Yala Finance 

Join Yala V3 Testnet

If You Are a New User:

1. Open the Yala website and click “Launch App” on the first page.
2. In the app, click the “Connect Wallet” button in the upper right corner to connect your BTC wallet.
3. Ensure you are using the Bitcoin Testnet environment. In the Unisat wallet, you can do this by clicking on the upper right corner and selecting "Bitcoin Testnet".
4. Use a Taproot address. For instance, if you are using a Unisat wallet:
   a. Click the “Settings” button at the lower right corner of the wallet extension.
   b. Select “Address Type,” then choose “Taproot (P2TR)” as the address type.

Connecting Destination Chain Wallet:

1. After connecting your Bitcoin wallet, click the “Connect Destination Chain Wallet” button in the upper right corner of the protocol page.
2. Sign in to your wallet and ensure it is connected to the desired Testnet network for the destination chain. For example, in MetaMask, you can check your network by clicking the network name in the upper left corner.

If You Are a V2 User:

1. Close Your V2 Vault:

   • Navigate to the Position Details page and select Close Vault.
   • Ensure you have repaid all outstanding debts, including any accrued interest.
   • If you don’t have enough YU to cover the repayment, use the Swap function in V2 to obtain YU.
   • Learn more about closing vaults here.
     Note: Due to price fluctuations, your collateral ratio may be insufficient to close the vault. To meet the requirement and retrieve your YBTC, you can either repay some YU or deposit additional YBTC.
     Alternatively, if you prefer not to close your vault, you can use the Swap function directly, as the YBTC contract remains unchanged. You can then use the swapped assets to interact with V3.

2. For Users Who Staked YU in Uniswap:

   • First, unstake your LP tokens.
   • Then, remove your liquidity from Uniswap.
   • After that, proceed to close your vault and retrieve your YBTC.

3. Switch to V3:

   • Select V3 at the top of the page.
   • Reconnect your wallet for a smooth experience.

MetaMint $YU

MetaMint is a process that allows you to turn Bitcoin (BTC) into $YU. This guide explains how to stake BTC and mint $YU.

Step 1: Staking BTC to Get YBTC

To mint $YU, you first need to stake your Bitcoin (BTC) and convert it into YBTC, a wrapped Bitcoin token that can be used to mint $YU.

Steps to Obtain YBTC:

1. On the MetaMint $YU page, click on the upper right button, which displays your current YBTC balance.
2. Enter the amount of BTC you want to stake in the provided input box.
3. Review the exchange rate, transaction fee, and estimated confirmation time. For security reasons, our confirmation requires 6 blockchain confirmations, which may take up to 60 minutes. The transaction fee is 0.0003 BTC for staking.
4. Click the Submit button to initiate the staking process.
5. Approve the transaction in your BTC wallet.
6. Wait for the staking process to complete. Once confirmed, your staked BTC will be converted into YBTC and reflected in your YBTC balance.

Tip: To view your transaction details, navigate to the "In And Out History" under the Portfolio page. However, please note that your stake or unstake will be shown in this section after 5 to 10 minutes of your submission.

Step 2: MetaMint $YU using YBTC

After you obtain YBTC, you can use it to mint $YU.

1. Enter the amount of YBTC you want to deposit. The maximum amount of $YU that can be minted will be displayed. You can enter the $YU you want to mint under the Value tab. Alternatively, use a slider to choose a Collateralization Ratio to mint the corresponding amount of $YU under the Percentage tab.
2. Ensure that the collateral ratio after depositing $YU meets the minimum collateral requirement. You can view the collateral ratio of your entered value in the "Vault Changes" panel. Additionally, the minimum deposit amount for $YU is 1,800. If your BTC balance is insufficient to mint 1,800 $YU, deposit more BTC as indicated on the page.
3. Click on "Create Vault."
   • For first-time users, you will need to approve YBTC allowance spending. We strongly recommend approving a larger YBTC spending amount based on your anticipated needs to ensure future convenience and avoid unnecessary gas fees each time you approve.
4. Confirm the transaction in your destination chain wallet and wait for the vault to be created.
5. Once the process is complete, the $YU token will appear in your wallet’s destination address. You can also check your transaction history by visiting the 'Portfolio' section under 'Transaction History'.

Note: To ensure proper display, add the $YU token to your wallet.
Under extreme circumstances, if the liquidation process exhausts all YU liquidity from the Stability Pool, a redistribution process will occur. In this process, the system may allocate a portion of YU debt to your vault based on your share.

Earning Berries

Regular Task Points:

• Connect Wallet & Get Testnet Coins:

  • Earn 10 Berries for connecting your wallet for the first time.
  • This reward is limited to one-time per wallet.

• MetaMint and Staking LP Tokens:

  • Depositing BTC for YBTC: Earn 30 Berries for every 0.001 BTC deposited, rewarded after 24 hours.
  • Opening Positions with YBTC: Earn 1.2 Berries per 0.001 YBTC/hour. The first 24 hours count, but earnings are forfeited if withdrawn during this time.
  • MetaMint $YU: Earn 0.06 Berries per $YU/hour. Similar withdrawal rules as YBTC.
  • Staking LP Tokens: Convert LP tokens to $YU-equivalent and earn 0.04 Berries/hour per $YU. Rewards are delayed by 24 hours after balance changes.

• Follow and Engage on Twitter:

  • Follow Yala on Twitter: Earn 10 Berries. One account per wallet.
  • Engage on Twitter: Earn 1 Berry per like/retweet (max 10 per day for each).

• Daily Check-in:

  • Earn 1 Berry daily by checking in via the "Berries & Leaderboard" page. Resets every 24 hours.

• Submit Feedback:

  • Earn 10 Berries per submission (max 5/day). Feedback must be at least 30 words with one screenshot.

• Stability Pool:

  • For every 1 YU you stake into the Stability Pool, you earn 0.03 Berries/hour.

• Convert:

  • For every 1 USDC you convert into YU, you earn 1 Berry.
  • The portion exceeding 100,000 YUSDC does not generate Berries.

Referral Program

You can boost your Berry count by referring others to Yala. Here’s how it works:

1. Refer a Friend: When someone joins Yala using your referral link and starts earning Berries through regular tasks, you will automatically earn 18% of the Berries they earn.
2. Share your unique referral link with friends or within your network.
3. Ensure the referee uses the correct referral link when signing up and connecting their wallet. You can earn Points if you complete tasks on the same blockchain as the referral link.
4. Your Berry balance will increase by 18% of your friends' task rewards as they complete tasks and earn Berries.

By referring others, you help expand the Yala community and significantly increase your own Berry count, climbing higher on the leaderboard and unlocking more rewards.