- BTCN Integration into the Corn Network
- Yield Generation on the Corn Network
- Binance Labs Investments and Strategic Development
Corn is the latest Ethereum Layer-2 (L2) network to emerge in the decentralized finance (DeFi) space. The company has recently received $6.7 million from several major investors, including Polychain Capital.
BTCN Integration into the Corn Network
Corn uses a tokenized version of Bitcoin called BTCN as its gas fee token and for economic incentives. This approach aims to bridge the gap between Bitcoin and DeFi, offering a new yield-generating opportunity for Bitcoin holders. BTCN is a hybrid tokenized version of Bitcoin designed to enhance Bitcoin’s utility within the DeFi ecosystem. Unlike traditional tokenized Bitcoin, which relies on a single custodian or bridge, BTCN leverages multiple custodians, smart contracts, and bridging protocols, providing flexibility and security.
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, generated from network emissions. This approach is inspired by Curve Finance’s veTokenomics model. Corn encourages the development and use of a wide range of DeFi protocols, benefiting Bitcoin holders by providing a decentralized and profitable environment.
Binance Labs Investments and Strategic Development
Binance Labs, the venture capital arm of Binance, has also announced its investment in Corn, marking the project’s first fundraising round on Aug. 8. The funds will be used to expand Corn’s ecosystem, onboard developers and projects, and establish an incubator to foster innovation within the network.
Corn's unique integration of Bitcoin and Ethereum through BTCN offers new opportunities in the world of decentralized finance. Investments from major players like Polychain Capital and Binance Labs are helping Corn actively develop and expand its ecosystem.
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