SmileyCoin (SMLY): how it works, supply and reviews

In short

Type: Own public blockchain, originally derived from Litecoin source code.
Maximum supply: 48 billion SMLY, as described in the white paper.
Risks and caveats: SMLY may lose some or all of its value, may not always be transferable and may not be liquid.
Checked: 1 November 2026

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Key facts

Ticker: SMLY
Official site: smileyco.in

Key facts checked on 1 November 2026 against official sources.

What is SmileyCoin

SmileyCoin (SMLY) is the native coin of the SmileyCoin blockchain, introduced in 2014 at the University of Iceland to reward educational achievement in the SmileyTutor (formerly tutor-web) learning system. SmileyCharity uses SMLY to reward students in its education programmes.

Network and consensus

Network and consensus — SmileyCoin
Parameter	Details
Type	Own public blockchain, originally derived from Litecoin source code.
Consensus	Multi-algorithm proof of work: SHA256d, Scrypt, Groestl, Skein and Qubit.
Block time	Target average of three minutes between blocks.
Launched	Genesis block mined on 13 November 2014.
Runs on	Also issued as BNB.SMLY, a token on BNB Smart Chain backed 1:1 by SMLY held in cold storage.
Who operates the chain	SmileyCharity says neither chain is operated by it; native SMLY is maintained by independent miners and node operators.

Supply and issuance

Supply and issuance — SmileyCoin
Parameter	Details
Maximum supply	48 billion SMLY, as described in the white paper.
Halving	Coinbase halves approximately every seven years.
Initial distribution	24 billion SMLY were premined for educational purposes.
Block reward split	5,000 SMLY per block (subject to halving): 10% to the miner, 45% to SmileyCharity, 45% to qualifying holder addresses.
BNB.SMLY supply	Fixed at 1,000,000,000 BNB.SMLY; no minting after deployment and no upgrade mechanism.

What SMLY is used for

Rewards for educational achievement in SmileyTutor
Spending at participating SmileyStores in SmileyCharity programmes
Mining rewards and protocol payouts to qualifying holder addresses

Who develops and governs SmileyCoin

Issuer: SmileyCharity concludes that no person or undertaking can be identified as the issuer of native SMLY.
White paper preparer: Styrktarfélagið Broskallar, using the registered foreign name SmileyCharity.
Legal entity record: GLEIF lists LEI 636700LQMUJ4E4WR0417 for Styrktarfélagið Broskallar (Iceland), entity status active.
Origin: Developed through research at the University of Iceland.
BNB.SMLY contract owner: The owner role of the BNB.SMLY contract is held by the deployer address of Hybrix, the contractor that designed it.
Open source: Source code on GitHub under the MIT licence; based on the Auroracoin source.

History

History — SmileyCoin
Date	Event
13 November 2014	Genesis block mined as part of academic research at the University of Iceland.
June 2024	Research on SmileyCharity's work in Kenyan communities and refugee camps reported 5,000 students reached by June 2024.
7 October 2026	GLEIF record for Styrktarfélagið Broskallar first registered.
28 October 2026	SmileyCharity published version 1.2 of the SMLY white paper (structured like a MiCA white paper, not notified to any authority).

Security and audits

Native SMLY uses multi-algorithm proof of work; the white paper says each of the five algorithms needs sufficient hash rate.
The white paper says no documented audit exists for the blockchain implementation, the BNB.SMLY contract or the reserve arrangements.

Security incidents

No security incident is recorded in the sources checked on 1 November 2026 (the company’s own channels and incident databases): defillama.com/hacks, hacked.slowmist.io/search, rekt.news/leaderboard, smileyco.in/SMLY-description.html, github.com/smileycoin/smileyCoin/releases

Official SMLY contracts

Official SMLY contracts
Network	Contract address
BNB Smart Chain	0xe015f8C012e932F13184061F3ffd956E9000A6CD

Native SMLY runs on its own chain; BNB.SMLY is the BNB Smart Chain token. The official site warns of copycat tokens: check the contract address.

Risks and caveats

SMLY may lose some or all of its value, may not always be transferable and may not be liquid.
The white paper is not notified to or approved by any EU competent authority.
Fake SmileyCoin copycat tokens exist on BNB Chain; the official site says to check the token contract.
No documented audit of the blockchain, the BNB.SMLY contract or the reserve arrangements.

Official links

Website: smileyco.in
Whitepaper: smileyco.in/SMLY-description.html
Source code: github.com/smileycoin/smileyCoin
Block explorer: blocks.smileyco.in
Wallet: wallet.smileyco.in

Questions and answers

What is SmileyCoin?

SmileyCoin (SMLY) is the native coin of the SmileyCoin blockchain, introduced in 2014 at the University of Iceland to reward educational achievement.

What is the maximum supply of SMLY?

The white paper describes a maximum supply of 48 billion SMLY, with halvings about every seven years; 24 billion were premined for education.

How is SmileyCoin mined?

By multi-algorithm proof of work (SHA256d, Scrypt, Groestl, Skein, Qubit) with a three-minute block target.

Who is behind SmileyCoin?

SmileyCharity (Styrktarfélagið Broskallar, Iceland) prepares the white paper and runs the education programmes; it says no issuer of native SMLY can be identified and that it does not operate the chain.

What is BNB.SMLY?

A BNB Smart Chain token (contract 0xe015f8C012e932F13184061F3ffd956E9000A6CD) with a fixed 1 billion supply, matched by 1 billion SMLY held in cold storage.

Sources

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Page updated: 2026-11-01