- Privacy-focused blockchain Namada developers are seeking to forge closer ties with the Osmosis protocol.
- Namada is planning to airdrop its planned NAM token to OSMO investors.
- Namada also seeks to roll out its method for protecting asset privacy on Osmosis.
Christopher Goes, Co-Founder of Namada, an L1 multi-chain privacy-focused blockchain, has proposed a partnership with Cosmos-based Osmosis.
The collaboration between Namada and Osmosis in this capacity is intended to enrich the respective ecosystems and bring a raft of benefits, particularly to holders of $OSMO tokens, stakers and LP’ers who would be eligible for an upcoming Namada airdrop. According to Goes, the L1 blockchain platform is interested in allocating continuous public goods funding to a grants pool managed by the Osmosis Grants Program.
Goes is hopeful that Osmosis will pitch the idea seeing that Namada would bankroll the effort.
Protecting asset privacy on Osmosis
Namada is also planning to roll out “shielded actions” to protect asset privacy on Osmosis. The “shielded actions” would hide assets on Namada when not being used in trades on Osmosis.
Explaining how the shielded actions work, Goes said:
“It would be pretty boring if you only had assets and couldn’t do anything with them. So we expect that people want to go to Osmosis and decentralized exchanges on other chains to trade their assets.”
Airdropping tokens to OSMO holders
Namada’s Swiss-based nonprofit the Anoma Foundation will also set aside some of Namada’s staking token NAM for airdrops to OSMO holders. However, this is expected to take place after Namada goes live.
Namada is yet to give exact timelines as it waits for feedback from the Osmosis community. Goes highlighted that he is waiting for the community’s input and permission to continue with the proposal, which will be subject to an OSMO governance vote.
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Privacy-focused blockchain, Namada, is set to launch an airdrop for holders of Osmosis’ OSMO tokens. The airdrop is an effort by Namada to further its project and push its decentralized vision of privacy and financial security.
The airdrop will provide holders of Osmosis’ OSMO tokens with free Namada tokens, allowing them access to the wide range of services provided on the Namada platform. This includes the Namada Decentralized Exchange (DEX), where users can trade their asset tokens for Namada, and the Namada Privacy Protocol (NPP), which provides users with strong anonymity and privacy when making transactions.
Namada wants to benefit from the force of the blockchain system to accelerate its adoption and reward those who help — that’s where the OSMO token holders come in. After the airdrop, users will earn 1 NAM for every 10 OSMO tokens they hold. Users will also receive a small amount of NAM tokens with every transaction they create, as an incentive to use the Namada DEX.
The Namada protocol utilizes zero-knowledge proofs to authenticate users, as well as zero-knowledge state channels to enable faster settlements. This is further supplemented by layer-2 scalability solutions, such as plasma chains, which enable near-instant transactions at greatly reduced costs. This combination of technology provides users with an incredibly secure and efficient platform on which to perform their transactions.
Namada is currently in the process of fundraising, and has already secured partnerships with firms such as Orthogonal Trading and Somnium Space. To show their commitment to the project, these partners have committed to investing a minimum of $1 million each.
Namada is helping to push the boundaries of financial security and privacy in the blockchain space, and this airdrop is a great way to spread the word and reward those who are helping the project.
