Dear bitSmilers,
We’re thrilled to announce our collaboration with bitCow for an exciting joint public testnet event.
Buckle up and grab the seat that will lead you to bitSmiley and bitCow’s future AIRDROP?!
During this testnet period, users will be able to mint bitUSD using WBTC on bitSmiley and provide liquidity and trade on bitCow with bitUSD.
This joint public testnet event is open to everyone. However, Only qualified bitSmilers will be airdroped testnet WBTC.
Users can acquire testnet WBTC through various means, including participants in the early closed beta of bitSmiley, bitDisc-Black holders participating in restaking, users with bitSmiley Discord roles, participants in Disocrd AMA and Horde event, and KOL raffle winners.
* Please note that we will take the snapshot of all bitDisc-Black holders anytime on April 3rd.* It is very important to acquire testnet gas tokens before the event officially starts to avoid inconvenience.
To get your gas tokens:
Merlin Chain Testnet User Guide
Bitlayer Chain Testnet User Guide
During the testnet period, users will experience the process of overcollateralizing WBTC to mint bitUSD on bitSmiley and provide liquidity and trade on bitCow using bitUSD, with parameters set close to real-life conditions. Users need to plan their WBTC holdings wisely to maximize rewards, as different behaviors result in varying amounts of rewards in bitSmiley and bitCow tokens at the end of the testnet.
The Truememe Show
In addition to the official bitUSD-WBTC trading pair established on bitCow, users can also issue meme tokens on the testnet and create ‘bitUSD/meme’ trading pairs for their meme tokens on bitCow.
After the testnet event, we will consider factors such as meme token holders, trading volume, and community size to select a winning meme token. We will issue this winning meme token on the Merlin mainnet and Bitlayer mainnet (with the same token name and total supply as on the testnet) and provide airdrops to holders of this meme token based on their holdings at the end of the test. And more?! Holders of the winning meme token will also receive bitCow tokens airdrops based on their proportional holdings.
Are you ready to join us for some laughs and rewards? Stay tuned for all our social announcements! More event details and information will be announced in the following days.
