Namada said it is its Switzerland-based non-profit arm, the Namada Foundation that will be in charge of issuing out the NAM tokens that will be airdropped to OSMO holders.
Namada Blockchain, a privacy-centric protocol built on the Cosmos Network, is looking at solidifying its presence in the industry with a partnership pitch to Osmosis (OSMO). As reported by Coindesk, Namada co-founder Christopher Goes is exploring a jointly funded grants program to bankroll software “public goods”.
The proposal will also involve the airdropping of NAM tokens to current Osmosis holders, a move that will form an almost unbreakable bond between the two protocols. Namada is looking at pushing these partnerships before it will officially launch on the mainnet.
The proposal is best tagged as a mutually beneficial one for both Namada and Osmosis, and while it will help give Namada a ready-made community, OSMO holders will be gaining more financially in the long term when the airdrop is completed.
As Goes described, the proposed grants program will be funding a lot of research initiatives with a special focus on privacy-centric solutions and development projects. These potential projects will be beneficial to both the Namada and Osmosis protocols respectively. As its first show of legitimacy, the grants program, according to Goes, will be funded by Namada, however, the expectation is that Osmosis will also support in its own best ways.
The collaborations between the duo will also see the use of Namada’s Shielded Actions technology to protect tokens on Namada when they are not in active use on Osmosis.
“It would be pretty boring if you only had assets and couldn’t do anything with them,” explained Goes. “So we expect that people want to go to Osmosis and decentralized exchanges on other chains to trade their assets,” he added.
As part of the considerations for the proposed partnership, Namada said it is its Switzerland-based non-profit arm, the Namada Foundation that will be in charge of issuing out the NAM tokens that will be airdropped to OSMO holders.
Namada and Osmosis Linkup: Possible Timeline
The Namada push to partner with Osmosis is not one that will come without significant hiccups. One of these hiccups is the pre-approval from the Osmosis community as the request for partnership will still be placed under a robust governance vote.
That Osmosis Labs controls the affairs of the blockchain does not mean the leaders make all crucial decisions. Community input is very crucial, and despite the fact that the community has a lot to benefit from, there is no guarantee as to what the voting outcome will be.
Based on the apparent complications, there is no idea as to what the timeline for the collaboration will be. Going by its history, however, the chances of success with the Osmosis community are high, considering Namada inked a similar partnership with privacy layer-1 protocol Zcash back in April this year.
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
