BitSmiley (BIT) Research Report

5/31/2024, 7:50:50 AM

Beginner

BitSmiley is a trading and stablecoin protocol based on the Bitcoin Layer 2 network

Project Name: BitSmiley
Tag: $BIT
Type: BTC Stablecoin Protocol
TVL: $81.96 Million

Introduction

BitSmiley is a trading and stablecoin protocol based on the Bitcoin Layer 2 (L2) network. It provides a “stablecoin + lending” infrastructure within the Bitcoin ecosystem through the issuance of the stablecoin bitUSD, collateralized by excess BTC, and the decentralized lending platform bitLending, which is based on bitUSD.

Core Components

bitUSD

bitUSD stablecoin is the core component of BitSmiley. Users collateralize BTC with BitSmileyDAO to mint bitUSD, and redemption follows a reverse mechanism. For liquidation, it adopts the latest MakerDAO liquidation 2.0 mechanism, using a Dutch auction model. Liquidation process is initiated when the Loan-to-Value (LTV) falls below a set threshold.

bitLending

bitLending enables peer-to-peer lending. Lenders post loan offers on bitLending, specifying parameters such as bitRC-20 token type, token quantity, and loan interest rates. Borrowers select offers they’re interested in. After matching, bitLending generates a multi-signature address for fund transfer.

Key Metrics

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Content

Introduction

Core Components

Key Metrics

Crypto Calendar

Token unlock

peaq (PEAQ) will unlock approximately 84.84 million Tokens on September 12 at 8:00, valued at around 5.6 million USD, which is 6.38% of the current Circulating Supply.

PEAQ

-6.87%

2025-09-12

Solidity Workshops

VeChain has announced the launch of a developer education initiative in partnership with UK universities, starting August 5. The program includes six workshops focused on teaching students and global participants how to build smart contracts on VeChain using Solidity. The series will culminate in an online hackathon scheduled from September 22 to October 6, offering a total prize pool of $30,000. Additional details are expected to be shared in the coming weeks.

VET

-3.53%

2025-09-14

ETH Tokyo in Tokyo

COTI will participate in ETH Tokyo in Tokyo on September 12th-15th.

COTI

-5.31%

2025-09-14

127MM Token Unlock

Starknet unlocks tokens at 12 AM UTC.

STRK

-2.42%

2025-09-14

Tokens Unlock

Sei will unlock 55,560,000 SEI tokens on September 15th, constituting approximately 1.18% of the currently circulating supply.

SEI

-2.22%

2025-09-14

Advanced

DOGS Token Overview: Tokenomics and Airdrop Claiming (as of 2025)

The DOGS token, inspired by the mascot Spotty designed by TON founder Pavel Durov for the Telegram community, embodies the unique spirit and culture of the Telegram ecosystem. As of 2025, DOGS has established itself as a leading meme token on the TON blockchain, ranking in the top 50 cryptocurrencies by market cap. The ecosystem has expanded significantly, featuring DOGS 2.0 protocol with enhanced staking, DeFi integrations across multiple chains, and a community governance system. DOGS now supports NFT collections, gaming integrations, and cross-chain functionality, with Gate providing comprehensive trading support and improved liquidity options.

5/22/2025, 3:02:50 AM

Advanced

Grass (GRASS) — Decentralized AI Data Collection

Grass is a DePIN project built on the Solana network that leverages unused internet bandwidth to gather information from public networks. This information is then used to train large language models (LLMs) and establish a transparent data marketplace that rewards all participants. The protocol utilizes the bandwidth of users' devices to search for necessary information, process the collected data, and record its provenance history on the blockchain using zero-knowledge proofs (ZKPs).

11/4/2024, 6:54:01 AM

Advanced

Gate.io Launches Pilot Trading Section: Capture On-chain Alpha and Seize 100x Opportunities!

The Gate.io Pilot Trading Section is a newly launched independent trading board focused on finding popular on-chain projects. It helps users participate in on-chain project launches without needing a Web3 wallet.

9/14/2024, 6:35:55 AM

Beginner

Virtuals Protocol (VIRTUAL) — The AI Agent Generation Platform at the Forefront of Innovation

Founded in 2021, Virtuals Protocol is an AI agent generation platform built on Base Rollup. It was co-founded by Prakash Somosundram, Colin Choo, Christopher Johnson, and Matthew. The platform aims to allow anyone to create an AI agent—a virtual character capable of interacting with and participating in its environment like a human. It incentivizes the decentralized creation and monetization of AI agents for every virtual interaction, whether in gaming, the metaverse, online engagements, or other applications.

12/18/2024, 8:57:22 AM

Beginner

Kaito (KAITO) - A Decentralized InfoFi Platform

Kaito is a decentralized application platform based on Web3 and AI technologies, aimed at providing users with low-barrier personalized AI robot creation tools and building an open and fair AI content ecosystem.

2/28/2025, 7:34:54 AM

Beginner

Pi Network (PI) — A Crypto Network Focused on Mobile Mining

Pi Network is a decentralized cryptocurrency project based on mobile mining, aiming to popularize blockchain technology through an easy-entry mining model, such as smartphone mining. Users can participate in mining simply by using a mobile app, without the need for professional hardware or high energy consumption.

2/20/2025, 9:46:02 AM

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BitSmiley (BIT) Research Report

Introduction

Core Components

bitUSD

bitLending

Key Metrics

Crypto Calendar

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