Mantra Testnet – Hongbai Quests

Mantra has recently revealed the introduction of its Hongbai Incentivized Testnet, marking a notable stride towards merging traditional financial markets with decentralized finance (DeFi). This launch comes on the heels of the successful completion of MANTRA Chain’s initial testnet phase. Now, it paves the way for nearly 100,000 enthusiastic participants to delve into the latest infrastructure on the premier RWA layer 1 blockchain.

Investments in the project: $11M

Participate in quests and earn rewards! 50,000,000 OM to be distributed.

Step-by-Step Guide:

1. Complete all available Galxe campaigns here
2. Download Keplr wallet here
3. Add test Hogbai network to Keplr here (Click “Add to Keplr”)
4. Open your Keplr Wallet extension and navigate to the “Manage Chain Visibility” section. Search for “MANTRA” in the list of available chains and check the box next to “MANTRA Hongbai Testnet.”
5. Get test tokens here
6. If you have any questions, you can watch the video guide

Disclaimer: 

This blog is for educational purposes only. The information we offer is not investment advice. Please always do your own research before investing. Any opinions expressed in this article are not a recommendation that any particular cryptocurrency (or cryptocurrency token/asset/index), cryptocurrency portfolio, transaction, or investment strategy is appropriate for any particular individual.

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A few words about 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 MANTRA Chain.

Key advancements in the Hongbai Testnet include:

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 MANTRA 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.
The launch of the Hongbai Testnet marks a significant milestone for MANTRA Chain, bringing it closer to establishing a foundational layer for the RWA ecosystem. The project welcomes developers, users, and blockchain enthusiasts to join in this next phase of development, with participation details to be disclosed gradually through MANTRA Chain’s dedicated discord channel.

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.

Mantra Testnet – Hongbai Quests on Coinatory.