transaction information and permits private transactions across many blockchain networks.
There will also be a communal airdrop during the launch. NAM tokens will be sent to eligible wallets today, and they can be used right now for governance and staking.
The total number of NAM tokens available for the native token is one billion. The first set of lockup-free genesis allocations was proposed by the Anoma Foundation and will be divided among community members, early contributors, and upcoming development projects.
Community decisions made through on-chain governance will decide the five stages of this Genesis mainnet launch. Phase 5 will activate token transferability, which should happen in a few months.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
