Today, while chatting with Hashkey's @ jeffrey_hu teacher, we also talked about the @ yalaorg project. Actually, some viewpoints are worth sharing again. Yala's entry point is actually good, Bitcoin is naturally an interest free asset. Whether on Binance, OKX, or AAVE, the interest rate on Bitcoin is consistently below 0.1%. No interest means no cash flow, and one of the main reasons why people can't hold onto Bitcoin is that sometimes they do need cash flow. We need money for consumption, we need money for investment. Occasionally accidentally selling Bitcoin, and the result is that it can never be retrieved again. So, like Yala, being able to utilize idle Bitcoin and turn it into a certain amount of cash flow is actually a kind of necessity. So, Yala's idea of allowing everyone to turn BTC into YBTC and then mortgage it to generate stablecoin Yu is logically to make sense and is in line with human nature. I vaguely remember a legendary bar friend from a domestic forum in 2014, nicknamed 48w Brother, who spent 48w RMB to buy 100 bitcoins and had a very strong faith. However, he collapsed on the eve of dawn and did not withstand his mother-in-law's pressure, still selling Bitcoin for the house. Today, the value should have exceeded 8000w. If there had been a Bitcoin staking loan at that time, he might not have needed to be the protagonist of this poignant story. Then you may ask the second question, why does Yala have the opportunity when many people make similar agreements? The key is still the team. Yala's founder, formerly from Alchemy Pay. The protocol token ACH has successfully been listed on Binance, Coinbase, and Kraken. The payment business itself has also made great progress, and many fiat gateways behind Crypto payments are made by them. In addition, they also have former members from Makerdao and Circle who come to do Bitcoin lending stablecoins, which is indeed within their comfort zone. As Teacher Hu said, their marketing strategies are usually over ten pages long. In addition, because the Bitcoin issue cannot be taken lightly, it is clearly better to have a protocol that independently handles a single Bitcoin lending business than to have a small Bitcoin staking and lending function included in a large and comprehensive DeFi protocol. Because they will focus more of their energy on Bitcoin custody and cross chain security. This viewpoint can also be supported by Yala's highly informative docs documentation, especially the detailed chapters on security. Yala's TGE is coming soon, I hope everything goes smoothly for them.