After what has felt like a decade in development, Namada has officially launched its mainnet, with the first phase, called Block Party, now live.
This phase marks the beginning of Namada’s rollout, activating foundational features like staking and governance while setting the stage for the next phases of the network. Here’s a detailed look at what Phase 1 offers and how you can get started.
What Happens in Phase 1: Block Party?
Phase 1 introduces Namada’s core functionality, including Proof-of-Stake and governance. $NAM holders, including those who received tokens through airdrops or contributions, can now access their tokens and delegate them to validators to help secure the network. Stake your NAM with Stakecito today.
While staking and governance are enabled, it’s important to note that $NAM tokens are not yet transferable. Token transfers will only become available during the final phase of the mainnet rollout.
How to Stake Your $NAM Tokens
If you’ve received your $NAM tokens, staking is now live. Validators play a critical role in securing the network, and delegating your tokens allows you to earn rewards while participating in the blockchain’s operations.
Here’s a simple guide to staking $NAM:
Go to the Staking section of the Namada interface.
Click on Stake to initiate the process.
Search for Stakecito in the list of validators.
Enter the amount of $NAM you wish to delegate.
Leave at least 0.05 $NAM in your wallet for transaction fees.
Click Stake to complete the process.
Preparing for Phase 2: Staking Rewards
While staking is active in Phase 1, staking rewards will only go live in Phase 2. These rewards are expected to be especially high in the early stages, encouraging users to stake their tokens and contribute to the network’s security. If you’re planning to stake, early participation may offer greater benefits as the network grows.
Governance, another core feature activated in Phase 1, will determine the timeline for transitioning to Phase 2. $NAM holders can vote on when staking rewards and public goods funding should begin, emphasizing the decentralized nature of Namada’s rollout.
Key Takeaways from Phase 1
Staking is Live: Delegate your $NAM tokens to Stakecito to help secure the network.
Governance is Active: Participate in decision-making by voting on key proposals.
Tokens Are Not Transferable: $NAM can be staked and used for governance but cannot be transferred until the final phase.
Staking Rewards Coming in Phase 2: Rewards are likely to be high at the start, so early staking is encouraged.
Phase 1 of Namada’s mainnet, Block Party, sets the foundation for a decentralized and community-driven blockchain. With staking and governance now live, $NAM holders have the opportunity to actively shape the network’s future. Staking rewards, expected to begin in Phase 2, add further incentives for early participation.
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About Stakecito Labs
At Stakecito Labs, we've honed our craft as validators. Our reputation as the third-largest validator by delegation count within the Cosmos ecosystem speaks to our unwavering dedication and the trust placed in us by over 270,000 delegators worldwide.
Our validation services are not just about maintaining Cosmos blockchain networks though; we validate networks outside of Cosmos as well (NEAR, Aleph Zero, etc.).
Our core mission is centered on demystifying blockchain technology to ensure it's accessible for everyone, from newcomers to seasoned investors. To begin staking, visit our homepage.
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