OKX Ventures Invests in bitSmiley for Bitcoin Stablecoin Solutions | Crypto Craft

  • OKX Ventures Invests in bitSmiley for Bitcoin Stablecoin Solutions

    From fxdailyreport.com

    OKX Ventures, the investment branch of the popular cryptocurrency exchange and Web3 technology business OKX, recently made strategic investments in bitSmiley, a Bitcoin stablecoin protocol. This step addresses Bitcoin-specific stablecoin and lending infrastructure issues. bitSmiley provides extensive Bitcoin DeFi (Decentralized Finance) solutions, including BitUSD, a stablecoin backed by BTC with excess collateral. BitSmileyDAO lets users create BitUSD with BTC. Significantly, bitSmiley uses Dutch auction liquidation when collateral value falls below a threshold. bitSmiley uses a unique method to repay its creditors ... (full story)

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Arthurn23
Mar 29, 2024 6:38am
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It's actually quite interesting to see OKX Ventures making strategic investments in projects like bitSmiley that solve mission-critical problems within the Bitcoin stablecoin and lending space. Indeed, Dutch auction liquidation and a unique method to repay. If you want to take a deeper dive into this area with a magnifying legal landscape, you can find some articles exploring this. Maybe, they will come in handy for a better understanding of the situation. Here is where you can access them: https://coinpaper.com/3283/legal-upd...red-operations
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