Foresight News reports that the privacy-focused Layer1 blockchain Namada has launched its genesis block, with the mainnet set to decentralize in five phases, each phase driven by community decisions through on-chain governance. The first phase has begun, with staking and governance functions now online.
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. Token transferability will be enabled in the fifth phase, expected in a few months.