What Can You Do with Yala Bridge
Yala Bridge is your secure and user-friendly gateway to unlocking the value of your Bitcoin on other blockchain networks. With Yala Bridge, you can overcollateralize your BTC to mint $YU, a stablecoin pegged to the US dollar, on the destination chain. When ready, you can redeem your $YU to receive your BTC back. This flexible system allows you to leverage your Bitcoin holdings while maintaining the ability to reclaim your BTC whenever you need it.
Benefits of Using Yala Bridge
Leverage Your BTC: Convert your Bitcoin into a stable asset (YU) without selling it, allowing you to maintain ownership of your BTC while gaining liquidity.
Secure and Reliable: Yala Bridge ensures your transactions are secure by requiring multiple confirmations before processing.
Easy Redemption: When you’re ready to get your BTC back, Yala Bridge provides a simple and efficient burn mechanism that converts your YU back into Bitcoin.
Fast and Predictable: Both the minting of YU and the redemption of BTC are designed to be completed within an hour, providing quick access to your assets.
What Can You Do with Yala Bridge?
1. Overcollateralize BTC to Mint YU
Yala Bridge allows you to convert your Bitcoin into YU, a stablecoin pegged to the US dollar, by overcollateralizing your BTC. Here’s how it works:
Mint $YU: Send your BTC to Yala’s designated Bitcoin Receiver Address, and mint up to 75% of the BTC’s value in YU on the destination blockchain. YU provides a stable asset that you can use across various DeFi platforms.
2. Redeem $YU to Receive BTC
When you’re ready to reclaim your BTC, Yala Bridge makes it easy:
Burn YU and Receive BTC: If you want to withdraw your Bitcoin, create a burn transaction on the destination chain where you hold YU. Once your YU is burned, Yala Bridge will release the BTC and send it to your specified Bitcoin address.
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