With the goal of bridging traditional and DeFi markets through RWA tokenization on a secure layer 1 blockchain, MANTRA launches the Hongbai Incentivized testnet.
Following an initial phase in November 2023, the testnet is scheduled to launch with over 100,000 participants with the goal of refining RWA tokenization and drawing in a wide user base, developers, and institutions.
The testnet’s primary goals are to integrate OM as the native token, give developers access to CosmWasm for smart contracts, improve the user experience, gradually onboard validators, and carry out user engagement initiatives.
Developers can utilize compliance-focused modules such as the guard module for application access control, Token Service for permission token creation, and Decentralized ID (DID) for identity verification. These functions complement MANTRA’s emphasis on security and compliance.
In addition to having the chance to earn from the 50 million OM tokens allotted for the mainnet launch, participants can engage with GALXE through tasks including wallet setup, token activities, swaps, and DID minting.
With strong security measures and an emphasis on user participation and compliance, MANTRA’s launch of the Hongbai Incentivized testnet is a major step towards bridging the conventional and DeFi markets.
