FULLY Free Airdrop Testnet.
The process of liquid staking on Yala is straightforward and user-friendly:
Staking the Original Asset: Users start by depositing their Bitcoin into the Yala Protocol. These Bitcoin deposits are securely stored, using MPC vaults to ensure the safety and integrity of the assets.
Tokenization and Issuance of yBTC: Once the Bitcoin is staked, Yala issues yBTC, a tokenized version of the staked Bitcoin. This yBTC represents the user's stake and is fully backed by the original Bitcoin deposit, ensuring its value is tethered to the underlying asset.
Using yBTC in DeFi Protocols: yBTC can then be used as collateral within Yala protocol, allowing users to access DeFi services such as minting $YU, trading, or participating in liquidity pools across different blockchains like Ethereum, Botanix, and others. This opens up various possibilities for yield generation and portfolio diversification.
๐ซ AIRDROP Link ๐
https://app-testnet.yala.org?inviteCode=r7GOMiLTsW
