Privacy-focused blockchain Namada plans airdrop to Osmosis’ OSMO holders
Privacy-focused blockchain Namada developers are seeking to forge closer ties with the Osmosis protocol.
Namada is planning to airdrop its planned NAM token to OSMO investors.
Namada also seeks to roll out its method for protecting asset privacy on Osmosis.
Christopher Goes, Co-Founder of Namada, an L1 multi-chain privacy-focused blockchain, has proposed a partnership with Cosmos-based Osmosis.
The collaboration between Namada and Osmosis in this capacity is intended to enrich the respective ecosystems and bring a raft of benefits, particularly to holders of $OSMO tokens, stakers and LP’ers who would be eligible for an upcoming Namada airdrop. According to Goes, the L1 blockchain platform is interested in allocating continuous public goods funding to a grants pool managed by the Osmosis Grants Program.
Goes is hopeful that Osmosis will pitch the idea seeing that Namada would bankroll the effort.
Protecting asset privacy on Osmosis
Namada is also planning to roll out “shielded actions” to protect asset privacy on Osmosis. The “shielded actions” would hide assets on Namada when not being used in trades on Osmosis.
Explaining how the shielded actions work, Goes said:
“It would be pretty boring if you only had assets and couldn’t do anything with them. So we expect that people want to go to Osmosis and decentralized exchanges on other chains to trade their assets.”
Airdropping tokens to OSMO holders
Namada’s Swiss-based nonprofit the Anoma Foundation will also set aside some of Namada’s staking token NAM for airdrops to OSMO holders. However, this is expected to take place after Namada goes live.
Namada is yet to give exact timelines as it waits for feedback from the Osmosis community. Goes highlighted that he is waiting for the community’s input and permission to continue with the proposal, which will be subject to an OSMO governance vote.