The Namada protocol offers shielded assets that you can use to protect your multichain interactions. The airdrop of this platform is live till December 28, 2024, when you will be able to claim the NAM tokens. During this airdrop session, you can access NAM tokens from a pool of 65,000,000 NAM tokens.
A variety of users, such as cash, ZK protocols, interchain applications, and various other contributors, Cosmos and Osmosis stakers, BadKids NFT holders, various Gitcoin Donors, and Namada Trusted Setup participants, can take part in this airdrop session and win NAM tokens.
The details about participating in the Namada airdrop and other relevant ideas are given in this article.
More About The Namada Protocol
Before you proceed to claim the Namada airdrop event, it is important that you know the details about the Namada protocol. Namada protocol is a layer 1 blockchain that uses the proof-of-stake consensus mechanism to enable data protection across multiple chains.
The multi-asset shielded pool (MASP) circuit used by the Namada protocol allows the shielding for both fungible and ono-fungible assets with the same amount of dexterity and care.
Features Of The Namada Protocol
The features of the Namada protocol that the users can leverage are explained below.
- Asset-agnostic shielded transfers: The Namada protocol employs zk-SNARKs to transfer any fungible or non-fungible assets as well as both native and non-native tokens.
- Shared shielded set: All assets on the Namada protocol can share the same shielded set. This ensures unfragmented data protection of individual assets without correlating them to the transaction volume of any particular asset.
- Fast ZKP generation on edge devices: This enables users to transfer shielded data through browser applications.
- IBC compatible: The assets on the Namada protocol are Inter-Blockchain Compatible and enable fast finality on different chains.
- Data protection as a public good: The shielded assets on the Namada protocol are used as a public good. The more users the protocol has, the better would be the protection for each individual user.
Benefits Of Using The Namada Protocol
The Namada protocol usage gives you many benefits as a user.
- Unified Shielded Set: On the Namada protocol, you can access shielded assets that were otherwise distributed on different networks. You can hold and transact a number of fungible and non-fungible assets.
- Earn Rewards: On the Namada protocol, you are awarded rewards for shielding your assets. Shielding activities of the users helps strengthen the Namada protocol’s basic data protection features.
- Shielded Actions for Cross-chain DeFI: On the Namafda protocol, you can engage with cross-chain decentralized finance while covering up your personal identification details. The safety of your data is ensured by the Namada protocol, irrespective of the transparency of the blockchains you interact with.
- IBC Interoperability: With the interoperability powered by IBC, Namada protocol users can access other blockchains, such as Cosmos, without any hassle.
How To Participate In Namada Airdrop?
Here is a step-by-step guide to participating in the Namada airdrop.
- Visit the airdrop page on the Namada website.
- To ascertain your eligibility for claiming NAM tokens, you should check it at the “Check NAM Eligibility” icon on the airdrop page.
- Once you find yourself eligible to claim the Namada airdrop, connect your wallet or Github account to the airdrops page.
- Now you can proceed to claim your share of the airdrop token. For that, install the Namada extension and get your Namada address.
- You will receive your share of the NAM coins in your wallet after the token generation event and the mainnet launch.
Who is eligible to participate in the NAM airdrops? The following categories of users can access NAM airdrops.
- Zcash R&D & Rust Developer Ecosystem
- ZKPs, Cryptography PGs, Privacy Research, & Learning Resources
- Interchain PGs, Shielded Ecosystem, PGF Mechanism R&D
- Cosmos and Osmosis stakers
- BadKids NFT holders
- Crypto Advocacy and Gitcoin Donors of ZK Tech
- Namada trusted setup participants.
The Bottom Line
Namada Protocol is an innovative structure in the cryptocurrency world where you can access assets across different blockchains. The shielded assets ensure data protection without compromising on transparency.
To leverage the most of this opportunity, make sure to participate in the Namada airdrop. Having early access to the platform gives you the edge in participating in the growth and development of the Namada Protocol.
