Yala Project Introduction
Yala Protocol is an innovative DeFi platform that aims to enable cross-chain interoperability in multiple ecosystems through Bitcoin liquidity. Its core product is the $YU stablecoin, a stablecoin with Bitcoin as the main collateral and soft-pegged to the US dollar.
Core objectives:
Stable value: $YU maintains a stable value with the US dollar, suitable for trading, hedging and savings.
Yield generation: Holders earn yield through DeFi activities such as lending and liquidity provision.
Project advantages:
Bitcoin Collateral: Provides strong security and liquidity through Bitcoin.
Cross-chain compatibility: $YU can run on multiple blockchain networks, enhancing its wide application.
Decentralized operation: Users can freely create vaults, deposit Bitcoin, and mint $YU.
Stabilization mechanism:
Yala ensures the price stability of $YU through overcollateralization, stability fees, and liquidation mechanisms, and relies on incentivized market participants (such as arbitrageurs) to maintain its value.
Financing Information
Yala recently completed an $8 million seed round led by Polychain Capital and Ethereal Ventures, with other investors including Galaxy, Anagram, ABCDE, Amber Group, HashKey Capital, Satoshi Lab, and UTXO Management. The funds will be used for team expansion, product development, security enhancement, and preparation for the mainnet launch. Investors also pledged more than 2,000 bitcoins to Yala.
Tutorial Start
Registration and Binding
Portal: https://app-testnet.yala.org?inviteCode=Jm7CTIa806
After coming in:
Let's click Get Started in the upper right corner to switch to the novice tutorial interface
1. Link BTC wallet and EVM wallet separately
2. After the link is completed, click Go to step 1.2
After the jump:
Click here to get water
Enter amount
Complete human-machine verification
Click Submit (there will be a delay in the arrival of the account, please be patient~)
After receiving the information, we return to the interface just released.
After coming back, we click 1 and 2 in turn to skip these two steps and go directly to the next step
After the jump:
Follow the official Twitter
Bind our Twitter username
Click Submit
Deposit BTC
Let’s go back to the main task interface.
Click MetaMint YU
Click here to add YU tokens to your wallet
Enter any amount (you cannot enter the entire amount in your wallet, you need to leave gas)
Click MAX
Click Approve and complete the signature in the wallet.
Staking YU
Let’s go back to the main task interface.
Click Portfolio
Click to Stake YU
Click Stake
Enter any amount or click MAX
Click Stake and complete the signature in the wallet.
(This step requires the use of Sepolia test network ETH as GAS)
Other tasks
Let’s go back to the main task interface.
Click Berries & Leaderboard
Here is our invitation link, you can share it with your friends to get points
Daily check-in tasks
Submit Feedback: Earn 10 Berries each time you submit feedback, up to 5 submissions per day. Feedback must be at least 30 words long and include at least one screenshot.
