As the gap between network and CPU speeds rapidly increases, the CPU-centric network stack proves inadequate due to excessive CPU and memory overheads. Though hardware-offloaded network stacks alleviate these issues, they suffer from limited flexibility in both control and data planes. It seems promising to offload network stacks to Smart-NICs to provide high flexibility. However, naive offloading leads to low throughput due to the inherent architectural limitations of widespread off-path SmartNICs. Even simple operations on staged network traffic would overwhelm the limited SmartNIC memory bandwidth. To this end, we design SmartNS, a SmartNIC-centric network stack with software transport programmability and line-rate packet processing capabilities. To tackle the limitations of SmartNIC-induced challenges, we propose a header-only offloading TX path and an unlimited-working-set in-cache processing RX path to minimize memory traffic to fit the wimpy SmartNIC memory bandwidth. To fully utilize the SmartNIC computing resources, we propose a programmable offloading engine to enable cloud providers to offload customized tasks along with the network stack processing. We prototype SmartNS using the widespread Nvidia BlueField-3 SmartNIC, and implement RoCEv2 and Solar transport protocols by leveraging SmartNS's software programmability. SmartNS achieves 2.2× higher throughput than the microkernel-based baseline in block storage disaggregation and 1.3× higher throughput than the hardware-offloaded baseline in KVCache transfer.