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

Quick Summary:

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.

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 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.

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Article Details

Author / Journalist: CoinW

Category: Technology

Markets: China

Topics: Holders Defi Bitsmiley Lending Coinw Stablecoin Overcollateralized Bitusd Mint Bitcoin Ecosystem

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-06 @ 12:00:00 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: globenewswire.com

Language: English

Article Length: 459 words

Reading Time: 3 minutes read

Sentences: 20 lines

Sentence Length: 23 words per sentence (average)

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Copyright Owner: © GlobeNewswire

News ID: 23446609

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