Privacy-focused Layer 1 plans token rewards for 'community builders' ahead of mainnet launch

Anoma Foundation, the organization behind the Layer 1 blockchain Namada, announced a 'community builders program' to reward the development of privacy-focused tools.

The foundation will reward early community developers for their contributions on the network. For this, it has allocated 10 million Namada (NAM) tokens from the total one billion supply, exclusively to reward early community contributors to Namada.

The allocation will be encoded into the genesis block of the Namada blockchain during its upcoming mainnet launch, expected by the end of the year, according to a statement.

The community builder incentives will have to be approved by Namada community voting from Nov. 20 to 26.

Namada’s privacy-focused Layer 1

Namada is a proof-of-stake Layer-1 blockchain protocol from Anoma Foundation. Part of the Cosmos ecosystem, the network aims to enable asset-agnostic multichain privacy and uses zero-knowledge proofs to allow users to transfer assets between different blockchains without revealing their identities or transaction amounts.

Namada also includes a native Ethereum bridge, facilitating easy asset movement between the two networks. Anoma Foundation secured $25 million in a May 2023 funding round to develop its ecosystem which includes Namada.