MANTRA unveils Hongbai Incentivized testnet

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MANTRA’s Hongbai Incentivized testnet has been launched to combine conventional and defi markets by way of Actual World Asset tokenization.

The testnet launch represents a growth for MANTRA in using RWA tokenization on a layer 1 blockchain devoted to safety.

“We’re opening the floodgates for 100,000+ keen members to discover the main Layer 1 blockchain for RWA tokenization by launching the MANTRA Hongbai Incentivized Testnet,” the corporate mentioned on its Medium web page.

Following an preliminary testnet section in November 2023, the venture goals to interact a broader viewers to refine the RWA tokenization course of and increase its ecosystem by attracting a variety of customers, builders, and institutional gamers.

The testnet’s goals embody the integration of OM because the chain’s native token, facilitating developer entry to the good contract platform CosmWasm, growing a brand new consumer interface, customized modules, a phased method to validator onboarding, and consumer engagement actions.

The testnet presents builders entry to modules designed for compliance, together with an on-chain Decentralized ID (DID) system, a Token Service module for creating and minting permission tokens, and a guard module for utility entry management. The options are supposed to assist MANTRA’s concentrate on safety and compliance.

Contributors can interact in actions on GALXE, equivalent to pockets creation, token assortment, swaps, and DID minting, for a chance to obtain a part of the 50 million OM allotted for the mainnet launch.

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