Layer 3 Foundation Launches Testnet of Its P2P Yellow Clearing Network

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Blockchain-based fintech company Layer 3 Foundation has just launched the testnet program for its clearing system Yellow Clearing Network.

The company has been working hard to create innovative financial solutions, including the $YELLOW token.

According to the press release, the first step will be Yellow’s closed beta testnet, which will go live on Duckies, Yellow’s Canary Network, and whose native token is $DUCKIES.

The closed testnet, which will reportedly open on January 22, 2024, and continue until April, will include opening and closing of clearing channels with counterparts, off-chain market trading and settlement of trades using blockchain escrow swaps, among other things.

The testnet launch will allow Layer 3 Foundation to have access to valuable metrics, uncover vulnerabilities, and refine the platform for a wider audience. Users interested in taking part in the closed beta can submit their application at yellow.org/canarynet.

The company is looking for users with a basic understanding of financial markets, experience in participating in testnets, and influence within small communities.

It should be noted that Yellow Clearing Network uses ClearSync^TM, a protocol that frees traders from counterparty risk.