The privacy-focused Layer 1 blockchain project Namada has officially launched its mainnet and revealed plans for a native token airdrop to reward active community members.

One shield to protect them all. One shield to guard the multichain.

NAMADA IS LIVE. SHIELDS UP! pic.twitter.com/uu22jk9vb3
— Namada (@namada) December 3, 2024

The initial phase of the launch introduces staking and on-chain governance capabilities.

Namada is a self-governed multi-chain network designed with privacy at its core. Leveraging zero-knowledge proof technology, the blockchain facilitates cryptocurrency transfers between the Cosmos and Ethereum ecosystems without exposing on-chain data.

The protocol enables developers and users to customize privacy parameters for compatible assets, decentralized applications, and even entire blockchains, all without modifying existing code.

The blockchain employs a unique consensus mechanism called Cubic Proof-of-Stake (CPoS), which enforces a robust penalty system for validators. Fees within the network can be paid using multiple tokens, with the list of accepted assets determined by the developers of future applications.

The project is spearheaded by the non-profit Anoma Foundation, which has raised $57.75 million in funding from notable backers such as Polychain Capital, Electric Capital, and Coinbase Ventures.

Namada is interoperable with the Inter-Blockchain Communication (IBC) protocol and supports Ethereum’s Virtual Machine (EVM) via a trustless bridge.

The mainnet launch also includes an airdrop of NAM tokens to active community participants. Token transfers will be unlocked during the project’s fifth development phase, expected in the coming months.

The total supply of NAM tokens is capped at 1 billion.

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Namada’s public testnet debuted in December 2023.