Yala is an innovative project in the decentralized finance (DeFi) space, focusing on creating a Bitcoin-backed, yield-earning stablecoin called YU. The project aims to bridge the gap between Bitcoin’s value storage capabilities and the flexibility of stablecoins in the DeFi ecosystem. Yala’s core offering, the $YU stablecoin, allows users to mint stablecoins by depositing Bitcoin, leveraging the security and value of BTC while providing the stability needed for various DeFi applications.
Yala is currently running a testnet phase, offering users the opportunity to earn “Berries” – airdrop points that are likely to be valuable when the project launches its mainnet and governance token.
https://app-testnet.yala.org