The Bitcoin liquidity protocol Yala will launch a new token YALA

ChainCatcher news, Bitcoin liquidity protocol and stablecoin issuer Yala announced the launch of a new token YALA. YALA will provide various functions such as stable pool rewards and governance, gradually transitioning to a decentralized governance token. Yala allows users to pledge assets like Bitcoin through the CDP mechanism to issue YU stablecoins. Participants in its stable fund pool can deposit YU to absorb the debts of the liquidation vault, in return, they will receive YALA tokens as well as a portion of the liquidation collateral and stability fees.