Namada, a layer-1 blockchain platform and shielded asset hub, is making headlines with a new proposal that seeks approval for an airdrop of its native token NAM to Coin Center donors. The proposal, put forward by community member Ether Gavin, aims to initiate a public goods funding campaign that would reward donors of the blockchain advocacy group Coin Center.
According to an announcement made on December 17, Namada revealed that Gavin’s governance proposal has garnered support within the community and is set to coincide with the holiday season. If approved, the L1 blockchain platform plans to airdrop between 1 and 2 million NAM tokens to Coin Center donors, representing approximately 2% to 4% of the PGF’s yearly budget. The team envisions a three-week campaign for the initiative.
Community feedback on the proposal has been largely positive, with many expressing support for funding the U.S.-based Coin Center team. Gavin emphasized the importance of using the PGF to broaden the distribution of NAM tokens while driving donations to Coin Center’s Ethereum address.
Coin Center is known for its advocacy work in addressing legal and regulatory issues impacting the crypto space in the United States. A recent ruling by the Fifth Circuit Court of Appeals validated Coin Center’s argument that decentralized protocols and immutable smart contracts are not property and, therefore, cannot be sanctioned. This argument gained prominence following the legal case against crypto mixing service Tornado Cash.
In addition to the airdrop proposal, Coin Center has shared its top policy priorities for the coming year, which include fighting against the unfair prosecution of developers of non-custodial software, protecting American crypto owners, pushing for sensible tax reforms, and achieving regulatory clarity around securities and commodities laws.
Overall, the Namada proposal to airdrop NAM tokens to Coin Center donors represents a significant step towards supporting the advocacy work of Coin Center and promoting the distribution of NAM tokens within the community. With positive feedback and potential approval from the Namada community, this initiative could have a lasting impact on both organizations and the broader crypto space.