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Mara Launches Ethereum-Compatible Testnet: A Boost for Africa-Focused DeFi

Mara, an Africa-focused DeFi platform, announces the launch of a testnet for Mara Chain, an Ethereum-compatible layer 2 network. This will bolster blockchain development across Africa.

Africa's DeFi Gets a Boost with Mara's Ethereum-Compatible Testnet

Mara, a decentralized finance (DeFi) platform focusing on Africa, has announced the launch of a testnet for its upcoming Mara Chain. This Ethereum-compatible layer 2 network uses MARA tokens for fees. The initiative will allow developers in Nigeria and across Africa to build and test their decentralized applications on Mara Chain, which is a fork of Optimism.

The network's release follows the recent launch of the Mara Wallet, enabling users to trade and withdraw both fiat currencies and tokens.

"Blockchain technology has evolved into an essential utility and infrastructure, crucial to the development of every nation, similar to electricity or the internet," said Chi Nnadi, CEO of Mara. "In Africa, there are plenty of opportunities that can be harnessed using blockchain to deliver extensive utility for the African populace."

Testnets are networks that simulate real-world blockchains, allowing developers to test applications and the blockchain for any bugs or issues before the actual launch.

Mara Chain developers highlighted several benefits, including sub-second transaction speeds, low gas fees, and interoperability with other Optimism-based networks.

Developers also stated that Mara actively seeks feedback from the developer community and partners for continuous improvement of the platform before the mainnet launch.

"Mara aims to enhance collaboration and foster a supportive ecosystem that nurtures blockchain applications' growth by actively engaging with users," said Mario Karagiorgas, VP of Mara Chain. "Tangible rewards, bounty grants, and development grants are available for those who contribute to advancing and enhancing the capabilities of the Mara Chain."