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Cryptocurrency News Articles
BitSmiley Launches Bitcoin-Native Stablecoin and Lending Protocol to Reshape the BTC DeFi Ecosystem
Nov 06, 2024 at 08:09 pm
BitSmiley aims to reshape the Bitcoin ecosystem by offering BTC holders the ability to mint bitUSD, an overcollateralized stablecoin that provides real DeFi utility within the Bitcoin network.
Dubai, UAE, Nov. 06, 2024 (GLOBE NEWSWIRE) -- A Bitcoin DeFi Solution: BitSmiley's Overcollateralized Stablecoin and Lending Protocol
BitSmiley aims to reshape the Bitcoin ecosystem by offering BTC holders the ability to mint bitUSD, an overcollateralized stablecoin that provides real DeFi utility within the Bitcoin network. By combining the foundational DeFi infrastructures of MakerDAO (DAI) and Compound (Lending), BitSmiley launches three main products: bitUSD (an overcollateralized stablecoin), bitLending (a trustless lending protocol), and Credit Default Swaps (CDS), a unique derivatives protocol. This platform fills a significant gap in Bitcoin's ecosystem by enabling stablecoins and lending, a vital addition for BTC holders seeking secure, transparent, and efficient DeFi solutions.
Empowering the Community through SMILE Token Utility and Governance
SMILE, BitSmiley's governance token, empowers its holders to participate in the platform's decentralized governance by adjusting key parameters like collateral types and loan-to-value (LTV) ratios. Additionally, SMILE holders gain access to unique benefits such as surplus auction participation, fee discounts, and priority liquidation rights. With a total supply of 210 million tokens, SMILE is allocated across various groups to incentivize community involvement and sustainable platform growth. The token distribution includes allocations for early investors, user incentives, staking rewards, and liquidity, with an initial 12.76% release at TGE (Token Generation Event).
Building the Future of Bitcoin DeFi with Robust BTC Layer2 Partnerships
BitSmiley is strategically positioned to expand its DeFi services across multiple BTC Layer2 solutions, with bitUSD initially launching on its first Layer2 partner. The protocol's over-collateralization mechanism, similar to MakerDAO, enables users to mint bitUSD by collateralizing BTC through wrapped BTC on Layer2 networks or via BitSmiley's official bridge. This robust ecosystem extends beyond stablecoins and lending, incorporating insurance and CDS derivatives to provide a holistic DeFi solution for BTC holders. With the support of prominent investors like OKX Ventures, ABCDE, KuCoin Ventures, and MH Ventures, BitSmiley is set to broaden the adoption of Bitcoin within the decentralized finance landscape.
10,000 USDT Limited-Time Offer for CoinW Community
To celebrate the listing, 10,000 USDT equivalent SMILEY prize pool will be up for grabs from November 6th, 2024, at 10:00 to November 13th, 2024, at 16:00 (UTC). By participating in events such as registration, trading, and community events, CoinW users have the opportunity to share in a prize pool of 10,000 USDT. To claim your rewards, please click here.
About CoinW
CoinW is a pioneering crypto trading platform that prioritizes security, transparency, and user-centric principles. With advanced technology, deep liquidity, and a wide range of supported cryptocurrencies, the company has amassed a broad user base to become one of the world's most secure crypto exchanges. Committed to security, transparency, and compliance, the CoinW exchange upholds the highest regulatory standards and actively contributes to the advancement of the crypto industry. To learn more about CoinW, you can visit the official website, and follow CoinW's Twitter Account, Btok, and Telegram Group.
About BitSmiley
BitSmiley is a Bitcoin-native stablecoin protocol where BTC holders can mint bitUSD, an overcollateralized stablecoin that brings true DeFi to Bitcoin.
CONTACT: marketing at coinw.com
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- Jim Beam Celebrates the U.S. Women's National Team's Match Against Argentina in the Birthplace of the World's #1 Bourbon
- Nov 07, 2024 at 12:25 am
- Jim Beam, the Official Spirit Partner of the U.S. Soccer Federation, celebrated the U.S. Women's National Team's (USWNT) match against Argentina last week. The highly anticipated game, which was played in front of a sold-out crowd, marked the first time in 20 years that the USWNT returned to Louisville, Kentucky, creating a special moment that united fans in the birthplace of the world's #1 bourbon.