Odaily News According to the official announcement, the Bitcoin DeFi infrastructure bitSmiley is about to launch the token SMILE on the Ethereum network. The reason is that the Bitcoin blockchain infrastructure is still underdeveloped and the existing infrastructure cannot support project governance on the Bitcoin blockchain. The issuance of SMILE on Ethereum will be conducive to the future cross-chain operation of SMILE, and it will be easier for users to trade and participate in the decentralized governance of bitSmiley. The total number of SMILE tokens is 210 million, and the token standard is ERC-20. The token is used for governance, fee discounts, etc. The specific distribution is as follows: DAO allocation accounts for 26% of the total supply; User incentive allocation accounts for 21.5% of the total supply; Investor allocation accounts for 16% of the total supply; Team advisor allocation accounts for 12.5% of the total supply; Staking shares account for 12.5% of the total supply.