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MANTRA’s Hongbai Incentivized testnet has been launched to integrate traditional and defi markets through Real World Asset tokenization. 
The testnet launch represents a development for <a href="https://mantrachain.medium.com/hongbai-incentivized-testnet-is-live-684a9a240457" data-type="link" data-id="https://mantrachain.medium.com/hongbai-incentivized-testnet-is-live-684a9a240457" target="_blank" rel="">MANTRA</a> in utilizing RWA tokenization on a layer 1 blockchain dedicated to security. 
“We’re opening the floodgates for 100,000+ eager participants to explore the leading Layer 1 blockchain for RWA <a href="https://crypto.news/tag/tokenization/" data-type="link" data-id="https://crypto.news/tag/tokenization/" rel="">tokenization</a> by launching the MANTRA Hongbai Incentivized Testnet,” the company said on its Medium page. 
Following an initial testnet phase in November 2023, the project aims to engage a broader audience to refine the <a href="https://crypto.news/tag/rwa/" data-type="link" data-id="https://crypto.news/tag/rwa/" rel="">RWA</a> tokenization process and expand its ecosystem by attracting a range of users, developers, and institutional players. 
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 👨‍💻 Hongbai Incentivized <a href="https://twitter.com/hashtag/Testnet?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">#Testnet</a> is LIVE! We’re thrilled to open the floodgates to the Hongbai testnet, welcoming over 100,000 eager participants to explore <a href="https://twitter.com/hashtag/MANTRA?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">#MANTRA</a>— the premier security-first Layer 1 blockchain for <a href="https://twitter.com/hashtag/RWA?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">#RWA</a> tokenization. Read more: <a href="https://t.co/W6FhBgqE9Q" target="_blank" rel="">https://t.co/W6FhBgqE9Q</a> 🛠️ What… <a href="https://t.co/lsJXcLoGtr" target="_blank" rel="">pic.twitter.com/lsJXcLoGtr</a>— MANTRA | Tokenizing RWAs (@MANTRA_Chain) <a href="https://twitter.com/MANTRA_Chain/status/1778048399125995940?ref_src=twsrc%5Etfw" target="_blank" rel="">April 10, 2024</a>
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The testnet’s objectives include the <a href="https://mantrachain.medium.com/the-next-generation-of-om-tokenomics-0855f13f0d97" data-type="link" data-id="https://mantrachain.medium.com/the-next-generation-of-om-tokenomics-0855f13f0d97" target="_blank" rel="">integration of OM</a> as the chain’s native token, facilitating developer access to the smart contract platform CosmWasm, developing a new user interface, custom modules, a phased approach to validator onboarding, and user engagement activities. 
The testnet offers developers access to modules designed for compliance, including an on-chain Decentralized ID (DID) system, a Token Service module for creating and minting permission tokens, and a guard module for application access control. The features are intended to support MANTRA’s focus on security and compliance. 
Participants can engage in activities on <a href="https://app.galxe.com/krFNiTdbd4L3XrqumQk8fb" data-type="link" data-id="https://app.galxe.com/krFNiTdbd4L3XrqumQk8fb" target="_blank" rel="">GALXE</a>, such as wallet creation, token collection, swaps, and DID minting, for an opportunity to receive part of the 50 million OM allocated for the mainnet launch. 
 Read more: <a href="https://crypto.news/bitcoin-etf-grayscale-outflows-april/" rel=""> Grayscale’s Bitcoin ETF continues pre-halving bleed </a>

MANTRA unveils Hongbai Incentivized testnet

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