Yala Announcement: $YU Liquidity Restored, Incentive and Loyalty Programs Launched Simultaneously
ChainCatcher reported that Yala has announced the completion of major remediation measures for the September 14 attack incident.
According to the announcement, all unauthorized minted $YU have been destroyed, liquidity has been restored, and $YU has returned to its peg. Users can use the Convert function to exchange USDC at a 1:1 ratio, and the cross-chain Bridge function has also resumed operation.
In terms of incentives, Kamino incentives are now live, while incentives and bribes for Euler, Pendle, and others will be launched gradually over the next 1–2 days. Meanwhile, Yala has launched the “Double Berries” loyalty program, which will run until December 8 (the snapshot date for Season 2 airdrop).
For users whose cross-chain transfers have not yet arrived, Yala has opened a compensation application form, and reviews and compensation are expected to be completed within 1–4 weeks. Yala stated that the protocol’s security mechanisms have been upgraded and will operate with greater stability in the future.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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