harecrypta

💥 DEEP INTO YALA TESTNET 💥

Yala is a lending protocol for the Bitcoin ecosystem. 

This month, the project attracted $8 million in investments from Polychain Capital, HashKey Capital, Galaxy and others.

A few days ago, the project team announced the launch of its testnet, in which users are invited to make deposits, manage their positions and throw YU tokens into betting to earn points.

what to do? 

1. Go to the website and open the Unisat wallet, having previously selected the Bitcoin Testnet network and the Taproot wallet type (P2TR);
https://app-testnet.yala.org?inviteCode=P6D8c7JnbY

2. Next, click on Connect Destination Chain Wallet and connect Metamask to the Sepolia network;

3. We request test tokens in BTC (or here) and ETH faucets;
https://app-testnet.yala.org/faucet
https://app-testnet.yala.org/faucet/indexETH

4. In the MetaMint YU tab, we make a BTC deposit and receive YU tokens, in an equivalent ratio to the deposit;

💥 TESTNET YALA 2.0 💥

Earlier we wrote about the Yala testnet, a lending protocol for the Bitcoin ecosystem.  
https://warpcast.com/renatov.eth/0x5e43010b 

The project attracted $8 mln in investments from Polychain Capital, HashKey Capital, Galaxy and others.

Yesterday, the project announced the launch of Yala Testnet v2, the next stage in the development of the platform. This update includes enhanced features, new features and an optimized user experience, providing a glimpse into the future of Bitcoin DeFi. 
https://x.com/yalaorg/status/1864670369824604305

🧵 👇

2/ 
What's new?

1. Advanced staking options

- Staking and unstaking functions: Users can now deposit tBTC to receive YBTC and withdraw YBTC to receive tBTC in a 1:1 ratio;
- Removing YU staking: you can no longer earn Berries for YU staking, previously staked tokens can be withdrawn;
- Rewards: For every 0.001 BTC deposited to receive YBTC, 24 Berries are credited. 

2. Uniswap Integration

- You can add liquidity to Uniswap and receive LP tokens;
- These tokens can be staked on Yala to receive additional points and rewards;
- Rewards: 0.04 Berries per hour are awarded for every $1YU of the value of a staked LP token.

Read more in the official article.
https://blog.yala.org/introducing-yala-testnet-v2/

🧵 👇

Founder of /harecrypta community, build /hareai /harma
https://t.me/HareCrypta_lab_ann

3/
what to do?

1. If you are not registered in the testnet yet, do it. By registering using the referral link from Harecrypta, you will receive at least 22% of your number of Berries every 3 days. 
https://app-testnet.yala.org/?inviteCode=P6D8c7JnbY

2. If you have already done activities in the testnet, and you have $YU in betting, we output them: Portfolio > Stake YU > Withdraw. 
https://app-testnet.yala.org/portfolio

3. In Portfolio > Positions, we close our old positions to exchange $YU  for $YBTC . 
https://app-testnet.yala.org/portfolio

It is not profitable to do it through the "Swap" button. Next, we make a deposit of a certain amount of $YBTC here to get $YU again.

4. Alternatively, we will deposit $tBTC  from Unisat to receive $YBTC  for the next steps.

🧵 👇

4/ 

5. Go to Uniswap and create a position in the YBTC / YU pair 
(you need to select "v2 position"), enabling the display of test networks in the settings. 

https://app.uniswap.org/positions/create

Token Contracts:
YBTC 0xBBd3EDd4D3b519c0d14965d9311185CFaC8c3220
YU 0xcB856bC5Aa2664E47c9caDce6fF65117c5201a1C 

6. We throw the LP tokens received for liquidity into the stake: Portfolio > Stake LP Token.
https://app-testnet.yala.org/portfolio

7. Do not forget to make a Daily Check-in in the Berries & Leaderboard tab.
https://app-testnet.yala.org/berries

Berries are still a key element of the Yala Testnet ecosystem. The more Berries we earn, the higher the ranking in the leaderboard and the more rewards we receive.

🧵 👇