The Bitcoin stablecoin project, bitSmiley, goes live with its Alphanet V1, marking its debut deployment on the Bitcoin Layer 2 network, Bitlayer.
bitSmiley wraps up two rounds of beta testing and officially launches its Alphanet. According to bitSmiley’s official updates, the first phase of bitSmiley's Alphanet is deployed on the Bitlayer mainnet, accompanied by the introduction of the bitPoint pre-season. The pre-season will kick off today at 12pm UTC and run for ten days, with bitSmiley allocating 1% of tokens for airdrops to pre-season participants.
bitSmiley is the first project to propose minting native stablecoins through Bitcoin over-collateralization. Backed by OKX Ventures and ABCDE, it introduces a series of BTC DeFi products based on its stablecoin, bitUSD, and has already launched the AMM DEX bitCow. This Alphanet launch event will debut both the bitSmiley and bitCow products.
Additionally, the winning meme tokens that were in the previous Trumeme Show will go live and be available for trading on bitCow's DEX today at UTC 12pm.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
El Salvador Announces New Bitcoin Step Despite IMF Warning
Bitcoin country El Salvador has taken a new step for BTC despite the stern warning and new agreement from the IMF.
Tether (USDT) Shares Its Profit Generated in 2024
Tether (USDT), the world's largest stablecoin issuer, shared the amount of profit it made in 2024.
New Proposal from Bitcoin Hater Peter Schiff: “Let’s Create a New Altcoin Reserves Instead of BTC Reserves”
Peter Schiff, known for his intense criticism of cryptocurrencies, opposed the strategic Bitcoin reserve proposal.
Institutions to Shift Toward Altcoins by 2025, Says Bitwise CIO