Yala Partners with Polyhedra to Boost Bitcoin Liquidity and DeFi Interoperability
Yala, a pioneering project that enables the seamless transfer of Bitcoin liquidity designed through a meta yield stablecoin, is thrilled to announce a strategic partnership with Polyhedra, the ZK infrastructure that has curated a treasure trove of cutting-edge ZK algorithms that are secure, lightning-fast, and universally compatible. This collaboration is set to revolutionize Bitcoin liquidity across various Defi activities in a decentralized and secure way.
Polyhedra brings to the partnership its advanced zkBridge technology, designed to enhance Bitcoin’s trustless interoperability with other blockchain networks. Through its zkBridge Bitcoin messaging protocol, Polyhedra allows for Bitcoin transaction interoperability, with recipient blockchains verifying Bitcoin block headers and transactions using ZK proofs to ensure maximum security.
Central to this collaboration is the use of Polyhedra’s zkBridge in various staking protocols across multiple networks, where the technology enables fast, trust-minimized interoperability with Bitcoin.
Yala aims to unlock the liquidity of Bitcoin holders by offering multiple earning opportunities, including re-staking our collateral to partners like Babylon for rewards.
In this use case, seamless and safe interoperability with these partners is crucial. By collaborating with Polyhedra, we utilize its zkBridge Bitcoin messaging protocol to facilitate interactions with staking partners on other chains in a decentralized and secure manner. Our users benefit from additional yield while engaging in dual staking across multiple blockchains, significantly enhancing crypto-economic security across these networks.
The collaboration extends beyond the staking space, opening new avenues for Yala to engage in other DeFi activities, such as liquidity mining and more. Yala will continue to explore DeFi opportunities in a decentralized and secure manner with reliable partners in this space.
About Polyhedra
Polyhedra Network is building the next generation of secure, interoperable, and scalable Web3 infrastructure with advanced zero-knowledge proof technology. The team has developed and deployed several next-generation zk-SNARK protocols resulting in performance improvements orders of magnitude faster than existing solutions. Their interoperability solution, zkBridge, connects over 25 blockchains and proves the validity of cross-chain messages utilizing zero-knowledge proofs. Developers building with Polyhedra Network can create secure, scalable, interoperable applications without any additional trust assumptions.
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.
