Alisa Davidson
Revealed: January 21, 2025 at 10:20 am Up to date: January 21, 2025 at 9:51 am
Edited and fact-checked:
January 21, 2025 at 10:20 am
In Transient
BitSmiley has launched the primary native BTC-backed stablecoin protocol in partnership with ZetaChain on testnet, permitting customers to mint and take a look at it.
Bitcoin-backed stablecoin protocol bitSmiley introduced the launch of the primary native BTC-backed stablecoin protocol in partnership with the Layer 1 blockchain ZetaChain. The testnet is now stay, permitting customers to mint and take a look at the protocol.
bitSmiley launched bitUSD, the primary stablecoin backed by Bitcoin, in partnership with ZetaChain final autumn. The target of bitUSD is to facilitate the combination of native Bitcoin liquidity throughout a number of blockchains. This performance permits customers to deposit their BTC and mint bitUSD, thereby broadening their participation within the blockchain ecosystem.
Moreover, the introduction of bitUSD on ZetaChain improves the consumer expertise by making entry to decentralized finance (DeFi) actions extra simple. Bitcoin holders can mint bitUSD and leverage their BTC for varied DeFi actions, which had been beforehand tough to entry. These embody lending bitUSD to earn yields on Ethereum, exchanging bitUSD for BNB on Binance Sensible Chain, and exploring cross-chain DeFi alternatives.
BitSmiley Kicks Off Testnet Launch Celebration Marketing campaign, Providing Individuals 300K SMILE In Rewards
Together with the launch, BitSmiley has launched a marketing campaign to reward members with as much as 300,000 SMILE tokens. A complete of 400 winners will likely be chosen via a fortunate draw. The marketing campaign presents further rewards for customers who report higher-risk safety bugs. The pre-campaign section, the place customers can put together their take a look at coin by way of the Zeta faucet, is already underway and can run till January twenty fourth.
From January twenty fourth to thirty first, the marketing campaign section will happen. Customers could have the chance to check out the product and submit suggestions. Between February 1st and tenth, each BitSmiley and ZetaChain’s tech groups will evaluation the suggestions and assess the severity of reported safety points. Winners will likely be introduced, and rewards will likely be distributed on February 14th.
In the course of the marketing campaign section, members will have interaction with the complete BitSmiley expertise on the ZetaChain testnet and supply suggestions. Suggestions will likely be categorized into 4 ranges—INFO, LOW, MEDIUM, and CRITICAL. Customers reporting higher-risk safety points will obtain larger rewards. BitSmiley can even host a marketing campaign on Taskon to draw extra customers to hitch.
All members who submit a Google type will robotically be entered into the prize pool, with no further phrases required. From all members, 400 winners will likely be chosen. Suggestions within the NFFO part will earn 33 SMILE tokens, whereas the LOW part will yield 66-333 SMILE, the MEDIUM part 333-666 SMILE, and the CRITICAL part 666-3333 SMILE.
Larger-level suggestions will likely be awarded greater than INFO stage suggestions. If a number of members submit the identical suggestions, rewards will likely be distributed on a first-come, first-served foundation based mostly on the timestamp of the Google type submission. The BitSmiley know-how crew will acknowledge all suggestions and assess the severity of any reported vulnerabilities.
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About The Creator
Alisa, a devoted journalist on the MPost, makes a speciality of cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a eager eye for rising tendencies and applied sciences, she delivers complete protection to tell and interact readers within the ever-evolving panorama of digital finance.
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Alisa Davidson
Alisa, a devoted journalist on the MPost, makes a speciality of cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a eager eye for rising tendencies and applied sciences, she delivers complete protection to tell and interact readers within the ever-evolving panorama of digital finance.
Extra articles
