Namada (NAM)
Unlock Schedule
Namada (NAM) Token Unlock & Vesting Schedule
As of October 16, 2026, 1 billion NAM have been released. The schedule is ongoing, with no final release date.
The chart shows gross modeled releases of every allocation: vesting unlocks, new issuance and reserve distributions, each allocation counted once. These have different meanings; a scheduled release is not evidence that tokens entered circulation or were sold. Review the coverage, sources and assumptions below.
Each color segment in the chart corresponds to a specific allocation group described in the Allocations section below. Underlying assumptions and data models used to reconstruct this schedule are explained in detail under Assumptions, while broader utility insights and token use cases are covered in Tokenomics & Utility.
Tokenomics & Utility
Supply and genesis
Namada’s proposed genesis described a total supply of 1,000,000,000 NAM (one billion) with no lockups at launch, distributed across categories such as supporters of the Anoma Foundation, early core contributors, public‑goods funding (retroactive and future), and ecosystem development. The allocations were discussed publicly before mainnet as part of an open, community‑driven launch process. (namada.net)
Inflation that funds public goods and privacy
Namada’s economics are designed to pay for public goods. New NAM can be minted algorithmically to reward proof‑of‑stake security, to incentivize use of the shielded pool, and to fund public goods (PGF). These flows are controlled by PD‑controllers that adjust rates toward targets set via governance. At genesis, the protocol parameters allowed up to 10% per year for staking rewards (tuned to hit a target staking ratio) and up to 10% per year for shielded pool incentives (set per asset). PGF is an additional, governance‑set rate used to fund ecosystem work. Governance can update these parameters over time. (specs.namada.net)
Staking, governance, and fees
- Staking: NAM holders can delegate to validators and earn protocol rewards. Unbonding periods apply; at mainnet, Namada set a 14‑day unbonding period. Validator commissions and performance affect outcomes. (namada.net)
- Governance: NAM confers voting power. Validators vote by default, but delegators can override them and vote directly. Proposal deposits are required to reduce spam, and successful proposals can enact upgrades on‑chain. (namada.net)
- Fees: NAM pays transaction fees across transparent and shielded actions. With 4‑second blocks and CometBFT, settlement is quick while preserving privacy. (docs.namada.net)
Shielded set rewards (SSR)
Because bigger anonymity sets help everyone, Namada pays users to keep eligible assets in the MASP. Rewards are dynamic and set per asset, with governance able to add or remove tokens and tune targets. This creates a flywheel: more shielding → bigger shared set → stronger privacy → more reasons to shield. (namada.net)
Assumptions
Namada created one billion NAM at its December 2024 genesis, with no genesis-allocation vesting; the chart dates those tokens by the updated allocation categories. PoS rewards, shielded-set rewards and on-chain public-goods funding can add NAM, but their actual monthly amounts cannot be calculated from the sourced rate limits and proposals. Future grant spending and a named builder award lack verified payment schedules, while Luminara’s March 2026 return to the PGF account is a dated transfer of existing tokens. The dated chart therefore shows the genesis issuance and that transfer, not an invented monthly inflation curve.
- Anoma Foundation future core-development funding: Releases depend on future governance or treasury decisions.
- Anoma Foundation future general RPGF funding: Releases depend on recipients claiming tokens or on grants being awarded.
- Luminara future general RPGF funding: The sources give the amount but no release dates.
- PoS validator and delegator rewards: New issuance depends on network activity, such as staking, so it cannot be dated in advance.
- Shielded-set rewards: New issuance depends on network activity, such as staking, so it cannot be dated in advance.
- On-chain public-goods funding: Releases depend on future governance or treasury decisions.
- Namada Builder Allocations Round 1: Releases depend on future governance or treasury decisions.
- 1. https://namada.net/blog/namada-community-genesis-process-cryptoeconomic-mechanisms-and-the-genesis-allocations
- 2. https://storage.ghost.io/c/b4/78/b478e5f9-b40f-46b9-a637-0d8e51125442/content/images/2024/08/Screenshot-2024-08-15-at-13.54.27.png
- 3. https://namada.net/blog/namada-mainnet-is-live
- 4. https://namada.net/blog/namada-mainnet-launch-is-complete
- 5. https://forum.namada.net/t/namada-community-genesis-process-cryptoeconomic-mechanisms-and-the-genesis-allocations-discussions/872/16
- 6. https://forum.namada.net/t/luminara-has-returned-52-379-111-75-nam-to-pgf/1931
- 7. https://docs.namada.net/operators/validators/staking
- 8. https://docs.namada.net/users/shielded-accounts/shielded-rewards
- 9. https://docs.namada.net/users/public-goods-funding
- 10. https://forum.namada.net/t/understanding-namada-inflation/1800
- 11. https://forum.namada.net/t/reduce-staking-inflation-target-revised/1846
- 12. https://forum.namada.net/t/proposal-to-turn-off-pgf-treasury-inflation/1908
- 13. https://forum.namada.net/t/namada-builder-allocations-round-1-2-05m-nam/1623
- 14. https://forum.namada.net/t/retropgf-for-service-providers/1858
- 15. https://explorer.namada.net/
Tokenomics Overview
Market Data
Tile coloring: Green indicates positive changes, red indicates negative changes, and neutral indicates no significant trend or unavailable data.
Allocations
Parts of this allocation with their own release dates are charted as their own allocations; the chart shows the rest here.
Tokenomics Overview
Market Data
Tile coloring: Green indicates positive changes, red indicates negative changes, and neutral indicates no significant trend or unavailable data.