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

* The information is not intended to be and does not constitute financial advice or any other recommendation of any sort offered or endorsed by Gate.

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Content

Introduction

Core Components

Key Metrics

Crypto Calendar

Project Updates

Etherex will launch the token REX on August 6.

REX

22.27%

2025-08-06

Rare Dev & Governance Day in Las Vegas

Cardano will host the Rare Dev & Governance Day in Las Vegas, from August 6 to 7, featuring workshops, hackathons and panel discussions focused on technical development and governance topics.

ADA

-3.44%

2025-08-06

Blockchain.Rio in Rio De Janeiro

Stellar will participate in the Blockchain.Rio conference, scheduled to be held in Rio de Janeiro, from August 5 to 7. The program will include keynotes and panel discussions featuring representatives of the Stellar ecosystem in collaboration with partners Cheesecake Labs and NearX.

XLM

-3.18%

2025-08-06

Webinar

Circle has announced a live Executive Insights webinar titled “The GENIUS Act Era Begins”, scheduled for August 7, 2025, at 14:00 UTC. The session will explore the implications of the newly passed GENIUS Act—the first federal regulatory framework for payment stablecoins in the United States. Circle’s Dante Disparte and Corey Then will lead the discussion on how the legislation impacts digital asset innovation, regulatory clarity, and the US’s leadership in global financial infrastructure.

USDC

-0.03%

2025-08-06

AMA on X

Ankr will host an AMA on X on August 7th at 16:00 UTC, focusing on DogeOS’s work in building the application layer for DOGE.

ANKR

-3.23%

2025-08-06

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

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

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

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

Advanced

Gate.io Launches PreMint: A Revolution in Pre-Market Trading

Gate.io recently launched PreMint feature for pre-market trading. PreMint is a staking and minting mechanism for pre-market trading. It allows users to stake USDT to mint PreToken.

9/3/2024, 3:58:28 AM

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BitSmiley (BIT) Research Report

Introduction

Core Components

bitUSD

bitLending

Key Metrics

Crypto Calendar

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