Discover Namada, a Layer 1 blockchain with unique Cubic Proof of Stake (CPoS) system, designed to enhance privacy and security for cross-chain asset transfers. Learn about $NAM tokenomics, governance, and its role in safeguarding user privacy. Join OriginStake to redefine privacy norms in the blockchain ecosystem

What is Namada?

Namada is a Layer 1 blockchain that utilizes the Proof of Stake (PoS) consensus mechanism and implements independent privacy rights for assets between chains, known as Interchain Asset-agnostic Privacy. It is compatible with Cosmos’ IBC, enabling swift asset transfers between IBC-enabled blockchains and Ethereum at low costs.

Namada shares a similar structure with Anoma, a protocol focused on protecting privacy and addressing decentralized P2P payment challenges across multiple blockchains. The development of Namada aims to safeguard user privacy when transferring assets between blockchains through a user-friendly interface.

Learn more: What is Namada Network

How does Namada work?

Although Namada employs the widely adopted Tendermint (CometBFT) consensus algorithm, supplemented by the integration of ABCI++, its consensus mechanism exhibits uniqueness. This distinctiveness stems from the chain’s implementation of the innovative Cubic Proof of Stake (CPoS) system, which introduces several intriguing key features, including:

• Enhanced fee distribution mechanism enabling automatic compounding of staking rewards, eliminating the need for manual claiming and restaking.
• Capability for transaction fees to be paid for multiple assets.
• Heightened PoS security facilitated by Namada’s detection system that identifies accounts contributing to network faults or attacks.
• Implementation of Cubic Slashing for penalizing safety faults, wherein the amount slashed exponentially increases if multiple validators or a larger single validator commit faults simultaneously.
• Automated rewarding and slashing processes.

What is $NAM?

$NAM is a native token on Namada Network that plays a crucial role in securing the network, enabling shielded transactions, and funding public goods.

Overview

• Name: Namada
• Ticker: NAM
• MarketCap: N/A
• TotalSupply: 1,000,000,000

Allocations

Updating…

$NAM Use Cases

Namada’s tokenomics are intricately designed to align the interests of all stakeholders and cultivate positive feedback loops, ultimately amplifying the protocol’s value proposition.

Here is a brief overview of Namada’s tokenomics:

Governance

NAM tokens allow community members to propose, vote on, and implement changes in the Namada protocol.

Transaction Fees

NAM is used to pay fees for various transactions and shielded actions within the Namada ecosystem.

Security

NAM is used to stake to participate in validating blocks and earning rewards with the PoS consensus mechanism.

The more NAM is staked, the more secure the network becomes.

Privacy

NAM is used to perform shielded transactions, which creates a demand for the token and incentivizes privacy adoption.

Users can transfer assets from Ethereum, Cosmos, or other chains to Namada and shield them from prying eyes.

Public Goods

Namada funds public goods like development and education through a portion of block rewards and transaction fees allocated to a public goods fund (PGF). Distributed transparently, PGF also boosts network effects by redistributing NAM to new users.

Roadmap

Namada is presently engaged in its incentivized testnet, known as the Namada Shielded Expedition, with OriginStake proudly participating.

Namada also has three (3) development phases:

• Assets-agnostic privacy
• Privacy likes company
• Making privacy a win-win

Investors

Invested by the Swiss-based Anoma Fund, the organization has garnered a total of $57.8M in funding from 38 backers across three funding rounds. Noteworthy contributors include Polychain Capital, Maven11, Fifth Era, Electric Capital, and others.

Conclusion

Namada is engineered to ensure user privacy during cross-blockchain asset transfers, emphasizing a smooth and user-friendly process. Partner with OriginStake, a pioneering validator of this revolutionary blockchain! Let’s unite to redefine privacy norms and spearhead the journey toward a safer, more transparent digital environment.

About OriginStake

Originstake is your professional and trusted validator that assists you in your staking activities. We provide full support services, a reward management dashboard, rewards sharing, and much more!

With Originstake, staking is safe, profitable, and extremely cost-effective!