YALA Testnet Airdrop: Full Step By Step Tutorial on How to Farm
Defi Edwin
about 1 month ago
The summaries and transcripts on this page are generated with AI technology and may not perfectly represent the content of the video. Please use the information as a guide only.
Executive Summary
- Core Functionality: Yellow is a DeFi protocol focused on Bitcoin-backed stablecoins, with its flagship product, $YU, a Bitcoin-collateralized stablecoin pegged to the US dollar. It aims to provide stability for transactions and yield generation in DeFi.
- Recent Updates: The testnet version 3 (V3) is live, offering opportunities for both new and experienced users to participate and earn rewards.
- Reason to Farm: The project is backed by Polychain Capital, a significant investor in the crypto space, indicating strong potential. Participants can earn "berries," which will later be converted into $YU tokens during the airdrop.
- Participation:
- Claim Test Tokens: Users need Ethereum Sepolia and Bitcoin testnet tokens (facets) to interact with the testnet. These can be claimed for free or purchased for faster progress.
- Deposit and Mint: Deposit Bitcoin testnet tokens to receive $YBTC, then mint $YU stablecoins.
- Stake and Earn: Stake $YU in the stability pool or provide liquidity on Uniswap to earn more berries.
- Complete Tasks: Engage in Galxe tasks (e.g., joining Discord, following on Twitter) to maximize rewards.
Key Insights
- The testnet is designed to be accessible, but purchasing test tokens can accelerate progress due to limited free allocations.
- The project’s backing by Polychain Capital adds credibility, making the airdrop highly attractive.
- Daily interactions (e.g., depositing, converting tokens) are crucial for accumulating berries and climbing the leaderboard.
Transcript
Transcript
hello guys edwin here today we are going to be talking about yellow testnet okay so the testnet version 3 just went live okay and this testnet is for everyone okay you can see they stated it here whether you are a newbie or a season pro v3 has something for you okay so everyone can join okay so today i'll be making a tutorial on how to um interact on the yellow incentivize testnet okay so let's read something about yellow yellow is a d5 protocol focused on developing bitcoin backed stable coins it's called products why you it's a bitcoin collateralized the book when soft peg to the us dollar offering stability for transaction and yield generation in defy okay so yellow has raised the total of eight million dollars okay and they are backed by polychain capital okay you can't see um their lead investors is polychain capital and if you see polychain capital backing a certain project you know the a job is going to be good you know right you can do some research about polychain capital okay so before we start you are going to need a lot of facets okay test tokens they are not real they are called facets okay you are going to need a lot of them because this is a bitcoin testnet and you need a lot of um facets okay so we have to claim ethereum superior first okay head to alchemy and claim ethereum superior okay you paste your wallet address when you come here just paste your wallet address okay your metamask wallet you paste it here okay i already claimed so i can't claim again i'm just going to show you how to do it copy your metamask wallet address you paste it right here and click on send me ethereum and to do this you need to have a minimum of like just three dollars okay a minimum of three dollars on your ethereum wallets okay not test token these are real fans and they are not going to be spending that money okay it's just for preventing bots okay so just hold some amount of ethereum on your metamask wallet okay just three dollars so when you come here you paste your metamask wallet click on send me ethereum okay if you wish to buy more sepolia you can also come here okay you come to testnetbridge.com slash sepolia i'll be leaving all the links in the description below okay so when you come here you can deposit um some funds if you have funds in your wallet just choose you can select whether it's from the main ethereum chain if you have funds on optimism you can select optimism if you have funds on arbitron you can also select arbitron this is my favorite because the glass is very cheap okay so deposit one dollar on arbitrum or optimism okay just buy from bybit, binance, any exchange of yours and send ethereum on the arbitrum network okay so you send ethereum on the arbitrum network to your wallet okay so when you come here you just do this max okay you can see look at this this is the arbitrum i have and this is giving me two ethereum okay so if i see it's a lot it's not even up to a dollar okay this is less than i think this is less than 50 cents okay so you come here just click on transfer and the sepolia will be sent into your wallet okay so after we have claimed our sepolia tokens you need to get some bitcoin testnet tokens okay since the one provided by yalla is very little okay and we need to um get a lot of bitcoin testnet tokens to rack up the leaderboard faster okay so you have to come here earthquake okay when you come to earthquake you have to buy some abacs from any exchange okay you can buy a box from any exchange of your choice okay just buy a box from um bybit you can buy as low as one dollar or even 50 cents okay let me show you so when you buy a box send a box to your wallet address okay just send a box to your wallet address using the have a chain okay on your bybit you can all do this i know you can all do this okay if you can just comment below and i'll help you okay so you buy a box and copy your wallet address and you send a box from any exchange of your choice to your wallet address using the a box network okay so after doing that come to earthquake you click on this okay so we want to swap a box okay we want to swap some a box to bitcoin testnet token you select the bitcoin testnet 3 okay so after doing that you need to paste your bitcoin testnet wallet okay and you can use your okx wallet or your unisat wallet i prefer unisat wallet okay so make sure you download unisat wallet extension okay after doing that after you download your unisat wallet extension click on settings okay click on address type okay and select the taproot address make sure you activate it as a taproot address okay now go back after you have done this just copy this address here okay copy this address and you paste this right here okay let's paste this address okay so we paste this and click on open trade so right here we are going to be buying bitcoin testnet tokens okay okay so after placing your bitcoin wallet address you'll be taking to this page okay and a wallet address is going to be generated for you copy this wallet address right here okay copy on your clipboard okay and guys you can skip this if you don't want to buy the btc or buy the ethereum i'll be leaving um links for free claiming okay but they are not much that's why i'm showing you this method okay this is what i use i buy the test tokens to get more berries on yellow faster okay so you copy this address you open your wallet i use the real wallets which is very fast okay so you click on send you want to send a box okay let's look for a box here okay so you can see i have my box here i have this 92 cents okay so let's case there address here okay i want to buy 0.00 0.005 okay now let me do it 0.00 0.00 points 0.00 um so it's okay okay 50 cents confirm okay let's sign and send okay so we wait for um our transaction to complete okay so after the transaction is completed your bitcoin testnet tokens will be sent to your address okay and like i said guys you can't escape this this is not compulsory okay but if you want to mine berries very fast you need to buy them because the yellow facets are very little okay i don't know why they gave us so little okay so we have to wait for our transaction to complete okay so after sending the avax from your metamarkes wallet or your evm wallet to the address provided you have to wait a little okay about two to three minutes okay for the transaction to finalize okay you can see we bought um zero points that was 50 cent we got 1.5 btc okay so that's all for the facets claiming okay now let's go ahead and head into the testnet interaction okay so after we have claimed all the necessary facets we need to come to the um test nets okay dashboard this is the testnet dashboard and this is the onboarding tutorial okay there's a simple onboarding guide here you can just follow it okay you follow it you claim the facets okay let's go ahead and claim facets this is the bitcoin facet okay so you connect your bitcoin wallets make sure you connect your bitcoin wallets connect your ethereum wallet okay connect your bitcoin wallet or your ethereum and your ethereum wallets so like i said you open your unisat you go to settings and you activate taproot okay so after that you just come here you click on this you claim bitcoin facets okay you get 0.001 and sometimes this facet take a lot of time to arrive in your wallet okay that's why i prefer you buy okay but i'll be leaving links in the description you can claim some facets for free okay so after claiming your bitcoin facets you come here you wait for the capture to verify there's a capture right here okay you just wait a little for it to verify and you click submit to be sent into your wallet after claiming your bitcoin facets you come to this other one you claim um ethereum you have the ethereum already okay you have i'm sure most of you have the poly already okay so you can claim ethereum and usdc okay so you can here you wait for the capture there's a capture right here it's loose right under this okay so you wait you click on submit and the why usdc will be sent to your on metamask wallet okay so after claiming all these facets you come to metamask wallet okay you come to metamask wallet okay and for the bitcoin testnet tokens you bought let me show you how you are going to see them they will come into your wallet okay you open your unisat wallet so you open your unisat wallet you can see this is mine the one i just bought from alt quick okay make sure it's always on bitcoin testnet okay so it's the bitcoin i bought with the abax to deposit you just click on this green icon here okay so you deposits i want to deposit 0.5 0.5 okay so i click submit confirm your wallet okay for every deposit every deposit takes five to ten minutes okay so when you you deposit you have to wait a little okay so let's go ahead and confirm this in our wallet okay so um our bitcoin has been deposited and we are going to be getting the ybtc okay after you deposit your bitcoin testnet to the yala testnet you get y btc okay so yala btc you understand i already have 18 bitcoin testnet tokens okay and this is equivalent to the current bitcoin pride but they are not real you understand okay so after we do that we need to mint some yu okay you need to mint the yu okay the yala stable coin which is the yu okay so let's mint some yu i want to mint let's say one bitcoin okay okay so you click one you enter the amount you want to mint here you come to them you come here and click max okay let's create a vault okay so after we mint our yu um we need to go ahead and take some of the yu we can convert some of the yu to um yu sdc okay so you stick you earn berries okay the berries are what will be converted to the um yu um yu token when they do the airdrop okay so click on okay okay so like i said you deposit the bitcoin you bought if you didn't buy it and you have the fastest just go ahead and deposit okay the minimum deposit is 0.002 okay you deposit it comes here okay you deposit bttc and get the yellow bttc okay so after doing that you just come here you enter the amount you want to mint okay and when you are minting don't use all your bitcoin test net tokens okay make sure you divide them okay so let's say you have 10 you mint five okay you convert five to yu okay and leave five yb cc okay so you you just have to separate them because you are going to be using um the other ones to provide liquidity on portfolio section and the end section okay so after doing all this head over to end section click on stability pool okay so when you get here you need to deposit okay you have to deposit the wire you minted you can see you minted some why you here okay so after you mint your why you click on stability pool deposits okay you deposit and you come here you claim i think you claim hourly okay so you come here you click on deposit more okay you can see we have 73 000 while you in our wallet okay the one we minted so let's deposit about i'll go ahead and deposit 50 000 okay so click deposits okay so we just deposited 50 000 while you into the stability pool okay so every time you get some while you just come here you deposit more if you want to withdraw you can also withdraw okay and also withdraw some of your um your pool okay you just withdraw okay you come here you withdraw you'll be earning um yield okay you'll be earning yield here and you can also end why you buy depositing in the stability pool okay so this is what they just added to the um testnet version three okay so and you are no leaks you are no late because it's version so you don't think you are late okay so after doing this you need to also convert we convert some of our why you to usdc okay so let's go here click on convert and let's convert some of our why you okay sometimes you are going to be facing issue you can see i have why you but it's not loading okay just keep trying you can see it's not watching okay so just come here let's say you want to swap um 300 dollars okay so you can see my why you is not showing because i don't know it's a test net and you are going to be facing errors a lot of times so just come here you swap okay it's showing now you can see how why you is showing now okay so we just enter the amount you want to swap so i'll be swapping 300 yu into yu sdc okay if i swap 300 yu i'll be getting 300 berries okay let's go ahead and convert okay so you can repeat this step to earn more berries okay so we converted 300 yu to 300 yu sdc okay so i'll be getting 300 berries for doing this okay so after doing this you have to go to portfolio okay let's go to portfolio and let me explain to you okay so on your portfolio you can see the amount you have to consider so far okay this is the worst we created okay we double set one btt and we got 72 000 yu okay so when you come to portfolio navigate to stake lp token okay stake lp token when you get here just click on here look at this button right here this highlighted here okay on your left click on it when you click on it you are going to be taking to uniswap okay uniswap testnet when you get to uniswap make sure you click on your wallet address okay after clicking on your wallet address click on the settings icon okay click on a settings icon and turn on testnet mode okay so after turn on testnet mode you go ahead and create a liquidity pool okay when you click here everything will be set for you okay you create a liquidity pool between the yb cc and the yu okay let me go ahead and show you okay so you can search for yu right here let's go ahead and search for it okay so you can see there are a lot of yus here let's go ahead and swap okay we go ahead and swap to this yu okay you select this yu a1c okay so you don't even have to worry about this when you click on this link they just bring you here okay you can just create your pair here just click on continue okay and enter the amount you want to stick okay you can see i have 17 btc okay the one i deposited into my yala okay you can see it here which is also right here okay so uh you want to create a pool and like i said don't deposit all your tokens when you are mentioning your why you need to split them this is why i said you have to split your yu okay so you can see i have 22 980 yu okay let's just click on max okay just set the amount you wish to deposit okay so after clicking on max let's go ahead and create a liquidity pool create okay so our pool has been created okay and make sure when you are creating the pool make sure you select v2 okay v2 at the pool you can um add more liquidity you can remove liquidity okay so and after creating your pool just head back to the portfolio okay you head back to your portfolio scroll down and click on stick lp token okay let's go ahead and stick what we just created click on max okay stick confirm in your wallets okay so when you stick your why you you'll be earning more berries okay this is how you earn more berries okay and rank out the leaderboard faster okay so you stick more while you every time you get btc okay you can also um check your leaderboard this is the leaderboard you can also check here you do your daily checking okay and they have a gauzy task too okay i'll be leaving all the links in the description let's go ahead and you and it's taking okay so we just take our lp tokens okay so you just create a pool on uniswap you come to your portfolio and you stick okay come here you stick all the time every time you get assets just come to uniswap you create a liquidity pool okay you stick them okay so after that head over to the berry board so here you can see your rank okay you can see your rank you can do your daily check-ins right here okay you can also invite your friends so after doing all this we need to complete the gauzy task okay complete the gauzy task join the discord follow um yala on um twitter okay and let me show you another trick if you don't want to buy um the btc and you have a lot of ethereum superior you just come to a swap you turn on testnet mode and swap ethereum superior to ybtc okay so you come here you enter the amount of superior you want to swap let's start to swap okay okay you can just come here directly and swap on your ethereum superior to both ybtc and the yu okay so just if you don't want to buy btc and go ahead and do everything straight on uniswap you can just do this okay so i also swap to yu right here okay you can swap to yu right here this is why you okay this is the elastic book when you swap you can swap your ethereum superior to ybtc and there why you okay so after we have done all this we need to go ahead and complete the gauzy task okay so let's go ahead and do that okay so after we have made all our testnet transaction we need to come to gauzy and complete the yala task okay just earn complete by following them you watch the youtube video a very short video okay join the yellow telegram you join the discord okay this is the yalatest net you read the docs okay the quiz answer i'm providing the answers to the quiz in the description below okay so that's all for now and make sure you do this daily okay i'll be leaving all the links in the description for free facets the ones you want to buy if you wish to buy okay so you can buy fast you can claim some for free and you deposit them all the time okay you just can here you deposit your btc okay you come to um you deposit your btc you obtain the ybtc okay so after doing that you just mint your yu okay yes mint your yu entire amount you want to mint mint your yu and click on create vault you come to your portfolio and you stick lp token okay you stick the lp token you click here create your liquidity pool okay so you come to end section you come to stability pool you can deposit some of your why you you minted into the stability pool you can also convert tokens okay convert tokens back and forth okay so convert um your usdc on yala to yu and you convert it back again okay so every compassion is like one one y bit one y usdc gives you one y okay so the more you convert the more berries you earn okay make sure you accumulate a lot of berries okay the berries are going to be converted to um the yala token okay i didn't join yala very early okay and when i joined late too i couldn't get facet until i started to buy okay so this is from last month and my rank is um you can see my ranch right here this is my rank okay so i'll be depositing all these 17 bitcoins into my vault to mine more berries okay make sure you are able to accumulate a lot of berries come here every day and do your daily checking okay so that's all for now make sure you comment below if you face any issues join our telegram which is very important okay i answer all your questions um on the telegram okay so cool thank you for watching make sure you like and subscribe peace