Yala Updates: December

December marked another exciting chapter and a perfect ending for Yala, with the successful launch of Testnet V2, reaching 1M+ testnet users, festive Xmas community campaigns, and more. As we welcome the new year, we’re proud to reflect our progress and share what’s next for Yala.

In this update, we’ll cover:

1. Yala Testnet V2 Launch & Key Highlights
2. Community Engagement & Growth
3. Looking Ahead: Mainnet in 2025

Amid the festive holiday season, Bitcoin DeFi and Yala have continued to push forward. Guided by rigorous research and insights from active Testnet users, we’ve turned valuable feedback into roadmap innovations.The Yala team has remained focused on bridging BTC liquidity across blockchains, taking decisive and collaborative strides toward our mission.

Yala Testnet V2 Launch & Key Highlights

On December 2nd, we launched Phase 2 of the Yala testnet V2, a significant leap forward for Yala’s evolution. This release introduces refined features, new functionalities, and an optimized user experience, bringing us closer to realizing our mission.

Key Highlights of Testnet V2

1. Enhanced Staking Capabilities: 

Users can now deposit BTC to mint YBTC and withdraw YBTC to receive BTC at a 1:1 ratio. A dedicated “In and Out History” page provides full transparency into staking and unstaking activities.

2. YU/YBTC Liquidity Incentive Plan: 

Liquidity providers on Uniswap can stake LP tokens to earn points and rewards, fostering participation and ecosystem growth.

3. Improved Transaction Security: 

Block processing time has been updated to 6 blocks (~1 hour), enhancing security while maintaining operational efficiency.

4. Simplified Platform Features: 

Streamlined workflows, including retiring the “Return the Asset” function, and ending YU Staking, allow for a more intuitive user experience.

5. Earning Berries:

Engagement on Testnet V2 comes with additional rewards, including bridging incentives, liquid staking rewards, and Berries earnings to boost leaderboard rankings.

With these updates, Testnet V2 offers a more engaging, secure, and efficient DeFi experience, setting the stage for mainnet launch in Q1 2025.

We’re also excited to share the impressive results from Testnet V2 by end of December:

• 340.18K BTC staked on the testnet
• $15.35B in $YU minted
• Over 1M users engaged

Reaching 1 million testnet users is a huge milestone for Yala, reflecting the growing momentum and interest in Yala’s platform. It underscores the success of our user acquisition strategies and the community’s enthusiasm for Bitcoin DeFi innovation.

Community Growth

This December, the Yala Xmas Advent Calendar brought joy to our community with 24 days of daily challenges, quizzes, and surprise rewards, strengthening the bond within our community and growing our user base further during the holiday season.

By early January, Yala's community reached an impressive milestone of over 1 million testnet users, and nearly 220K active community members, fuelled by consistent engagement across platforms: 

• Twitter (X) experienced steady growth, with a 12.12% increase in followers, reaching over 100K followers, supported by regular updates, user-generated content, and engagement with Testnet V2 announcements. 
• Telegram saw remarkable growth, with the number of community members surging by 255.08% and interactions climbing by over 40%, highlighting Yala’s success in fostering real-time conversations and a welcoming atmosphere for new users. 
• Discord flourished as a hub for tech-savvy members, with a 211.36% increase in members and nearly 49% more active users. 

Interactive events and discussions around Bitcoin DeFi and Testnet V2 features boosted engagement, and our moderator’s responsive support has been key in boosting user satisfaction, fostering a vibrant space for discussions, and driving continued community growth.

What’s Next: January

Building on the success of Testnet V2, our focus now shifts to preparing for our mainnet launch in Q1 2025. This will bring new features, refined functionality, and greater opportunities for our users and the broader Bitcoin DeFi community.

It has been an incredible year for Yala and the Bitcoin DeFi ecosystem. We thank everyone for being part of Yala’s journey! Stay tuned as we continue to shape the future of Bitcoin liquidity!