Yala Updates: February

January ignited the engines, but February sent us into hyperdrive. With 1.72 million testnet Yetis rallying behind Yala, continued protocol upgrades rolling out, and a community growing louder by the day, Yala is building a liquidity layer unlocking Bitcoin’s untapped yield across DeFi and RWAs.

The market may sway, but our vision holds firm: to bridge Bitcoin’s liquidity across blockchains and empower BTC holders with seamless access to cross-chain yields. February sharpened our focus: Bitcoin isn’t just an asset – it’s the lifeblood of a new yield-driven ecosystem. Here’s the rundown.

In this update, we’ll cover:

1. Yala Testnet V2 Success
2. Yala Protocol Developments
3. Community Momentum
4. What's Next

Testnet V2 Success: The Gathering of 1.72M Yetis

February saw Testnet V2 continue to thrive! Since the launching off the Yala Testnet on October 15th, we've achieved remarkable milestones over the past three months:

• 910.66K Total BTC Staked
• $23.97B Total YU Minted
• 1.72M Active Testnet Wallets

To our Yetis: You’re not just testers - you’re co-builders. Every transaction, liquidation, and UI tweak brings us closer to a refined liquidity layer built by and for BTC holders.

Yala Protocol Developments

While the market snoozed, Yala devs built. February’s advancements are a BTC holder’s yield playbook:

1. DeFi Marketplace Development Begins 

We’ve started building Yala’s DeFi Marketplace – a one-stop hub where BTC-backed $YU flows into partner projects like Pendle for yield and Berries. It’s all about channeling Bitcoin liquidity into DeFi, with mainnet on the horizon.

2. Institution Mode Take Shape 

Teaming up with custodians like Anchorage and Cobo, we’re forging Institution Mode. Using time-lock scripts, it offers secure, high-yield vault management for big players – unlocking BTC’s potential while keeping holders in control.

3. Stability Pool Will Go Live

Our liquidation backbone is ready. The Stability Pool lets BTC holders stake liquidity, earning YBTC, $YU and Berries from liquidations. Yield meets stability, powered by Bitcoin.

4. Convert Function & Peg Stability Module (PSM)

The Convert function (swap USDC for $YU, zero slippage) and PSM (USDC reserves stablizing $YU and funding RWAs) wrapped development and hit quality assurance. $YU’s peg stays tight, opening BTC to more yields.

5. Berries Boost Loyalty

New features will reward $YU holders with Berries, tying BTC liquidity to long-term gains. Set for mainnet, it’s a nod to those who fuel Yala’s ecosystem.

6. Testnet V3 Launching Soon

 Testnet V3 is almost locked and loaded! UI upgrades – like enhanced MetaMint YU options – cleared testing. More tools, more yield, coming your way.

7. Mainnet Gears Up

We’re racing toward mainnet with liquidity strategies, security audits, and backend optimizations in high gear. Yala is ready to deliver BTC-powered yield – securely and seamlessly.

Community Growth & Initiatives

While coders coded, our community conquered.  February amplified outreach and vision: 

1. Four Pillars Spotlights Yala

One of Korea’s leading Web3 research institutions, Four Pillars, dissected Yala’s role as a BTC liquidity layer. From infrastructure to RWAs, their report hails our impact on BTCFi. 

2. CoinMarketCap Debut

Yala is live on CoinMarketCap – a global stage for BTC holders to discover our yield mission. Mainnet’s buzz is building.

3. Bitcoin Liquidity Series

Our thought leadership series lit up with @Bartjh1107, Chief Strategy Officer of pSTAKE Finance:

"Why is BTC staking important? Unlike Ethereum, Bitcoin has historically lacked a native yield mechanism." – @Bartjh1107

These conversations are shaping the future of BTCFi.

4. ETH Denver Impact

We wrapped our February with our presence at ETH Denver, one of the biggest event for the regenerates:

• Co-hosted an exclusive side event SVM Night - ETH Denver, with Solayer, teasing cross-chain yield for BTC (Ethereum today, more tomorrow).

• At Nubit’s The Golden Age of Bitcoin event, Our co-founder and CTO Vicky gave a keynote to emphasize Yala’s mission to unlock Bitcoin liquidity and transform BTC into a productive asset within DeFi.

• Vicky also rocked the DeAI Summit:

“DeAI agents will devour the world as we know it, transforming centralized systems into distributed intelligence networks that operate beyond traditional boundaries.” – Vicky Fu, DeAI Summit

Looking Forward

Mark your calendars – Testnet V3 launches soon! Three months of grit and genius deliver a release packed with rewards for early BTC yield seekers.

Mainnet is on deck. Our team keeps building:

• Market-making liquidity ramps up
• Cross-chain bridges spark to life
• Tokenomics get refined and battle-tested

March is the dawn of Yala’s mission to make BTC the king of yield across DeFi and RWAs. Stay bold. Stay decentralized.

About Yala

Yala is a Bitcoin-based asset protocol designed to channel Bitcoin liquidity into multiple ecosystems using $YU. With Yala, users can deposit BTC and mint $YU natively to be utilized across the broader DeFi space. This unlocks Bitcoin’s liquidity and provides users with various yield opportunities across ecosystems.

In short, Yala enables BTC holders to earn yields and securely move liquidity across ecosystems, chains, and protocols.

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