BitSmiley, a Bitcoin-native Stablecoin Protocol, Will Be Initially Listed on CoinW Exchange

CoinW,
the
world’s
pioneering cryptocurrency
trading
platform,
will
initially
list
BitSmiley(SMILE),
a
bitcoin-native
stablecoin
protocol,
on
the
DEFI
Zone.
For
all
CoinW
users,
the
SMILE/USDT
will
be
officially
available
for
trading
on
November
6th
2024,
at
10:00
(UTC).
To
celebrate
the
listing
of
SMILE,
we
are
launching
the
“
SMILE
bounty
program:
Register
&
Trade
&
Retweet”
event
with
a
reward
pool
of
10,000
USDT.

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
DeFi
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.