The Bitcoin stablecoin project, bitSmiley, goes live with its Alphanet V1, marking its debut deployment on the Bitcoin Layer 2 network, Bitlayer.

bitSmiley wraps up two rounds of beta testing and officially launches its Alphanet. According to bitSmiley’s official updates, the first phase of bitSmiley's Alphanet is deployed on the Bitlayer mainnet, accompanied by the introduction of the bitPoint pre-season. The pre-season will kick off today at 12pm UTC and run for ten days, with bitSmiley allocating 1% of tokens for airdrops to pre-season participants.

bitSmiley is the first project to propose minting native stablecoins through Bitcoin over-collateralization. Backed by OKX Ventures and ABCDE, it introduces a series of BTC DeFi products based on its stablecoin, bitUSD, and has already launched the AMM DEX bitCow. This Alphanet launch event will debut both the bitSmiley and bitCow products.

Additionally, the winning meme tokens that were in the previous Trumeme Show will go live and be available for trading on bitCow's DEX today at UTC 12pm.