Privacy-focused layer 1 blockchain Namada has officially launched its mainnet and enabled the network’s genesis block. This kicks off the first phase of its decentralized mainnet rollout, which involves staking and governance. The Anoma Foundation, the group of organizations developing the project, proposed the initial mainnet software and genesis balance. The foundation clarified that it does not run validators, so the Namada community retains full control. The launch includes a user airdrop. Eligible wallets will receive NAM tokens today, which they can immediately use for staking and governance. Token transferability will be activated in Phase 5, which is expected to be completed in a few months.
The launch will be accompanied by the issuance of the native token, with a total supply of 1 billion NAM tokens. The Anoma Foundation proposed the initial genesis allocation, with no lock-up period, which will be distributed among community members, early contributors, and future development plans. The launch of the genesis mainnet will be divided into five phases, each driven by community decisions through on-chain governance. (TheBlock)