MANTRA rolls out Hongbai Incentivized testnet, aiming to bridge traditional & DeFi markets through RWA tokenization on a secure layer 1 blockchain.
The testnet’s launch, after an initial phase in November 2023, targets over 100,000 participants to refine RWA tokenization and attract diverse users, developers, and institutions.
Key objectives of the testnet include integrating OM as the native token, providing developer access to CosmWasm for smart contracts, enhancing the user interface, onboarding validators gradually, and conducting user engagement activities.
Developers gain access to compliance-focused modules like Decentralized ID (DID) for identity verification, Token Service for permission token creation, and a guard module for application access control. These features support MANTRA’s security and compliance focus.
Participants can interact with GALXE for tasks like wallet creation, token activities, swaps, and DID minting, with opportunities to earn from the 50 million OM tokens allocated for the mainnet launch.
MANTRA’s Hongbai Incentivized testnet launch represents a significant stride towards bridging traditional and DeFi markets, backed by robust security measures and a focus on user engagement and compliance.
Also Read: MANTRA Revolutionizes RWA Tokenization in Middle East & Asia
