Bitcoin stablecoin project bitSmiley has reported the completion of two rounds of beta testing and now has proceeded to officially launch its Alphanet. The initial stage of bitSmiley’s Alphanet has been implemented on the Bitlayer mainnet, coinciding with the introduction of the bitPoint pre-season. The new development empowers users to mint stablecoins while simultaneously accruing bitPoints.
bitPoint serves as a token reward distributed through airdrops for user engagement within the protocol. The pre-season is scheduled to commence today at 12 pm UTC and will continue for the duration of ten days. bitSmiley has designated 1% of tokens for airdrops to participants during the pre-season.
Throughout this timeframe, users have the opportunity to accumulate points by engaging in activities such as minting bitUSD on bitlayer and providing liquidity for designated trading pairs on bitCow, including bitUSD-USDT and bitUSD-WBTC.
Furthermore, the winning meme tokens from the preceding Trumeme Show are set to be launched and made accessible for trading on bitCow’s decentralized exchange (DEX) today at 12 pm UTC.
Additionally, users have the option to create their own teams or join existing ones, with team points determining their ranking. By affiliating with a team boasting higher total points, individuals can augment their own points.
Users who track M-bitDisc on the bitSmiley website and link their EVM wallet addresses will receive supplementary rewards. Those staking up to two bitDisc under the same address will receive a 2% bonus in individual bitDisc points while staking between 3 to 4 bitDisc will yield a 5% bonus. Users staking over 5 bitDisc will receive an 8% points bonus.
The bitSmiley Alphanet is officially LIVE: https://t.co/HVApuSXFhl. Explore the cutting-edge features of our groundbreaking protocol now deployed on @BitlayerLabs network. Start minting stablecoins while earning your exclusive bitPoints now!The smart contract to mint… https://t.co/yGvd3MiHUo pic.twitter.com/4VboqBVF8M
— bitSmiley (@bitsmiley_labs) May 1, 2024
What Is BitSmiley?
BitSmiley operates as a protocol built on the Bitcoin blockchain within the Fintegra framework. It comprises three primary elements: a decentralized overcollateralized stablecoin protocol, a native trustless lending protocol, and a derivatives protocol. Together, these components synergize to establish a robust financial ecosystem on the Bitcoin blockchain, enriching its capabilities and effectiveness within the decentralized finance (DeFi) sector.
The project emerges as the pioneer advocating for the creation of native stablecoins via Bitcoin over-collateralization. Supported by OKX Ventures and ABCDE, it presents a range of BTC-based DeFi products revolving around its stablecoin, bitUSD, and has recently introduced the AMM DEX bitCow. The Alphanet launch event will mark the unveiling of both bitSmiley and bitCow products.
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