The Bitcoin stablecoin project bitSmiley has launched its testnet V1, deployed on the Bitcoin Layer 2 network Bitlayer

ChainCatcher news, the BTC DeFi ecological protocol bitSmiley has completed two rounds of testing and is now officially launched on the pilot network. The first phase of the pilot network for bitSmiley is deployed on the Bitcoin Layer 2 network Bitlayer mainnet, and the bitPoint seasonal gameplay is also launched. The preseason will kick off today at 12pm UTC for a duration of ten days, during which bitSmiley will allocate 1% of its tokens for an airdrop to participants of the preseason.

It is reported that bitSmiley is a project that mints native stablecoins through over-collateralization of Bitcoin, led by OKX Ventures and ABCDE, and has launched a series of BTC ecological DeFi products based on its stablecoin bitUSD, including the AMM DEX bitCow. This pilot network event will simultaneously launch both the bitSmiley and bitCow products. In the previous testnet Trumeme event, the winning Meme assets will also be listed for trading on the bitCow DEX today at 20:00 Beijing time.