Key Takeaways
- Namada, a privacy-focused L1 blockchain, has proposed collaborating with L1 Osmosis to enhance both ecosystems and benefit all parties.
- The collaboration seeks to show close ties between Namada and the Osmosis protocol.
- Namada is working on implementing its asset privacy protection method, known as “shielded actions,” on the Osmosis platform, allowing Namada’s assets to remain concealed when not actively traded on Osmosis.
Christopher Goes, Co-Founder of Namada, a privacy-focused L1 blockchain with multi-chain capabilities, has offered a collaboration with L1 Osmosis. This collaborative action desires to enhance both ecosystems and provide considerable benefits, particularly for holders of $OSMO tokens, stakers, and liquidity providers (LPs) who would qualify for an upcoming airdrop initiated by Namada.
According to Namada CEO Goes, the intention of the L1 blockchain platform is to allocate continuous public goods to a grant fund managed by the Osmosis Grant Program.
Airdropping the planned NAM tokens to OSMO investors is an effort to establish close ties with the Osmosis protocol.
Co-Founder Christopher Goes said the aforementioned grant program will support many privacy-focused research and development projects that will add value to both Cosmos-based Osmosis and Namada.
Namada is also actively working towards executing its asset privacy protection method on Osmosis. Referred to as “shielded actions,” this functionality would allow assets on Namada to remain concealed when not actively involved in trades on the Osmosis platform, as explained by Christopher Goes.
Additionally, Goes stated; “It would be pretty boring if you only had assets and couldn’t do anything with them,” and “So we expect that people want to go to Osmosis”
The Swiss non-profit Anoma Foundation, a subsidiary of Namada, is expected to reserve a portion of Namada’s staking token, NAM, for airdrops to OSMO holders. However, there is no development regarding distribution or snapshot yet. Presumably this distribution will happen after Namada goes live.
As the Osmosis community has yet to weigh in, the airdrop timeline or amounts are unclear. Christopher Goes stated that he’s seeking the community’s input and permission to proceed with the proposal, which will be subject to an OSMO governance.
About Namada
Namada is a sovereign proof-of-stake blockchain that utilizes Tendermint BFT consensus. It offers a range of features, including the ability to conduct private transfers for various native or non-native assets through a multi-asset shielded pool derived from the Sapling circuit. Namada also boasts comprehensive support for the IBC protocol, an integrated Ethereum bridge, a modern proof-of-stake system with automatic reward compounding and cubic slashing, a stake-weighted governance signaling mechanism, and a proactive/retroactive dual public goods funding system. Users who engage in shielded transfers are incentivized with native protocol tokens to reward their contributions to the privacy setting. A multi-asset shielded transfer wallet is provided to ensure secure and private user interactions with the protocol.
Conclusion
The requested partnership of Namada and Osmosis could be an example of future collaborations between blockchain projects, demonstrating a viable strategy for securing funding and fostering cooperation in a competitive market.
