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

Legacy Mainnet Shutdown

Neo has issued an official reminder that the Neo Legacy MainNet will be shut down on October 31. Users are urged to complete their asset migration before the deadline to avoid the risk of losing funds. The Legacy network, originally launched as AntShares MainNet in 2016, will be fully decommissioned, marking the end of its operational phase within the Neo ecosystem.

NEO

-4%

2025-10-30

Seattle AI Week in Seattle

Arcblock plans to unveil a new partnership during Seattle AI Week on October 27th-31st. The conference is expected to attract more than 3,500 attendees and lists Coinbase, Accenture and other companies as sponsors.

ABT

3.07%

2025-10-30

Hackathon

Flow launches Forte Hacks, a virtual hackathon offering over $250,000 in prizes and perks, starting on October 1-31. The event aims to explore the full potential of the Flow ecosystem. Forte is now live on the Flow testnet, allowing developers to get an early start on their projects before the hackathon begins.

FLOW

-2.81%

2025-10-30

Cosmoverse in Split

Cosmos will host Cosmoverse 2025 in Split, Croatia, on October 30 – November 1, bringing together blockchain developers, ecosystem contributors, and policy experts for three days of panels, workshops, and networking.

ATOM

-1.35%

2025-10-31

Ripple Swell 2025 in New York

Ripple announced that its flagship event, Ripple Swell, will return to New York on November 3rd-5th.

XRP

-3.18%

2025-11-04

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

Plume (PLUME) — Plume (PLUME) — A Modular Blockchain Focused on RWA

Plume changes the status quo by bringing real-world assets on-chain and integrating synthetic assets into this new ecosystem for decentralized lending, trading, financial products, and other use cases. This bridges the gap between traditional finance and the crypto ecosystem.

1/23/2025, 4:05:58 AM

BitSmiley (BIT) Research Report

Introduction

Core Components

bitUSD

bitLending

Key Metrics

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