Mainnet Debut of Cosmos-linked Namada Accompanied by Token Distribution Announcement

Namada Mainnet Launch Brings Privacy-Focused Layer 1 Blockchain to Life

In a significant development for the blockchain industry, the privacy-focused Layer 1 blockchain project Namada has launched its mainnet. The project, led by the non-profit Anoma Foundation, has been designed with privacy at its core and is self-governed, operating as a multi-chain network.

The mainnet launch of Namada marks the beginning of a new era for the project, introducing staking and on-chain governance capabilities. The launch also includes an airdrop of NAM tokens to active community participants.

One of the key features of Namada is its unique consensus mechanism, Cubic Proof-of-Stake (CPoS), which enforces a robust penalty system for validators. This mechanism, combined with the project's interoperability with the Inter-Blockchain Communication (IBC) protocol, allows Namada to facilitate cryptocurrency transfers between the Cosmos and Ethereum ecosystems without exposing on-chain data.

Namada also supports Ethereum's Virtual Machine (EVM) via a trustless bridge, further enhancing its interoperability. Fees within the Namada network can be paid using multiple tokens, providing flexibility for users.

The total supply of NAM tokens is fixed at 1 billion tokens, with the unlocking of NAM token transfers scheduled for the fifth development phase, expected in the coming months. This cap ensures a controlled supply of NAM tokens in the market.

The project has managed to secure significant funding from prominent institutions before the mainnet launch. The Anoma Foundation has raised $57.75 million from backers like Polychain Capital, Electric Capital, Coinbase Ventures, Multicoin Capital, and various angel investors.

Namada leverages zero-knowledge proof technology, allowing developers and users to customize privacy parameters. The list of accepted assets for fees is determined by the developers of future applications, providing a flexible and adaptable system.

The public testnet of Namada debuted in December 2023, providing a platform for developers to test and refine their applications before the mainnet launch. This testnet phase was a crucial step in the development of the project, ensuring a smooth transition to the mainnet.

In conclusion, the launch of Namada's mainnet marks a significant milestone in the privacy-focused blockchain space. With its unique consensus mechanism, interoperability, and privacy-focused design, Namada is well-positioned to make a lasting impact in the blockchain industry.

Mainnet Debut of Cosmos-linked Namada Accompanied by Token Distribution Announcement