Namada Completes First Phase Of Mainnet Launch, Activating Proof-of-Stake Consensus Mechanism And Governance Framework
In Brief
Namada announced the completion of the first phase of its mainnet launch, introducing staking and governance capabilities for users.
Shielded asset hub Namada announced the successful completion of the first phase of its mainnet launch, introducing staking and governance capabilities for users.
Users can now stake NAM tokens through the Namadillo interface, which simplifies engagement with Namada’s functionalities. To stake, users need to connect their Keychain Extension, navigate to the staking section, browse the list of validators, diversify their stake across them, and sign the transaction to confirm their participation. Designed to accommodate both new and experienced users, the Namadillo interface aims to lower barriers to entry and foster broader participation in the ecosystem. The interface is fully community-hosted. Currently, available instances include TuDudes, SproutStake, 5elementnodes, Mellifera, and Hadesguard. Users can also stake through interfaces offered by platforms like OmniFlix Network and Cosmic Validator, providing flexibility and choice.
Staking rewards will be activated in Phase 2 of the mainnet rollout. Users who begin staking before this phase will be eligible for early rewards, ensuring they benefit from the program’s initial offerings. The launch timeline guarantees at least a week for users to complete their staking before Phase 2 begins.
Participants are encouraged to stay informed about governance proposals, as the activation of staking rewards and funding mechanisms will be determined by the community through these processes.
Namada Unveils Five-Phase Mainnet Rollout Plan
Namada, a shielded asset hub, incentivizes users for protecting the multichain. Through the use of advanced zero-knowledge cryptography, Namada enables selective disclosure of personal data, ensuring reliable data protection for assets, applications, and blockchain networks while maintaining user privacy.
The launch of Namada’s genesis block yesterday marked the commencement of Phase 1 in a proposed five-phase rollout plan. This initial phase activated Namada’s proof-of-stake consensus mechanism and governance framework. It enabled NAM token holders to view their genesis balances, operate validators or delegate stakes to existing validators, and participate in the platform’s on-chain governance system.
Based on the proposed roadmap, the upcoming Phase 2 is set to activate staking rewards and public goods funding (PGF) mechanisms. Subsequent phases include Phase 3, introducing asset shielding features; Phase 4, enabling shielding rewards; and Phase 5, where NAM tokens will become transferable.
Namada’s community-driven model emphasizes collaboration and adaptability, ensuring that its multi-phase implementation aligns with the collective vision of its users. Each phase aims to enhance functionality and usability, bringing Namada closer to its goal of providing a secure and privacy-focused multichain experience.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
