BitSmiley, a prominent participant in the Bitcoin DeFi ecosystem, announced yesterday that it has completed its token fundraising round. The round was led by OKX Ventures and ABCDE, and received extensive support from diverse investors.
Notable investors include CMS Holdings, Foresight Ventures, LK Venture, and Silvermine Capital, as well as individuals associated with Delphi Digital and Particle Network.
The wide-ranging and diverse support from investors highlights the strong belief in the potential of bitSmiley to completely transform the Bitcoin DeFi landscape.
Jayden, co-founder of bitSmiley, expressed his enthusiasm for the successful fundraising round, stating that investors have also shown confidence in the project. Nick, partner at CMS Holdings, said, “CMS is pleased to support bitSmiley. We see a clear market fit for overcollateralized stablecoins, like DAI on Ethereum, and are excited to see this journey unfold on BTC.”
Dora Yue, founder of OKX Ventures, emphasized that bitSmiley is powered by the Fintegra framework, a groundbreaking protocol on the Bitcoin blockchain. It consists of three key components: bitUSD, a Bitcoin-native overcollateralized stablecoin providing stability and transparency in the Bitcoin DeFi space; bitLending, a P2P lending protocol based on bitUSD, enabling users to borrow stablecoins using BTC as collateral; and Credit Default Swaps (CDS), which will provide additional loan security through bundled loans and default prevention.
With these components, bitSmiley aims to become a comprehensive DeFi protocol on the Bitcoin blockchain, seamlessly integrating stablecoin issuance, lending, and derivative products.
It is worth noting that bitSmiley is preparing to launch a new DeFi naming protocol called bitRC-20 (compatible with BRC20). The protocol’s first asset, OG PASS NFT – “bitDisc”, will debut on the OKX and Unisats wallets. bitDisc will be available in two levels: Gold and Black cards. The Gold card will be exclusively distributed to selected Bitcoin OGs and industry leaders. Currently, there are less than 40 Gold cardholders with Bitcoin holdings in the four digits. The first Gold card, numbered 001, will be airdropped to a suspected Satoshi Nakamoto address as a commemoration.
bitSmiley announced that starting from February 4th, the Black card will be open to the public through whitelist and public sale events, expecting to generate attention and discussion within the cryptocurrency community.
The success of bitSmiley’s first token fundraising round and its innovative initiatives highlight its crucial role in shaping the future of Bitcoin DeFi. With a diverse supporter base and a visionary approach, bitSmiley is fully capable of leading the ever-evolving Bitcoin ecosystem.