The testnet for tokenizing real-world assets and bridging the gap between traditional and decentralized finance markets is now live on MANTRA’s Hongbai platform.
MANTRA takes a step forward with the testnet launch, as we begin using RWA tokenization on a secure, standalone blockchain.
The company announced on its Medium page that they will be allowing over 100,000 excited individuals to experiment with the foremost Layer 1 blockchain for RWA tokenization by initiating the MANTRA Hongbai Rewards Testnet.
After a trial run on the testnet in November 2023, the goal is to bring more people into the project and improve the RWA tokenization method. This includes various groups such as individuals, developers, and large institutions to broaden the project’s reach and grow its ecosystem.
The Hongbai Incentivized Testnet is now active! We’re excited to let more than 100,000 users join and discover MANTRA, our top-tier security-focused Layer 1 blockchain designed for Real-World Asset (RWA) tokenization. Learn more: [Link]
— MANTRA | Tokenizing RWAs (@MANTRA_Chain) April 10, 2024
The goals for the testnet involve several key initiatives. First, we’ll integrate OM as the primary token for this blockchain. Second, we aim to make CosmWasm, our smart contract platform, more accessible for developers. Third, we plan to create a fresh user interface. Fourth, we will build custom modules. Fifth, we’re adopting a phased strategy for inviting validators to join the network. Lastly, we’ll engage users through various activities.
developers can make use of the testnet’s offerings, which include a DID (Decentralized ID) system for on-chain identification, a Token Service module for generating and issuing permission tokens, and a guard module to regulate application access. These functionalities are geared towards reinforcing MANTRA’s commitment to security and compliance.
On GALXE, individuals are able to take part in various actions like establishing digital wallets, amassing tokens, exchanging tokens, and generating Digital Identity Documents (DIDs). As a reward, they may be eligible to claim a share of the 50 million OM tokens set aside for the mainnet debut.
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2024-04-10 19:37