Mainnet deployment and token distribution announcement by blockchain project Cosmos-based Namada

The privacy-focused Layer 1 blockchain project, Namada, has officially launched its mainnet. Initiated by Tendermint, Namada offers a unique blend of customisable privacy parameters, interoperability, and robust consensus mechanisms.

At its core, Namada's total supply of NAM tokens is capped at a fixed amount of 1 billion. This fixed supply ensures a stable and predictable economy within the network. The unlocking of NAM token transfers is expected during the coming months, and the project plans to distribute native tokens as rewards for active community members.

Namada's unique consensus mechanism, Cubic Proof-of-Stake (CPoS), enforces a robust penalty system for validators within the network. This system helps maintain the network's security and integrity.

The project is led by the non-profit Anoma Foundation, which has raised $57.75 million in funding from backers like Polychain Capital, Electric Capital, and Coinbase Ventures. This funding will support Namada's development and growth.

One of Namada's key features is its support for Ethereum's Virtual Machine (EVM) via a trustless bridge. This allows Namada to be interoperable with the Ethereum ecosystem, enabling seamless interaction between the two networks. Furthermore, Namada leverages zero-knowledge proof technology to facilitate cryptocurrency transfers between the Cosmos and Ethereum ecosystems without exposing on-chain data.

Namada's public testnet debuted in December 2023, and the mainnet launch includes staking and on-chain governance capabilities. The initial phase introduces these core functionalities, with future phases expected to expand Namada's capabilities even further. Fees within the Namada network can be paid using multiple tokens, with the accepted assets determined by the developers of future applications.

Moreover, Namada is a self-governed multi-chain network, enabling developers and users to customise privacy parameters for compatible assets, decentralised applications, and even entire blockchains. This customisation allows for a more tailored user experience and increased privacy for users.

As Namada continues to grow and evolve, it promises to be a significant player in the blockchain landscape, offering a unique blend of privacy, interoperability, and robust consensus mechanisms.