Privacy blockchain startup Namada proposes airdrop in a partnership with Osmosis ahead of its mainet launch
Namada, builders of an L1 blockchain multi-chain privacy, is looking to partner with Osmosis as it prepares for the launch of its mainnet. As part of the partnership, Namada aims to reach a range of technology and token deals, including collaborative funding for software “public goods” and airdropping of its planned NAM token to investors of Osmosis.
The collaboration between Namada and Osmosis aims to enhance their ecosystems and offer a range of benefits, especially to holders of $OSMO tokens, stakers, and liquidity providers (LPs) who would qualify for an upcoming Namada airdrop.
The announcement comes just a month after Namada proposed a similar partnership with Zcash that also included an airdrop.
Osmosis is a decentralized automated market maker (AMM) built on the Cosmos network. It leverages the Inter-Blockchain Communication (IBC) protocol to facilitate cross-chain transactions, enhancing its overall interoperability and composability capabilities.
According to Christopher Goes, co-founder of Namada, the proposed grants program aims to provide support for a variety of privacy-focused research and development initiatives that would benefit both Osmosis and Namada, the latter of which is yet to be launched.
Goes added that Namada is interested in providing ongoing funding for public goods through a grants pool managed by the Osmosis Grants Program. While Namada will be funding the endeavor, Goes told CoinDesk that he’s optimistic that Osmosis will also contribute to the program.
Goes also explained that Namada is working towards implementing its asset privacy protection method on Osmosis. Referred to as “shielded actions,” this functionality would allow assets on Namada to remain hidden when they are not actively being used for trades on the Osmosis platform, he added.
“It would be pretty boring if you only had assets and couldn’t do anything with them,” Goes explained. “So we expect that people want to go to Osmosis” and decentralized exchanges on other chains to trade their assets, he added.
Namada is the first instance of Anoma, a Swiss-based nonprofit Foundation. The instance serves as the first step towards realizing the foundation’s vision of a multi-chain ecosystem with a harmonious architecture and diverse security measures.
Anoma also plans to allocate a portion of Namada’s staking token NAM for airdrops to OSMO token holders. The specific timeline and allocation amounts have not been finalized as the Osmosis community has yet to provide their input.
Goes expressed the importance of seeking the community’s feedback and obtaining their approval through an OSMO governance vote before proceeding with the proposal. The distribution of airdrops is anticipated to occur after Namada’s mainnet launch.