Binance Labs, the venture capital and incubation arm of Binance, announced its investment in Corn, the first super-yield network built around Bitcoin. This underscores Binance Labs' commitment to supporting early-stage innovation with meaningful and sustainable impact.
What is Corn?
Corn is an Ethereum Layer 2 network focused on building a decentralized finance (DeFi) hub for Bitcoin. This investment marks the first fundraising round for the Corn project.
Role of Binance Labs
Binance Labs continues to support early-stage innovations aimed at creating valuable and sustainable ecosystems. This investment aligns with Binance Labs' strategy of backing projects that can make Bitcoin more effective and convenient to use in DeFi.
Statement from Yi He
Yi He, Co-Founder of Binance and Head of Binance Labs, stated: “Binance Labs is committed to supporting early-stage innovation that delivers meaningful and sustainable impact. We look forward to supporting Corn as they develop a utility-focused ecosystem centered around Bitcoin that will enable it to be used more effectively and efficiently in DeFi.”
Binance Labs' investment in Corn demonstrates their commitment to supporting significant innovations in decentralized finance, potentially enhancing the use of Bitcoin in these systems.
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