Namada, the shielded asset hub, has launched its mainnet, offering secure cross-chain transactions and enhanced data protection.
Introducing Namada
Namada is designed to protect users' personal data when using on-chain assets and engaging in cross-chain transactions. The key innovation, the Multi-Asset Shielded Pool (MASP), supports shielding of user data related to any asset, enabling shielded interactions across different blockchain networks. Users can engage in selective disclosure, publicly sharing transaction data or with specific parties. Additionally, Namada offers a unique shielding rewards system for users protecting their personal data.
Key Features of Namada
Namada introduces a suite of innovative features designed to protect user data while enabling seamless shielded cross-chain interactions:
* Shielding Rewards: The Multi-Asset Shielded Pool (MASP) supports shielding of data for various assets within a unified shielded set. Users collect shielded set rewards for shielding their assets and enhancing on-chain data protection for everyone. * Shielded Actions: Users can engage in cross-chain activity, such as DeFi, while keeping their personal data shielded. User data is protected even when interacting with transparent dApps and chains. * On-Chain Governance: NAM token holders participate in governance by staking their tokens to vote on protocol upgrades and other decisions. This mechanism ensures that the community has a direct role in the evolution of the network. * Public Goods Funding: Part of the NAM inflation is dedicated to funding public goods, supporting projects that benefit the broader Namada ecosystem. * Cubic Proof-of-Stake: Namada's unique staking mechanism incentivizes network security by adjusting staking rewards based on the network's current staking ratio.
Community-Driven Genesis Process
This process will unfold in five stages, each driven by community decisions via on-chain governance. Discussions around the mainnet release candidate software, genesis block draft, and tokenomics have taken place within the Namada community forum, ensuring a transparent, decentralized approach to the launch. The Anoma Foundation proposed the initial set of genesis allocations, including a total supply of 1 billion NAM tokens with no lockups, distributed among community members, early contributors, and future development initiatives.
Namada aims to become the data protection layer for the multichain ecosystem, supporting IBC-based assets initially and potentially expanding to more ecosystems, providing users control over their data.
