MANTRA just announced the launch of its Hongbai Incentivized Testnet, a move seen as a significant step towards integrating traditional financial markets with decentralized finance (DeFi). The introduction of the Hongbai Testnet follows the success of MANTRA Chain’s testnet first phase. It now opens the floodgates for nearly 100,000 eagerly awaiting participants, granting them access to explore the latest infrastructure on the leading RWA layer 1 blockchain.
The Hongbai Testnet, representing the second phase of MANTRA Chain’s testnet, is part of the project’s broader efforts to facilitate the tokenization of real-world assets (RWA) and to draw in users from outside the traditional crypto space as well as institutional participants. This phase is expected to expand the ecosystem’s user base and to encourage the development of decentralized applications (dApps) on MANTRA Chain.
Key Developments in the Hongbai Testnet include:
About MANTRA
MANTRA is the first RWA L1 blockchain capable of adherence and enforcement of 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, TradFi companies can easily switch to and leverage asset tokenization and blockchain solutions, boosting global RWA growth.
MANTRA addresses key industry challenges, including liquidity fragmentation and cross-chain interoperability, setting the foundation for a secure, scalable infrastructure. MANTRA will also offer a DEX that provides users with a diversified product suite built around easy access to tokenized real world assets.
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ContactContact Marketing LeadChristoph Lidmanpress@mantrachain.io
This article was originally published on Chainwire
Source: Cryptocurrency - investing.com
