Tomo Wallet Integrates With Yala, A Project Connecting BTC Liquidity With $YU Stablecoin
At Tomo, we’re actively collaborating with leading protocols to provide the best offering to our users. To this end, we’ve partnered with Yala, a project that connects Bitcoin’s liquidity with a meta-yield stablecoin, $YU.
Yala is integrating Tomo Wallet into its interface for seamless BTC payments within the Yala platform.
Tomo Wallet-Yala Partnership: Making BTC Payments Simpler For Users
Yala’s DeFi Protocol Yala Finance is a lending-borrowing protocol that enables users to borrow over-collateralized stablecoins called $YU by depositing BTC or other UTXO assets. The Yala stablecoin, $YU, serves as a potent asset and liquidity enhancer that connects Bitcoin across all DeFi apps.
Users can utilize their $YU tokens to generate additional yields from DeFi protocols by earning interest from these assets. Further, they can provide liquidity, borrow against their collateral, and participate in Yala governance.
Thus, Yala increases the efficiency of BTC without requiring any bridges or relocating assets from the native blockchain. It empowers BTC holders and Bitcoin ecosystem participants to expand BTC’s utility while maintaining Bitcoin-level security.
Yala uses a programmable indexer module facilitating EVM access with its modular infrastructure enhancing BTC composability. Moreover, the protocol provides meta-yield solutions as users can access multiple DeFi apps with a singular deposit from their Bitcoin wallet.
Tomo Wallet’s partnership with Yala will enable users to access the Yala protocol in a simple and user-friendly manner.
Tomo Wallet is a social wallet where you can use your Google account to log into the wallet. You don’t need to handle or manage your private keys every time to access your wallet.
Now, the Tomo Wallet extension is available in the Google Chrome web browser. Users can simply use their Google Accounts to log in to the wallet and deposit BTC into Yala to get $YU stablecoins.
As a multi-chain wallet, Tomo Wallet supports Bitcoin, Ethereum, Base, Linea, Optimism, Solana, BNB Smart Chain, Arbitrum, BLAST, Polygon, Scroll, and Avalanche. The wallet also offers strong security features with multiparty computation (MPC) and sharded information storage.
The partnership between Tomo Wallet and Yala Finance will empower users to smoothly access the Bitcoin ecosystem using their social credentials.
About Yala:
Yala connects Bitcoin liquidity with a meta yield stablecoin. Designed as both a potent asset and a liquidity enhancer, the stablecoin, $YU, operates across various ecosystems, increasing efficiency without the need for bridges or relocating the underlying Bitcoin. Yala empowers Bitcoin holders and ecosystem participants with expanded utility, all while maintaining the security of Bitcoin’s infrastructure.
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About Tomo:
Tomo is an all-in-one Web3 social wallet designed to bring the mass adoption of crypto. It allows users to log in effortlessly with their social accounts and supports multiple chains, with a particular emphasis on bringing Bitcoin into Ethereum L2, Solana and Cosmos ecosystems.
On Tomo, users can easily manage assets, send crypto to each other, chat, post content, make friends, and participate in token-based interest groups. They can also on-ramp fiat currency with a credit card, trade crypto assets, create Tomojis, and more. Designed to be a comprehensive power app, Tomo meets all your Web3 needs.
Join Tomo, where your social capital is valued!
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