David Edwards
Mantra has just announced the launch of its Hongbai Incentivized Testnet, a significant step towards bridging traditional finance with decentralized finance (DeFi). This comes after the successful first phase of the MANTRA Chain testnet, and now it opens the door for nearly 100,000 eager participants to explore the newest infrastructure on the leading RWA layer 1 blockchain.
Investments in the project: $11M
Join quests and earn rewards! A total of 50,000,000 OM tokens will be distributed.
Step-by-Step Guide:
- Download Leap wallet (You can import your Keplr seed phrase)
- Set the network to the ‘Mantra Hongbai Testnet’
- Click “Claim 0.88 OMly”. You will get 8,8 Karma
- Check your Karma Balnce here
Read related: Making money with Airdrops
A few words about Mantra project:
The Hongbai Testnet, serving as the second phase of MANTRA Chain’s testnet, plays a crucial role in the project’s broader mission to tokenize real-world assets (RWA) and attract users from beyond the traditional crypto sphere, including institutional participants. This phase aims to expand the ecosystem’s user base and foster the development of decentralized applications (dApps) on the Chain.
Key advancements :
Adoption of OM as Native Token: Reflecting the community’s choice, OM has been established as the native chain token, solidifying its position within the ecosystem.
CosmWasm Developer Access: Developers now enjoy enhanced access to CosmWasm, simplifying the process of creating and deploying dApps.
Access to Custom Modules and UI Deployment: Users gain access to custom modules and a user-friendly interface for direct interaction with the Chain, enhancing overall user experience.
Phased Onboarding of Validators: A vetted, high-performing set of validators from the initial testnet phase is being gradually onboarded, ensuring network security and performance.
User Engagement Activities: Users can engage in various activities upon launch, with the opportunity to receive genesis drop tokens upon the mainnet’s launch.
About MANTRA
MANTRA is the first RWA L1 blockchain capable of adhering to and enforcing real-world regulatory requirements. By accelerating the adoption of tokenized RWAs, MANTRA has the potential to unlock the $16 trillion RWA economy with a regulatory-ready blockchain. Through MANTRA Chain’s compliant framework, traditional finance (TradFi) companies can seamlessly transition to and leverage asset tokenization and blockchain solutions, fostering global RWA growth.
MANTRA addresses critical industry challenges, including liquidity fragmentation and cross-chain interoperability, laying the groundwork for a secure, scalable infrastructure. Additionally, MANTRA will offer a decentralized exchange (DEX) providing users with a diverse product suite centered around easy access to tokenized real-world assets.
