Namada, a layer-1 blockchain and shielded asset hub, has seen a governance proposal from community member Ether Gavin. The proposal, announced on Dec. 17, aims to launch a public goods funding campaign. It would involve an airdrop of the native NAM tokens to donors of the blockchain advocacy group Coin Center, timed with the holiday season.
If approved by the Namada community, the L1 blockchain will distribute between 1 and 2 million NAM tokens to Coin Center. This amount is about 2% to 4% of the yearly budget of the public goods funding. The team plans a three-week campaign.
The feedback from the community has been mostly favorable, given Coin Center’s important role. Coin Center’s advocacy efforts are crucial in handling legal and regulatory matters in the U.S. crypto space. A recent ruling by the Fifth Circuit Court of Appeals backed Coin Center’s stance that decentralized protocols and smart contracts aren’t property and can’t be sanctioned, especially after the Tornado Cash case. Coin Center has also listed its key policy goals for the next year, such as safeguarding non-custodial software developers, protecting U.S. crypto owners, advocating for tax reforms, and seeking clarity on securities and commodities laws.
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