The Launch of Yellow Network’s Beta Testnet and Exclusive Incentive Program

The Launch of Yellow Network’s Beta Testnet and Exclusive Incentive Program

Yellow Network, a peer-to-peer Layer3 blockchain platform, has recently announced the launch of its beta testnet, accompanied by an exclusive incentive program. This initiative aims to attract testers who will participate in network activities and receive rewards in return. By addressing the challenges of digital asset transactions, such as counterparty risk and fragmented liquidity, Yellow Network is paving the way for institutional adoption of decentralized finance (DeFi) and traditional finance (TradFi) elements.

As a Layer3 network, Yellow employs off-chain state channels to facilitate trading, clearing, settlement, and compliance activities on a single platform. In order to create a transparent financial system, Yellow connects to multiple exchanges to share liquidity and enables cross-chain collateral and settlements. Incorporating the use of ClearSync, Yellow provides zero counterparty risk for traders by verifying the sufficient capital of each party involved in a trade. Additionally, Yellow operates as a non-custodial platform, with user funds secured in multi-signature contracts and wallets.

To carry out the beta testing phase, Yellow Network will launch its testnet on Duckies, the canary network specifically designed for live test deployments. This allows for rapid experimental innovation and provides an environment to identify and resolve any potential issues. Starting from December 13, Yellow has invited testers to submit their applications for participation. The selected testers will have the opportunity to assess the core features of Yellow Network, including depositing collateral, executing orders, and converting assets on the testnet. In exchange for their feedback and assistance in troubleshooting, testers will receive rewards in the form of $DUCKIES.

The launch of Yellow Network’s mainnet comes at a time of increasing interest in digital assets among institutional market participants. According to a recent survey by Coinbase, nearly two-thirds of institutional investors who are currently holding cryptocurrencies plan to increase their allocations in the coming years. Additionally, approximately 45% of those who are not yet invested have expressed their intention to enter the sector. These statistics demonstrate the growing appetite for digital assets and indicate the potential for institutional adoption of Yellow Network’s platform.

Yellow Network’s beta testnet launch and exclusive incentive program mark an important milestone in the quest for institutional adoption of digital assets. By addressing the challenges of counterparty risk and fragmented liquidity, Yellow aims to create a transparent financial system that combines the best elements of DeFi and TradFi. The launch on Duckies provides an ideal environment for rapid testing and innovation. With the growing investment appetite among institutional investors, the timing of Yellow Network’s mainnet launch could not be more opportune. As the digital asset market continues to evolve, the industry will benefit from the development of robust platforms like Yellow Network that provide secure, efficient, and user-friendly solutions for digital asset transactions.

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