Cosmos ecosystem Elys Network announces the launch of its incentive testnet phase two

According to official sources, the Cosmos ecosystem's encrypted trading platform Elys Network has announced the launch of its second phase of incentive testnet, which will be the final stage before the mainnet goes live. The specific criteria for the second phase will not be immediately disclosed, and users will qualify by completing daily tasks. The official explanation states that the primary task is to filter out witch attacks and reward genuine users, hence the criteria will be announced later. In previous news in June, Elys Network announced on X platform that it had completed a $2.50 million seed round financing, with participation from Comma3 Ventures, Cogitent Ventures, Persistence One, and Kahuna. Elys Network is a DeFi Layer 1 application chain on the Cosmos Hub, providing native Bitcoin staking, automated market making, and a multi-asset index pool.