Namada's unified shielded set: why one privacy pool for all assets
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Explains Namada's single asset-agnostic shielded pool for fungible and non-fungible tokens, which enlarges the anonymity set and removes per-platform fragmentation, with low-volume assets benefiting most.
Key claims
A single shielded pool avoids de-anonymization of low-volume assets by entry and exit tracking
Assets enter via IBC and custom bridges including a trustless Ethereum bridge
Privacy will be a big narrative and especially in a multi-chain world, we need solutions that can support any asset across any network, taking an asset-agnostic approach towards privacy.
Earlier today, I talked about @namada鈥檚 vision for asset-agnostic privacy and how they leverage ZK tech to enable exactly this (see thread below).
In this short follow-up I briefly want to elaborate on one key feature that sets Namada apart from other privacy-focused solutions.
Namada allows currencies, fungible, and non-fungible tokens to share a single unified set. It is specifically designed to address issues seen in current solutions:
馃煛 Namada establishes a single, asset-agnostic shielded pool for all types of tokens, both fungible and non-fungible, which improves privacy & security as the size of the privacy set is bigger (size matters).
馃煛 It eliminates fragmentation by platforms through decoupling assets from their platforms, thus enabling their movement to a unified privacy set with no limitations to isolated ecosystems.
The unified shielded set is enabled by聽the MASP/CC circuits that I explain in more detail in the post linked below!
Namada provides a seamless cross-chain UX as users can聽simply move assets into the shielded set聽through IBC and custom bridges such as Namada鈥檚 native聽trustless Ethereum bridge (which I will cover later this week).
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What came next 路 since 07 Nov 2023
Since then
Zero has written 7 more pieces on $NAM since this one.
- Namada's free market launch: why a fully liquid day-one token was deliberateBullish call on $NAM
- Namada: the multi-asset shielded pool and its valuation gap to ZEC and XMRBullish call on $NAM
- NAM listing: Namada as Zcash on steroids at a fraction of ZEC valuationBullish call on $NAM
- Namada mainnet phase 5: shielded pool, MASP and selective disclosureCovers $NAM