Namada said it is its Swiss-based non-profit arm, the Namada Foundation that will be responsible for issuing airdropped NAM tokens to OSMO holders.
Namada Blockchain, a privacy-focused protocol built on the Cosmos Network, is looking to establish itself in the industry with an Osmosis Partnership (OSMO) offering. like mentioned Via Coindesk, Namada co-founder Christopher Joyce explores a co-funded grant program to fund “public goods” programs.
The proposal would also include airdropping of NAM tokens to existing osmosis holders, a move that would form an almost unbreakable bond between the two protocols. Namada is looking into pushing through these partnerships before it’s officially launched on the mainnet.
The proposal is best marked as mutually beneficial for both Namada and Osmosis, and while it will help give Namada a ready-made community, OSMO holders will make more money in the long run when the airdrops are completed.
As Joss described, the proposed grant program would fund a lot of research initiatives with a particular focus on privacy-focused solutions and development projects. These potential projects would be beneficial to both the Namada and Osmosis protocols, respectively. As a first show of legitimacy, the grant program, according to Osmosis, will be funded by Namada, however, the expectation is that Osmosis will also be supported in its own best ways.
The duo’s collaborations will also see Namada’s Shielded Actions technology used to protect tokens on Namada when not in active use on Osmosis.
“It would be very boring if you only had assets and couldn’t do anything with them,” Joyce explained. “So we expect that people will want to go to decentralized exchanges and osmosis in other chains to trade their assets,” he added.
As part of considerations for a proposed partnership, Namada said it is its Swiss-based non-profit arm, the Namada Foundation that will be responsible for issuing airdropped NAM tokens to OSMO holders.
The namada link and osmosis: a possible timeline
Namada’s push to partner with Osmosis wouldn’t come without major hurdles. One such hiccup is the pre-approval of the osmosis community where the partnership application will still be subject to a strong governance vote.
Osmosis laboratories control the affairs of the blockchain does not mean that the leaders make all the critical decisions. Community input is crucial, and despite the fact that the community has a lot to gain from it, there is no guarantee of what the outcome of the vote will be.
Based on the apparent complexities, there is no idea on the timeline for the collaboration. However, given its history, the chances of success with the Osmosis community are high, considering that Namada signed a similar partnership with privacy layer-one protocol Zcash back in April of this year.
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Benjamin Godfrey is a blockchain enthusiast and journalist who enjoys writing about real-world applications of blockchain technology and innovations to drive public acceptance and global integration of the emerging technology. His desires to educate people about cryptocurrencies have inspired his contributions to popular blockchain-based media and websites. Benjamin Godfrey is a fan of sports and farming.
