Namada, a new blockchain focused on multi-chain privacy, has proposed to send an airdrop of the upcoming Namada staking token (NAM) to owners of privacy-focused blockchain Zcash (ZEC) altcoins, according to sources.
This will be the first direct airdrop to protected ZEC holders, who are Zcash users who prefer to keep their transaction details private.
Zcash Altcoin Holders Who Keep Their Transactions Private Will Get More Coins
These individuals will not only be able to claim NAM anonymously, but will also be able to receive more from ZEC holders (who will also receive airdrops) who do not hide their transaction details.
Both Namada and Zcash use zero-knowledge proofs (ZK-proofs), a type of cryptography, to verify transactions in cryptocurrencies without revealing the sender, receiver, or transaction amount. ToM evidence is a technique for proving the validity of information without revealing the information itself. ZEC users can keep their transaction details private (protected) or public (transparent).
The Anoma Foundation, the organization behind Namada, says it aims for a mainnet launch in May 2023, after which the exact timing and mechanics of the airdrop will be finalized. The foundation also administers Anoma, a separate protocol that protects privacy.
The airdrop will be part of Namada's retroactive co-asset financing as a way to respond to specific projects and communities like Zcash that have contributed to Namada's technology. The Foundation will allocate at least 20% of the initial NAM supply, which is projected to be NAM 1 billion, to retroactive co-asset funding.
"They donate to the entire Zcash community and ecosystem simultaneously, in a reliable and impartial manner," said Zooko Wilcox, CEO of Electronic Coin Company (ECC), the founder of Zcash.
*Not investment advice.
