- BTCN: Tokenized Bitcoin for the Corn Network
- Yield Generation on the Corn Network
- Binance Labs and Strategic Investments
Corn, the new Ethereum Layer-2 network, has received $6.7 million in investments, including support from Polychain Capital. Corn distinguishes itself by integrating Bitcoin into the Ethereum ecosystem using a tokenized version called BTCN.
BTCN: Tokenized Bitcoin for the Corn Network
Corn introduces BTCN, a hybrid tokenized version of Bitcoin designed to enhance Bitcoin’s utility within the DeFi ecosystem. Unlike traditional tokenized Bitcoin, BTCN leverages multiple custodians, smart contracts, and bridging protocols, offering users flexibility and security. This structure allows Bitcoin holders to participate in various DeFi applications without choosing between centralized and decentralized custody solutions.
Yield Generation on the Corn Network
Corn’s yield generation mechanism is a cornerstone of its ecosystem. Users can stake Corn’s native token, CORN, to receive popCORN, which gives them control over the distribution of two continuous yield streams: BTCN and CORN. Inspired by the veTokenomics model from Curve Finance, this approach incentivizes both stakers and developers, allowing CORN holders to direct incentives to specific applications.
Binance Labs and Strategic Investments
Binance Labs announced its investment in Corn, marking the project’s first fundraising round on August 8. According to the team, the funds will be used to expand Corn’s ecosystem, onboard builders and projects, and establish an incubator to foster innovation within the network.
Corn is emerging as an innovative platform in the DeFi space, attracting significant investments and offering new opportunities for Bitcoin holders. With support from prominent investors and strategic partners, the Corn network promises to open new horizons in decentralized finance.
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