🧐 Financing Announcement | Yala's $YU: A new era of Bitcoin liquidity and the infinite possibilities of DeFi——
Congratulations to @yalaorg for raising seed funding led by @Polychain and @EtherealVC.
Follow-up investors include Galaxy, Anagram, Amber Group, etc.
Yala has been paying attention to the liquidity release of the Bitcoin ecosystem for a long time.
What’s interesting is that I just saw the financing announcement and their lead investor completely overlaps with the lead investor in EigenLayer’s seed round in August 2022.
The future value of Bitcoin will be infinite. The ultimate goal is to open up possible directions for human economic development and build a new monetary system that can solve the financial crisis.
Therefore, the BTC market actually has strong market demand and hype characteristics. Once the amount of funds behind BTC is leveraged, the chain market will be reshuffled.
Especially in this cycle, how can we make the Bitcoin in our hands have better returns in terms of currency standard in addition to its own increase? Is there a safe protocol that can release the potential of Bitcoin in our hands? Can Bitcoin interest be made safe and sustainable? These have become topics that big investors like to discuss;
Yala @yalaorg is an asset protocol built on Bitcoin that aims to expand Bitcoin liquidity to multiple ecosystems through its stablecoin $YU.
Here is a detailed explanation about Yala and $YU:
1️⃣What is Yala?
Yala is committed to expanding the utility of Bitcoin beyond its traditional role as “digital gold” and exploring the potential of decentralized finance (DeFi).
The core products of the project include:
- Overcollateralized stablecoin $YU:
The stablecoin is generated by over-collateralizing Bitcoin, and the infrastructure is not only based on the Bitcoin native protocol, but can also be freely and securely deployed in EVM and other ecosystems.
- MetaMint：
The core component of $YU enables users to easily use native Bitcoin to mint $YU in various ecosystems, injecting Bitcoin liquidity into these ecosystems.
- Insurance derivatives:
Providing comprehensive insurance solutions within the DeFi ecosystem to create arbitrage opportunities for users.
2️⃣ $YU Stablecoin:
$YU is a stablecoin launched by the Yala project. It is generated through Bitcoin collateral and can be deployed in Bitcoin native protocols, EVM and other ecosystems. It is based on Bitcoin's UTXO framework, has security, and can earn income natively on multiple chains.
$YU is designed to be both a powerful asset and a liquidity enhancer, allowing users to mint $YU with Bitcoin in different ecosystems, simplifying the operational process; it aims to improve efficiency without bridging or moving the underlying Bitcoin assets.
The uses of $YU include but are not limited to trading and savings, participating in DeFi activities to earn income, using it in DeFi without selling Bitcoin, and introducing Bitcoin liquidity into various ecosystems.
3️⃣Project goals:
Yala's vision is to maintain the security of Bitcoin infrastructure while
Enhance the utility of Bitcoin holders and ecosystem participants through $YU, and introduce Bitcoin liquidity into various crypto ecosystems;
Allow Bitcoin holders to earn additional income through DeFi while maintaining the security of their assets; expand the use cases of Bitcoin from storing value to more financial activities.
Overall, there are great opportunities in the Bitcoin stablecoin market, and Yala has a potentially huge market with its innovative Bitcoin DeFi solution.
Especially this round of financing, Yala is expected to gain a foothold in the field of cryptocurrency and BTC DeFi. The test network launch is approaching, so we can continue to pay attention.
