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Namada Unveils Governance-Based Mainnet Roadmap

Published 04/03/2024, 10:42 AM
Updated 04/03/2024, 11:00 AM
Namada Unveils Governance-Based Mainnet Roadmap

Zug, Switzerland, April 3rd, 2024, Chainwire

Multi-chain data protection Layer1 Namada has released its proposed mainnet launch roadmap. The proposal involves launching the network over five phases, a process that will be driven in a decentralized way by the Namada community via Namada’s on-chain governance system. The multi-phase roadmap was announced by Namada co-founder Adrian Brink at AtomSeoul on April 1.

The first phase of the proposed launch process, “Block Party,” will introduce on-chain governance and enable proof of stake. Users will be able to access genesis balances of Namada’s native token, NAM, begin staking, and vote on governance proposals. Once sufficient governance participants have agreed to proceed to phase two, the next stage of Namada’s mainnet launch will commence.

Phase two, “Staking Party,” will introduce staking rewards for delegators and validators. Public goods funding will also be enabled to support the growth of the Namada ecosystem, as well as fund public goods projects outside the ecosystem. Governance participants will again be required to reach consensus in order for phase three to begin.

During phase three, “Shielding Party,” transfers and shielding of governance-enabled IBC assets will be enabled. Users can begin shielding tokens in Namada’s first-of-its-kind multi-asset shielded pool and familiarize themselves with the network’s data protection features. As before, a governance vote will determine when the next phase of the mainnet launch can begin.

Phase four, “Shielding Rewards Party,” introduces shielding rewards for governance-enabled assets, the industry’s first system designed to reward users for protecting their data. During this stage, users can begin collecting rewards for shielding assets and helping to strengthen Namada’s data protection guarantees.

Phase five, “NAM Party,” will enable NAM transfers. At this stage, all key network functionality will be live with the focus then turning to growing the unified shielded set.

Namada co-founder, Christopher Goes, stated: "We're excited to share our proposed phases for launching Namada mainnet with the community. We'd like to thank everyone who has been participating in the Shielded Expedition incentivized testnet and stress-testing the protocol - your support is invaluable - and we hope to move forward together with the next steps along the road to bring data protection to the multichain landscape."

As an independent layer-1, Namada serves a diverse range of blockchain networks, beginning with the Cosmos and Ethereum ecosystems. As the Namada ecosystem expands, its multi-asset shielding features will bring industry-leading data protection guarantees to any network and asset. This will not only support the creation of dapps that protect users’ personally identifiable information, but will also retrofit data protection to existing transparent blockchains and dapps.

Namada is currently in its public testnet phase, during which validators are stress-testing the network. Once this is complete, a genesis block proposal will be published and discussed by the community before moving into the launch process. All key decisions are up to the Namada community and will be driven via the governance system built into Namada.

About Namada

Namada is the shielded asset hub rewarding users to protect the multichain. Enabling full control over the sharing of personal data in on-chain activities, Namada uses advanced ZK cryptography to deliver unparalleled data protection to existing assets, applications, and blockchain networks. Namada introduces shielded cross-chain interactions and passive rewards for holding assets in and strengthening its shielded set.

Learn more: https://namada.net/

ContactZach Cavanaughpr@anoma.foundation

This article was originally published on Chainwire

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