The Yala Protocol is a cutting-edge DeFi platform designed to bridge Bitcoin liquidity across multiple ecosystems, unlocking new potential for the digital currency. At its core is $YU, a Bitcoin-collateralized stablecoin that maintains a soft peg to the US dollar. By transforming Bitcoin from a store of value into a versatile asset, Yala aims to power decentralized finance and advanced applications within the Bitcoin ecosystem.
Through Yala Finance’s modular infrastructure, users can borrow over-collateralized $YU stablecoins by depositing BTC or UTXO assets. Once acquired, $YU can be used to access and generate earnings from a range of DeFi protocols across diverse ecosystems, enhancing Bitcoin’s utility in decentralized finance.
Yala testnet just launched, time to see how we can position ourselves for a potential airdrop!
Step by Step Guide
Needed
– For this testnet we need an EVM wallet, like Metamask.
– We also need a Unisat wallet.
– Download both wallets and set them up.
– Unisat: https://unisat.io/
– Metamask: https://metamask.io/
Create account
– Visit: Testnet
– Click connect BTC wallet and connect your unisat wallet ( Taproot Testnet )
– Next click the Destination Chain Wallet and connect your EVM wallet ( Sepolia )
Claim Testnet faucets
– Visit: https://app-testnet.yala.org/faucet
– Enter a testnet BTC address that starts with ‘tbtc’.
– Enter the amount. (choose max amount)
– Complete captcha.
– Click “Submit”
– You will receive testnet bitcoin in 30 minutes till a few hours.
– Visit: https://app-testnet.yala.org/faucet/indexETH
– Enter EVM address.
– Enter the amount. (choose max amount)
– Complete captcha.
– Click “Submit”
Mint $YU
– Visit: https://app-testnet.yala.org
– In the value section, enter the amount of BTC you want to deposit.
– Deposit a minimum of 0.001 BTC. The more you deposit, the more you earn.
– Click “Approve” & sign in Unisat wallet.
– In the percentage section, enter the amount of BTC you wish to deposit.
– Select collateralization ratio.
-Click “Create vault” & approve in wallet.
– It takes at least 1 hour to mint $YU.
Stake $YU
– Visit: https://app-testnet.yala.org/portfolio?index=4
– Click “Stake YU”
– In the stake section, enter the amount of $YU you wish to stake.
– Click “Stake” & approve in wallet.
Daily Check-in & Referral
Visit: https://app-testnet.yala.org/berries
Click the check-in button every day to claim 1 berry.
On this page you will also find your referral link.
Copy the link and share with your friends.
Submit feedback
– Click the button in the green area to submit feedback.
– Provide feedback.
– Enter Email.
– Upload a screenshot of your dashboard / position.
– Send feedback to receive points.
Galxe tasks
– Visit: https://app.galxe.com/quest/yala/GCaSPtK3N8
– Complete all social tasks.
– Complete quiz.
– Answers : B,A,A,A,A,C.
– Claim points.
That’s all for now. We hope you find value in this guide.
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=)
Testnet airdrops are my favorites!.
Testnet not allowed in the UK 🙁
nice
Starting!