Mantra introduces the Hongbai Incentivized testnet, allowing for the connection between conventional and decentralized finance markets via RWA tokenization on a reliable, tier-1 blockchain.
The Hongbai Incentivized Testnet is now active! We’re excited to let in over 100,000 people to delve into MANTRA, our top-tier, security-focused Layer 1 blockchain designed for Real-World Asset (RWA) tokenization. For more information:
— MANTRA | Tokenizing RWAs (@MANTRA_Chain) April 10, 2024
In November 2023, the testnet will be launched with a goal of bringing in over 100,000 people. This initial phase is intended for fine-tuning RWA tokenization and drawing a wide range of users, developers, and institutions.
The main goals for the testnet are: introducing OM as the currency of choice, granting developers use of CosmWasm for creating smart contracts, improving the overall user experience, carefully bringing in new validators, and engaging with users through various activities.
Developers can utilize security-centric tools such as Decentralized ID (DID) for identity checks, Token Service for issuing permission tokens, and a gatekeeper module for managing app access. These functionalities reinforce MANTRA’s commitment to security and compliance.
At the mainnet launch, individuals using GALXE will be able to carry out various functions such as creating digital wallets, managing tokens, exchanging tokens, and generating Decentralized Identifiers (DIDs). Additionally, there is a chance to gain rewards from the pool of 50 million OM tokens set aside for user engagement.
The launch of MANTRA’s Hongbai incentivized testnet is an important step in connecting the traditional financial market with decentralized finance (DeFi). This development comes with strong security protocols in place and prioritizes user involvement and adherence to regulations.
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2024-04-11 09:40