Keeping An Eye On Namada

Here is why I’m keeping an eye on Namada; a new privacy app chain to launch soon.

Namada is a new Cosmos Zone with a unique “multi-asset shielded pool” (MASP). You can think of MASP as the next version of ZCash; instead of shielded transfers being only restricted to ZEC, it’s available for all deposited assets, including NFTs.

Namada will support IBC and will have a natively verified custom Ethereum bridge, operated by Namada validators. When combined with their well-thought rewards mechanism, I expect Namada to source decent liquidity through these bridges at launch.

The vision for Namada is to become the interchain privacy layer. Shielded Actions is one of the envisioned use cases here; users can interact with existing transparent dapps anonymously as visualized below.

Screen Shot 2023-05-29 at 19.42.54.png

Christopher Goes, co-founder of Namada/Anoma has recently published a proposal to Osmosis to pulse-check community reaction. Proposal involves (i) an airdrop to Osmo community, (ii) a shared public goods funding pool for both communities (iii) implementing shielded actions on Osmosis (as shown above).

The shared public goods funding pool is an interesting one. Funds will be used to support technical research and product development (e.g. the encrypted mempool Ferveo which would benefit both projects) in areas of common interest.

I’ll be on the watch for Osmosis community’s reaction. I’ll be particularly keeping an eye on Sunny’s panel at The Privacy In Cosmos event in Prag next week.

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