Privacy
Penumbra, pushing the boundaries of Web3 privacy
![](https://framerusercontent.com/images/5NTaqIFWUhPzN5f6RKntckRBqg.jpg)
Seppmos
Researcher
Date
July 8, 2024
Everything you need to know about the Penumbra launch:
In this blog post we'll cover the following topics thoroughly
- Three-stage launching process
- Tokenomics (Airdrop, genesis supply, inflation)
- $UM Staking
- Penumbra DEX
▶️ Staged Launch:
For the Penumbra main net to be fully functional it has to go through the following three launching phases:
1) Phase 0:
The initial validator set has found the genesis block
New validators can join the network
Airdrop claimants can check their balances and stake to a validator
=> We're currently in this phase
2) Phase 1:
Penumbra's IBC module gets enabled via a governance vote
This does not enable IBC transfers yet, but merely allows IBC connections to other chains to be created
3) Phase 2 (Full Functionality):
IBC functionality will be activated via another gov. vote
Activation of the Penumbra DEX
Price diescovery of the $UM token begins
▶️ Tokenomics:
Genesis supply = 100M tokens
16% of the supply goes out to the community via an airdrop
25% to the community pool
Investor and team tokens are locked (2-3 year lockup with a one year cliff)
IAN = Institute for Applied Numogrammatics
IAN is a Cayman foundation dedicated to supporting the Penumbra ecosystem and protocol. It's an independent entity, that will engage in grant-making activities.
▶️ Penumbra Staking:
$UM staking is fully private with validator-specific liquid-staking tokens
Inflation is fixed by governance, starting at 2% p.a. (this minimizes excessive rewards for locked holders seen on other Cosmos chains)
Staking is fully non-custodial; users retain sole custody of their tokens
Unbonding period: 21 days
▶️ Penumbra DEX:
MEV minimization by eliminating transaction ordering
=> All trades are submitted in the same block and executed in a single batch with a common price.
This might lead to intra-chain arbitrage, hence the DEX autonomously performs arbitrage txs at the end of each block to correct mispriced positions.
=> All arbitrage proceeds are burned 🔥
Disclaimer
This article is intended to educate readers about certain topics and should not be considered financial advice in any way.