Yala Announcement: $YU liquidity has been restored, and the incentive and loyalty program has been launched simultaneously

ChainCatcher news, Yala announced that it has completed the main remediation measures for the attack incident on September 14.

The announcement stated that all unauthorized minted $YU have been destroyed, liquidity has been restored, and $YU has returned to its peg. Users can exchange USDC 1:1 through the Convert feature, and the cross-chain Bridge feature has been restored for use.

In terms of incentives, Kamino incentives have been launched, and incentives with bribes from Euler, Pendle, and others will be rolled out in the next 1-2 days. Meanwhile, Yala has launched the "Double Berries" loyalty program, which will run until December 8 (the second season airdrop snapshot).

For users whose cross-chain transfers have not yet arrived, Yala has opened a compensation application form, and it is expected that reviews and payments will be completed within 1-4 weeks. Yala stated that the protocol has upgraded its security mechanisms and will operate with higher stability in the future.