Cosmos Layer 1 Invites Thrilled Testnet Users With 3% Token Supply Allocation!
Just one day after Arbitrum experienced an outage, zkSync Era became the next network to encounter technical problems and was unable to create new blocks.
Privacy-focused Layer 1 blockchain Namada is planning to introduce an incentivized testnet that will grant participants 3% of its entire supply as rewards.
Named the “Namada Shielded Expedition,” this testnet campaign is a multiplayer role-playing game that will be launched before the privacy protocol’s mainnet rollout in early 2024.
Namada’s testnet will allow participants (validators and users) to engage in a competitive game to evaluate the network’s consensus (CometBFT) algorithm and Sybil resistance. The objective is to empower participants to explore Namada’s functionalities, supporting asset-agnostic privacy, in anticipation of its mainnet launch.
Participants will take part in an “asteroid mining race,” where their rankings will be determined by the number of ROIDs (points) they gather. A total of 30 million NAM tokens (equivalent to 3% of the total supply of one billion) will be distributed among successful players. The Namada testnet begins on January 15 and will continue until the end of the month.
Fresh off a generous community airdrop, Namada announced a 65 million testnet incentive program, attracting researchers, developers, and stakers to refine its Cosmos Hub and Osmosis integrations.
What Is Namada?
Scheduled for a launch in the first quarter of 2024, Namada stands as a proof-of-stake Layer-1 blockchain protocol crafted by the Anoma Foundation. Nested within the Cosmos ecosystem, this network’s vision revolves around facilitating asset-agnostic multichain privacy, employing zero-knowledge proofs to transfer assets seamlessly between diverse blockchains.
Additionally, the network boasts a built-in Ethereum bridge, facilitating the movement of assets across networks. The Anoma Foundation secured a substantial $25 million funding in May 2023 to foster the development of its ecosystem, which prominently includes the advancement of Namada.”
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* We hope this information will help you in your investment process, but this is not investment advice. Every investment carries risk, especially in this industry, so DYOR before making a decision.
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