YU is a Bitcoin over-collateralized stablecoin developed by Yala. Soft-pegged to the U.S. dollar, YU allows users to access DeFi liquidity without selling or wrapping their BTC holdings. By depositing Bitcoin, users can mint YU, maintaining BTC exposure while leveraging stable liquidity across different protocols to generate yield. Positioned as a bridge between Bitcoin and DeFi, YU enhances the utility of BTC within decentralized ecosystems.
In the past 24 hours, YU has dropped by %7.98, ranking among the day’s losers. Following the recent exploit that caused its stable peg to collapse to as low as $0.20, investor confidence in the project may have been shaken. The fact that the attacker still holds a large amount of YU could have also added to the selling pressure.
