Privacy-focused blockchain Namada proposes Airdrop and partners with Osmosis

Privacy-focused blockchain Namada proposes Airdrop and partners with Osmosis

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Namada, the blockchain platform that prioritizes privacy, aims to strengthen its relationship with the Osmose protocol. To achieve this, they plan to collaborate on funding software “public goods” and distribute their upcoming NAM token to OSMO investors through an airdrop.

Christopher Goes, the co-founder of Namada, expressed that their grant program will focus on supporting various research and development initiatives centered around privacy within the cosmos-based Osmose and Namada ecosystems, with Namada being a yet-to-be-launched project.

While Namada is prepared to fund the work, Christopher Goes expressed his optimism that Osmosis would also contribute to the initiative. In addition, Namada aims to implement its approach to safeguarding the privacy of assets on the Osmosis platform. Goes referred to these measures as “shielded actions”, which would effectively hide assets on Namada when they are not actively involved in trades on Osmose.

Offers a flexible experience to users

In his explanation, Christopher Goes emphasized the importance of having possessions that serve a purpose beyond mere possession. The Namada team expects that individuals will be interested in using Osmosis and decentralized exchanges on various chains to actively trade their assets, as this provides excitement and utility.

To facilitate this, Namada’s non-profit organization, Anoma Foundation, based in Switzerland, plans to allocate a portion of Namada’s stake token NAM for airdrops to OSMO holders. It is worth noting that the snapshot has not yet taken place and the deployment is expected to happen after the launch of Namada.

The exact timelines and quantities are still subject to change, primarily due to pending input from the Osmose community. Christopher Goes mentioned that he appreciates the community’s feedback and is seeking their consent to proceed with the proposal, which will be subject to an OSMO board vote. It is worth noting that Namada previously presented a comparable partnership proposal to Zcash in April, which also involved an airdrop.

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Realization of a multi-chain vision

Namada operates as an L1 blockchain based on the proof-of-stake consensus mechanism, which enables the privacy of interchain assets without favoring any specific asset. Through the Inter-Blockchain Communication (IBC) protocol, Namada seamlessly interoperates with fast finite chains while establishing a trustless two-way bridge with Ethereum.

To ensure privacy, Namada uses an improved version of the MASP circuit (multi-asset shielded pool). This upgraded circuit enables all types of assets, both fungible and non-fungible, to share a unified shielded set. Consequently, the act of transferring assets becomes indistinguishable from transferring popular tokens such as ETH, DAI, ATOM, OSMO, NAM (Namada’s original asset), or other assets found on the Namada platform.

The recent update to the MASP circuit introduces a ground-breaking feature called “protected set rewards”, which serves as a unique mechanism to support privacy as a public good. The Namada protocol reference implementation is developed in Rust by Heliax, one of the prominent organizations involved in the Anoma ecosystem. Namada represents the first implementation of Anoma’s fractal instance and serves as a crucial milestone towards realizing a multi-chain vision characterized by a homogeneous architecture and heterogeneous security.

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