BitSmiley is a comprehensive DeFi platform built on the Bitcoin blockchain. It offers a suite of financial products, including a decentralized, overcollateralized stablecoin, a trustless lending protocol, and derivatives. The platform's primary goal is to make DeFi accessible to a wider audience by simplifying complex financial operations and ensuring robust security.
BitSmiley leverages the BRC20 standard to enable peer-to-peer lending directly on the Bitcoin blockchain. Additionally, it has developed insurance and credit default swap (CDS) derivatives built on its lending framework. To expand its reach and utility, BitSmiley has forged partnerships with various Bitcoin Layer 2 projects, providing them with stablecoins and other DeFi ecosystem products.
The usecase of this project makes crypto enthusiasts anticipate the listing of its governance token $SMILE on major exchanges like Bitget which announced listing for 6th November.