Africa-Focused DeFi Platform Releases Testnet

The new DeFi platform Mara, which focuses on Africa, is launching an Ethereum-compatible testnet for developers in Nigeria and across the continent

Africa-Focused DeFi Platform Releases Testnet

DeFi platform Mara, aiming to transform the financial lives of Africans and empower them to build wealth via blockchain, releases Mara Chain, an Ethereum-supported layer 2 network that uses MARA tokens for fees.

According to the company, Mara Chain forked via Optimism aims to be secure, scalable, and developer-friendly. While the layer 2 chain is still work-in-progress, developers can experiment with the testnet to discover the features and benefits offered by Mara.

As the network is in the testing stage, Mara is seeking feedback from the developer community and partners to ensure the platform is working properly ahead of the mainnet launch.

Developers wishing to build and deploy decentralized applications (dApps) on Mara’s blockchain network can benefit from the following network characteristics:

  • sub-second transaction finalization, enabling real-time use cases;
  • Mara Chain transactional fees, removing direct dependency on Ethereum gas cost for end users;
  • permissionless interoperability with other Optimistic Rollups and EVM chains;
  • easy access to DeFi, NFT’s Marketplaces, micro-payments, and gaming.

Before the testnet, the company launched Mara Wallet, allowing users to trade and withdraw both fiat currencies and crypto tokens. Mara Academy is another part of Mara’s digital ecosystem, providing African citizens with education on the blockchain and digital economy.

The Africa-focused DeFi platform founders believe in the transformative power of blockchain and cryptocurrencies. “Opportunities abound in Africa that can be harnessed using blockchain as a technology to deliver widespread utility for African people,” says Chi Nnadi, CEO of Mara.

Nina Bobro

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Nina is passionate about financial technologies and environmental issues, reporting on the industry news and the most exciting projects that build their offerings around the intersection of fintech and sustainability.