LK Venture announces investment in Bitcoin DeFi infrastructure bitSmiley.

ChainCatcher News, recently, Hong Kong-listed company LanGao Interactive (8267.HK) affiliated with the crypto investment and research institution LK Venture announced that it has participated in the first round of financing for the Bitcoin DeFi infrastructure bitSmiley through the Bitcoin network ecological investment management fund BTC NEXT.

It is reported that bitSmiley is a Bitcoin blockchain protocol based on the Fintegra framework, consisting of three main components: a decentralized over-collateralized stablecoin protocol; a local trustless lending protocol; and a derivatives protocol. These components together provide a comprehensive financial ecosystem on the Bitcoin blockchain, enhancing its functionality and practicality in the decentralized finance (DeFi) space.

LK Venture stated that they are optimistic about bitSmiley's potential to innovate and change the Bitcoin DeFi landscape. Similar to the Bitcoin ecosystem's MakerDAO+Compound, bitSmiley will help users enjoy more DeFi financial services such as stablecoins, lending, and derivatives based on the Bitcoin ecosystem by providing comprehensive solutions for Bitcoin DeFi.

In early November 2023, LK Venture launched the Bitcoin network ecological investment management fund BTC NEXT, with a scale of 15 million USD, focusing on investing in emerging crypto assets and projects within the Bitcoin network ecosystem. Currently, it has invested in projects such as UniSat, ALEX Labs, MAP Protocol, BiHelix, and other emerging assets in the Bitcoin ecosystem. LK Venture is also a founding member of BTC Security Lab.