Yala, a liquidity protocol and stablecoin issuer for Bitcoin, has introduced the profitable completion of its 3x oversubscribed seed funding spherical. The spherical was co-led by Polychain Capital and Ethereal Ventures, with participation from outstanding traders, together with Galaxy Imaginative and prescient Hill, Anagram, Amber Group, ABCDE, Ambush Capital, GeekCartel, HashKey Capital, L2 Iterative Ventures (L2IV), SatoshiLab, UpHonest Capital, UTXO Administration, and 280 Capital.
Yala’s group raised an $8 million seed spherical at an undisclosed valuation, funding the enlargement of its engineering, development, and safety groups forward of its mainnet launch. This follows over 2,000 BTC in dedicated deposits from traders.
Yala’s mission is to unlock Bitcoin liquidity by a protocol that mixes stablecoin issuance with multi-chain ecosystems. Its modular structure helps cross-chain deployments throughout EVM-compatible platforms like Ethereum and non-EVM programs like Solana, enhancing Bitcoin composability and driving a related Bitcoin DeFi ecosystem.
Key Traders Spotlight Assist
“Our technique is to spend money on and help founders in constructing an ecosystem pushed by sturdy synergies. By means of its stablecoin, Yala will bridge the gaps, enabling our Bitcoin ecosystem to thrive with strong liquidity”, mentioned the Polychain Capital Crew.“Yala’s strategy addresses the present liquidity hole within the Bitcoin ecosystem. Their first-mover benefit, paired with the wonderful execution pace of the group, will unlock new alternatives in BTC-related DeFi innovation. EV is thrilled to be supporting their journey,” added Min Teo, Managing Accomplice & Co-founder at Ethereal Ventures.
Yala’s Imaginative and prescient
Yala is constructing a modular infrastructure to deploy cross-chain modules, enhancing Bitcoin composability throughout ecosystems. The important thing parts of the Yala protocol are:
- Overcollateralized Stablecoin Protocol: A Bitcoin-backed stablecoin guaranteeing safety and stability.
- MetaMint: Allows minting stablecoins immediately from the Bitcoin mainnet on the vacation spot chain.
- Insurance coverage Derivatives Service: Supplies complete insurance coverage options throughout the DeFi ecosystem.
Yala’s multi-token system goals to spice up Bitcoin cross-chain liquidity, that includes $YU (Bitcoin-backed stablecoin) and $YALA (the governance token of the Yala ecosystem). $YU permits Bitcoin holders to probably earn yields throughout numerous cross-chain DeFi protocols whereas preserving the safety and stability of the Bitcoin community.
“Yala is revolutionizing Bitcoin’s function in decentralized finance,” mentioned Vicky Fu, Yala Co-founder and CTO. “By issuing Bitcoin-backed stablecoins and creating programmable cross-chain modules, we’re not simply enhancing liquidity, however we’re constructing a bridge that connects Bitcoin to the broader DeFi ecosystem, unlocking unprecedented alternatives for innovation and development.”
The Highway to Mainnet
Yala is about to launch its testnet subsequent week, with a number of key developments deliberate:
- Testnet V0: $YU stablecoin issuance and Professional Mode.
- Testnet V1: $YU stablecoin Lite Mode with meta yield.
- V1 Launch: Insurance coverage module and safety upgrades.
- V2 Launch: Governance framework initiation.
Yala’s roadmap focuses on constructing a sturdy liquidity layer that connects Bitcoin to main Layer 1 and Layer 2 ecosystems. Because the group builds momentum towards the mainnet launch, they encourage the group to take part within the upcoming testnet.
About Yala
Yala (https://yala.org/) is constructing a Bitcoin liquidity layer to unlock the total potential of Bitcoin liquidity by connecting it to multi-chain ecosystems. Its modular strategy helps deployments on each EVM-compatible platforms and non-EVM programs, aiming to foster a sturdy and interconnected Bitcoin DeFi ecosystem. Key options of the Yala protocol embody an overcollateralized stablecoin protocol, an insurance coverage derivatives service, and a MetaMint performance, enabling seamless liquidity between Bitcoin and different ecosystems.
Yala, a liquidity protocol and stablecoin issuer for Bitcoin, has introduced the profitable completion of its 3x oversubscribed seed funding spherical. The spherical was co-led by Polychain Capital and Ethereal Ventures, with participation from outstanding traders, together with Galaxy Imaginative and prescient Hill, Anagram, Amber Group, ABCDE, Ambush Capital, GeekCartel, HashKey Capital, L2 Iterative Ventures (L2IV), SatoshiLab, UpHonest Capital, UTXO Administration, and 280 Capital.
Yala’s group raised an $8 million seed spherical at an undisclosed valuation, funding the enlargement of its engineering, development, and safety groups forward of its mainnet launch. This follows over 2,000 BTC in dedicated deposits from traders.
Yala’s mission is to unlock Bitcoin liquidity by a protocol that mixes stablecoin issuance with multi-chain ecosystems. Its modular structure helps cross-chain deployments throughout EVM-compatible platforms like Ethereum and non-EVM programs like Solana, enhancing Bitcoin composability and driving a related Bitcoin DeFi ecosystem.
Key Traders Spotlight Assist
“Our technique is to spend money on and help founders in constructing an ecosystem pushed by sturdy synergies. By means of its stablecoin, Yala will bridge the gaps, enabling our Bitcoin ecosystem to thrive with strong liquidity”, mentioned the Polychain Capital Crew.“Yala’s strategy addresses the present liquidity hole within the Bitcoin ecosystem. Their first-mover benefit, paired with the wonderful execution pace of the group, will unlock new alternatives in BTC-related DeFi innovation. EV is thrilled to be supporting their journey,” added Min Teo, Managing Accomplice & Co-founder at Ethereal Ventures.
Yala’s Imaginative and prescient
Yala is constructing a modular infrastructure to deploy cross-chain modules, enhancing Bitcoin composability throughout ecosystems. The important thing parts of the Yala protocol are:
- Overcollateralized Stablecoin Protocol: A Bitcoin-backed stablecoin guaranteeing safety and stability.
- MetaMint: Allows minting stablecoins immediately from the Bitcoin mainnet on the vacation spot chain.
- Insurance coverage Derivatives Service: Supplies complete insurance coverage options throughout the DeFi ecosystem.
Yala’s multi-token system goals to spice up Bitcoin cross-chain liquidity, that includes $YU (Bitcoin-backed stablecoin) and $YALA (the governance token of the Yala ecosystem). $YU permits Bitcoin holders to probably earn yields throughout numerous cross-chain DeFi protocols whereas preserving the safety and stability of the Bitcoin community.
“Yala is revolutionizing Bitcoin’s function in decentralized finance,” mentioned Vicky Fu, Yala Co-founder and CTO. “By issuing Bitcoin-backed stablecoins and creating programmable cross-chain modules, we’re not simply enhancing liquidity, however we’re constructing a bridge that connects Bitcoin to the broader DeFi ecosystem, unlocking unprecedented alternatives for innovation and development.”
The Highway to Mainnet
Yala is about to launch its testnet subsequent week, with a number of key developments deliberate:
- Testnet V0: $YU stablecoin issuance and Professional Mode.
- Testnet V1: $YU stablecoin Lite Mode with meta yield.
- V1 Launch: Insurance coverage module and safety upgrades.
- V2 Launch: Governance framework initiation.
Yala’s roadmap focuses on constructing a sturdy liquidity layer that connects Bitcoin to main Layer 1 and Layer 2 ecosystems. Because the group builds momentum towards the mainnet launch, they encourage the group to take part within the upcoming testnet.
About Yala
Yala (https://yala.org/) is constructing a Bitcoin liquidity layer to unlock the total potential of Bitcoin liquidity by connecting it to multi-chain ecosystems. Its modular strategy helps deployments on each EVM-compatible platforms and non-EVM programs, aiming to foster a sturdy and interconnected Bitcoin DeFi ecosystem. Key options of the Yala protocol embody an overcollateralized stablecoin protocol, an insurance coverage derivatives service, and a MetaMint performance, enabling seamless liquidity between Bitcoin and different ecosystems.
