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)