MANTRA, a real-world assets (RWA) tokenization platform that connects traditional assets to the decentralized finance (DeFi) world, has announced the launch of its long-awaited testnet, MANTRA Chain Hongbai Testnet.
The latest testnet follows the successful testnet launched in November that welcomed over 100 active validators. This successive testnet marks a significant step for the platform, as it aims to revolutionize the interaction between traditional finance and the DeFi ecosystem – welcoming a symbiotic relationship between participants from both markets.
The Layer 1 blockchain is RWA-focused, enabling regulatory-compliant assets into the DeFi space by leveraging the robust infrastructure of the Cosmos SDK. MANTRA allows users to take control of their assets in a transparent, safe and regulated platform. Via the Cosmos blockchain (IBC protocol and CosmWasm contracts), the platform offers ‘unparalleled’ interoperability across multiple blockchains, allowing users to transfer their real-world assets to their blockchain of choice. This aims to unlock the $16 trillion RWA market by 2030, giving every MANTRA user a path to owning their assets on the blockchain.
The launch of the Hongbai testnet aims to “build momentum”, as its predecessor testnet made, a statement from the team reads. This latest testnet is expected to attract more users, protocols and decentralized applications (DApps) to the MANTRA ecosystem, forging the platform’s position as a major player in the tokenized RWA space.
Adding to its regulation-friendly stance MANTRA Chain’s architecture is secured by a sovereign proof of stake (PoS) validator set and the CometBFT consensus mechanism. The platform offers users five core mechanisms to enhance their ownership, namely staking, interoperability, execution, module, and application. These layers are meticulously designed to meet the demands of an RWA-focused blockchain infrastructure, offering decentralization, security, and a set of regulatory-compliant frameworks.
In addition, MANTRA’s DAO also recently approved the launch of $OM, its native token, which is the fuel for the platform offering various governance utilities and rewards for stakers. The token serves as the native token for accessing and performing all on-chain services and activities, such as paying fees. Moreover, stakers are rewarded using the $OM token, with an allocation of 1.35X rewards to the stakers.
The regulatory-compliant platform provides a needful bridge for traditional finance investors to join the decentralized finance ecosystem, paving the way for institutional and individual retail investors to join the digital finance world. DApps on the platform can access MANTRA Chain’s execution layer via a subscription model while investors can leverage its DEX module to access unique tokenized RWAs that are not available for trading or investment on other blockchain networks.
MANTRA ensures developers, institutions, and developers are able to create trade and manage RWAs on the platform while adhering to regulatory requirements at the protocol level. This is made possible via its key modules Guard Module, Token Service Module, Liquidity Module, and Compliance Module which form part of the Composable Module Layer.