Mantra introduces Hongbai incentivized testnet

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MANTRA has unveiled today its Hongbai incentivized testnet, aiming to bridge traditional and decentralized finance (DeFi). This is the second phase of the MANTRA Chain’s testnet, which invites nearly 100,000 participants to test the new infrastructure of the leading its infrastructure focused on tokenizing real-world assets (RWA).

Following the initial testnet phase’s success, the Hongbai Testnet aims to attract non-crypto and institutional users and is poised to broaden the ecosystem’s user base and stimulate decentralized applications (dApp) development on the MANTRA Chain.

The Hongbai Testnet introduces several key features, such as choosing OM as the native token, deployment of the latest software development kit (SDK) and CometBFT consensus mechanism promises improved performance and reliability. Participants will also find custom modules and a new user interface (UI) for better interaction with the MANTRA Chain.

A select group of high-performing validators from the first testnet phase will be phased in to maintain network security and performance. Additionally, user engagement activities are planned, with rewards for participants when the mainnet launches.

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