[Proposal] Add Support for USDC, USDY, UM, NYM, NTRN

Governance Ops Proposal šŸ—³ļø
1

Following a productive round of community discussion and feedback [here], I think it makes sense to move forward with the next set of asset integrations for Namada. The goal is to continue building the MASPā€™s utility and reach, while balancing ease of integration with ecosystem alignment.

Assets Selected for Integration

We propose to add support for the following assets: USDC (via Noble), USDY (via Noble), UM (Penumbra DEX), NYM (Nym mixnet), NTRN (Neutron).

These assets were selected based on a mix of community feedback, ecosystem alignment, and integration feasibility. They represent a thoughtful next step in expanding MASP coverage across key narratives (privacy, dollar access, and interchain experimentation) while staying within current technical constraints.

Rationale

Weā€™ve loosely organized our asset strategy into categories, guiding which assets are added and when

  1. Mindshare & Ecosystem Assets - High-value, widely held assets like BTC, ETH, and SOL.

  2. Stables - Dollar-backed tokens like USDC and USDY provide the basis for real-world use cases (grants, payments, DeFi).

  3. Privacy Allies - Tokens like UM and NYM align with Namadaā€™s privacy ethos and represent adjacent communities with shared values.

  4. Low-Lift Adds - Assets that are easy to integrate and maintain momentum during high-focus engineering phases.

The five selected assets check the box in a few of these categories, while being relatively low lift from an IBC integration standpoint (an important consideration as the Heliax team focuses engineering efforts on the roadmap toward Phase 5.).

Incentives

These assets wonā€™t be incentivized at launch, but could be prioritized soon depending on how usage and incentives evolve for the currently ā€œincentivizedā€ asset list. As noted in previous threads, we expect incentive dynamics to shift as some caps are reached, usage varies, and data becomes available for reallocation decisions.

Integration Steps

  1. Opening and testing IBC channels on the Campfire testnet

  2. Verifying compatibility and completing integration testing

  3. Championing a mainnet governance proposal to:

    a. Raise IBC rate limits

    b. Enable each new token to be used to pay gas fees

  4. Add the assets to the chain registry

The Heliax team will be coordinating with ecosystem relayers to ensure smooth rollout. These integrations are relatively low lift, so we aim to move quickly without blocking core development progress!

20 Likes
2

exciting!! :fire:

canā€™t wait to see what we can unlock with smart contracts on Neutron

6 Likes
3

Will be working on it in the upcoming days on Campfireā€™s testnet, as phase 4 related hard-fork has been performed there few hours ago.

From that list, UM (Penumbra) is supported for now.

6 Likes
4

That is great, USDC (via Noble) will be super useful IMO

4 Likes
5

Awesome !
Excellent news !

2 Likes
6

Glad stables are on the table! Any reason for noble over axelar?

4 Likes
7

Appreciate the clarity here. Is there a rough ETA for when the governance proposal might go up? Also curious if there are any known technical blockers for any of the selected tokens?

2 Likes
8

Great, I hope this happens as soon as possible!

2 Likes
9

Great news, hope everything works out.

3 Likes
10

Great!

Š”an we already add Ethereum at this stage using cosmos Eureka technology?

Iā€™m also curious as to why that choice was made.

Can we add USDT? (axelar or kava)

1 Like
11

Good question ā€” it came down to choosing between native (directly from Circle) and bridged. Starting with native felt like the clearer choice based on earlier feedback and comments on the prev forum post.

5 Likes
12

Great news, we can add support for Noble, Penumbra and Neutron channels on mainnet

2 Likes
13

Iā€™ve just opened IBC channels for Noble, Penumbra and Nym. In Neutronā€™s case, Iā€™m getting an issue while trying to create a new channel - Iā€™ve tried with different endpoints, but still getting the same. I suspect that this probably has to do with Hermes version - the version on their docs is v1.6.0 - not sure if the upstream versions broke somehow the compatibility with Neutron? (thoughts? @yito88).

ERROR ThreadId(01) foreign_client.create{client=neutron-1->namada.5f5de2dd1b88cba30586420:07-tendermint-0}: failed to create client: error raised while creating client for chain neutron-1: failed when building client state: gRPC call `query_ccv_consumer_chain_params` failed with status: status: Unimplemented, message: "unknown service interchain_security.ccv.consumer.v1.Query", details: [], metadata: MetadataMap { headers: {"content-type": "application/grpc"} }

Waiting for feedback in regard Neutronā€™s case so as to see if the issue can be addressed or what we finally decide otherwise, to then coordinate relayers in the respective channel.

## Namada mainnet <> Penumbra mainnet 
chain_id: namada.5f5de2dd1b88cba30586420,
client_id: 07-tendermint-6,
connection_id: connection-4, 
port_id: transfer,
channel_id: channel-4

chain_id: penumbra-1,
client_id: 07-tendermint-18,
connection_id: connection-14,
port_id: transfer,
channel_id: channel-13

## Namada mainnet <> Noble mainnet 
chain_id: namada.5f5de2dd1b88cba30586420,
client_id: 07-tendermint-8,
connection_id: connection-6, 
port_id: transfer,
channel_id: channel-5

chain_id: noble-1,
client_id: 07-tendermint-153,
connection_id: connection-143,
port_id: transfer,
channel_id: channel-136

## Namada mainnet <> Nym mainnet 
chain_id: namada.5f5de2dd1b88cba30586420,
client_id: 07-tendermint-10,
connection_id: connection-7, 
port_id: transfer,
channel_id: channel-6

chain_id: nyx,
client_id: 07-tendermint-20,
connection_id: connection-10,
port_id: transfer,
channel_id: channel-13

Created respective PRs on both chain registry and Luminara repositories.

6 Likes
14

I would support Noble and Neutron

3 Likes
15

Thank you! It seems that the gRPC endpoint didnā€™t exist.
How about setting ccv_consumer_chain = false for neutron-1 in the Hermes config?

2 Likes
16

Great proposal ā€” adding support for new tokens (USDC, USDY, UM, NYM, NTRN) will make Namada more useful and accessible for various use cases: privacy, stablecoins, and interchain integration. Itā€™s especially good to see that this doesnā€™t slow down core development, and the tokens were chosen based on community feedback and ease of integration.

4 Likes
17

Iā€™ve finally been able to create Namada <> Neutron IBC channel - it looks like Neutron is no longer under the umbrella of Interchain Security since few weeks ago, so itā€™s not a consumer chain of Cosmos Hub anymore.

## Namada mainnet <> Neutron mainnet 
chain_id: namada.5f5de2dd1b88cba30586420,
client_id: 07-tendermint-11,
connection_id: connection-8, 
port_id: transfer,
channel_id: channel-7

chain_id: neutron-1,
client_id: 07-tendermint-168,
connection_id: connection-128,
port_id: transfer,
channel_id: channel-7024
4 Likes
18

Thank you for considering the privacy allies, lets keep building the shielded ecosytem! :shield:

5 Likes
19

The hash in on-chain proposal with ID 19 matches the one in namada-governance-upgrades repository. We support it.

namadac query-proposal --proposal-id 19
Last committed epoch: 598
Proposal Id: 19
Type: Default with Wasm
Author: tnam1qq92nknz9u82aewcw3k0nrp7t7d5ytgskcjkyduk
Content: {"authors": "Veil", "details": "This proposal seeks to add support for four new assets - USDC (via Noble), UM (Penumbra), NYM (Nym), and NTRN (Neutron) - to Namada's MASP and transparent platform. These assets were selected based on community feedback, ecosystem alignment, and ease of integration. Specifically, this proposal includes setting appropriate IBC rate limits and allowing these assets to be used for gas payment.\n\nThe code used to produced the attached WASM can be found at: https://github.com/anoma/namada-governance-upgrades/blob/cccbb06948f258ceae935806ec17019f8838879e/phase3/src/lib.rs \n\nTo summarize, the rate limit and gas parameters set for each token are:\n\nUSDC:\nGlobal mint limit: 5M\nPer-epoch limit: 1M\nGas price: 3 uusdc / gas unit\n\nUM:\nGlobal mint limit: 5M\nPer-epoch limit: 1M\nGas price: 10 upenumbra / gas unit\n\nNYM:\nGlobal mint limit: 10M\nPer-epoch limit: 2M\nGas price: 50 unym / gas unit\n\nNTRN:\nGlobal mint limit: 10M\nPer-epoch limit: 2M\nGas price: 20 untrn / gas unit", "discussions-to": "https://forum.namada.net/t/proposal-add-support-for-usdc-usdy-um-nym-ntrn/1648", "title": "Whitelisting USDC, UM, NYM, and NTRN for Namada"}
Start Epoch: 598
End Epoch: 621
Activation Epoch: 622
Status: on-going
Data: Hash: DB46BB1F2F048D4B3431A53E708224238D828F418F7B3B1A6505FCE7BBEB9FD7

sha256sum phase3.wasm
db46bb1f2f048d4b3431a53e708224238d828f418f7b3b1a6505fce7bbeb9fd7  phase3.wasm
  • the name of the resulting wasm file is phase 3.
6 Likes