Namada, a privacy-focused layer 1 blockchain, has introduced an incentivized testnet that rewards participants with 3% of the total supply.
This testnet campaign, called “Namada Shielded Expedition,” is a multiplayer role-playing game that will be released ahead of the privacy protocol’s mainnet launch in early 2024.
Namada’s testnet allows participants (validators and users) to test the network against consensus (CometBFT) algorithm and Sybil resistance by participating in competitive games. The goal is to enable participants to leverage Namada’s capabilities to support asset-agnostic privacy ahead of mainnet launch.
Participants will participate in an “Asteroid Mining Race” where testnet participants will be ranked based on the number of ROID (points) they have accumulated. A total of 30 million NAM tokens (3% of the total supply of 1 billion) will be distributed to those who successfully play the game. The Namada testnet launched on January 15 and will run until the end of the month.
Testnet incentives were released a week after Namada. revealed A community airdrop allocating 65 million (6.5% of total supply) to researchers, developers, and stakers on the Cosmos Hub and Osmosis blockchains.
What is Narmada?
Namada is a proof-of-stake layer 1 blockchain protocol developed by the Anoma Foundation and scheduled to launch in Q1 2024. Part of the Cosmos ecosystem, this network aims to implement asset-agnostic multi-chain privacy using zero-chain. Proof of knowledge for transferring assets to various blockchains.
The network also has a native Ethereum bridge for moving assets between networks. In May 2023, the Anoma Foundation secured $25 million in funding to develop the ecosystem, including Namada.
Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.
© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.