Home - DeFi News - Namada, Osmosis to Co-fuse Blockchain to Fund Public Goods

James Carter

May 26, 2023

Namada, Osmosis to Co-fuse Blockchain to Fund Public Goods

Namada, a blockchain company with an emphasis on privacy, is looking to form a partnership with Osmosis in order to fund software “public goods” and distribute its planned NAM coin free of charge to OSMO investors.

Christopher Goes, one of the co-founders of Namada, recently announced in a blog post that he had suggested cooperation with Cosmos-based Osmosis that would expand both of their respective ecosystems and bring benefits to OSMO token holders, stakers, and liquidity providers. The post was published on the Namada blog.

Namada Osmosis to Co-fuse Blockchain to Fund Public Goods

Namada, Osmosis to Co-fuse Blockchain

He also mentioned that the business intends to implement protected actions on the Osmosis protocol, which will result in the unification of privacy sets across both networks.

Through the usage of the shielded action feature, users are able to keep the details of their assets private while still having access to all of the essential apps that are available inside the Cosmos and Ethereum ecosystems.

This approach will provide improved levels of privacy, particularly for those who trade several cryptocurrencies over a number of different sites.

Additionally, Namada will provide continual financing for public goods to a grants pool that will be maintained by the Osmosis Grants Program. This pool of funds will be used to finance projects that will benefit both ecosystems.

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Namada is a blockchain that is aimed to unify privacy sets throughout the Interchain. It uses a proof-of-stake consensus mechanism and shielded transfers that are asset agnostic. Privacy is supported on the platform, but smart contracts and trading operations like Osmosis are not supported.

Namada to Airdrop NAM tokens to OSMO Holders

The Anoma Foundation is Namada’s charitable organization, and one of its goals is to distribute a portion of Namada’s staked NAM tokens to holders of OSMO in the form of an airdrop, in addition to allocating cash for areas of shared interest.

The snapshot has not yet been taken, and distribution may not occur until after Namada is made publicly available. Because the Osmosis community has not yet provided their feedback, the specific timing and quantities have not been determined at this time.

It is important to note that the partnership proposal will only move forward if it is approved by a vote of the OSMO governance.

Before committing to this idea or to exact quantities, we would like to hear the opinions of the Osmosis community! According to what is said in the blog post.

“In particular, the Anoma Foundation is looking for consent; we have no intention of contributing to the grants pool, carrying out an airdrop, pursuing shielded actions, or anything else along those lines,” the statement read.

What Namada will do?

Namada has stated that if the cooperation is successful, it will work with the Osmosis team and the community to produce a new version of the Osmosis front. This version will provide a user-friendly experience (UX) while doing Namada-shielded actions behind the scenes.

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Although the community has not yet provided a significant amount of feedback regarding the idea, a few early respondents have shown their support for the initiative.

For instance, Osmosis user Leonoor’s Cryptoman stated that he believes the community will accept the airdrop given that it originates from a legitimate project. Cryptoman said he believes the community will support the airdrop.

According to the user, “if you are looking for funding (what my gutfeeling tells me), the OGP is the place to go,” you should go there. “In my opinion, community pool fundings belong in the past because we currently pay another entity to carry out the work on our behalf.”