Namada launches the first phase of the mainnet and distributes NAM airdrop

ChainCatcher message, the privacy-focused Layer1 blockchain Namada has launched its genesis block and will decentralize the mainnet in five phases, each driven by community decisions through on-chain governance. The first phase has begun, and staking and governance functions are now live.

Namada has released a community airdrop, with a total supply of 1 billion NAM tokens. Eligible wallets will receive NAM tokens, which can be immediately used for staking and governance. Staking rewards will be activated in the second phase. The transferability of tokens is expected to be enabled in the fifth phase within a few months.