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Namada Unveils Governance-Based Mainnet Roadmap By Chainwire

Namada Unveils Governance-Based Mainnet Roadmap

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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.”

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