1. BTCN: Tokenized Bitcoin for the Corn Network
2. Yield Generation Mechanism on the Corn Network
3. Binance Labs and Strategic Investments

Corn, the latest Ethereum Layer-2 network in the decentralized finance (DeFi) space, recently secured $6.7 million from several key investors, including Polychain Capital. Corn's standout feature is integrating Bitcoin into the Ethereum ecosystem through its tokenized Bitcoin, BTCN, which serves as its gas fee token and economic incentive.

BTCN: Tokenized Bitcoin for the Corn Network

Corn unveiled BTCN, a hybrid tokenized Bitcoin designed to enhance Bitcoin's utility in the DeFi ecosystem. Unlike traditional tokenized Bitcoin, which relies on a single custodian or bridge, BTCN leverages multiple custodians, smart contracts, and bridging protocols. This structure provides users with flexibility and security, allowing them to manage their assets according to their risk preferences while participating in various DeFi applications. According to Corn's founder, Chris Spadafora, BTCN will revolutionize how Bitcoin is used in decentralized finance, offering a versatile and secure solution for users.

Yield Generation Mechanism on the Corn Network

The yield generation mechanism is a cornerstone of the Corn ecosystem. Users can stake the native CORN token to receive popCORN, giving them control over the distribution of two continuous yield streams: BTCN, derived from network transaction fees, and CORN, generated from native network emissions. This model incentivizes both stakers and developers. To enhance yield generation, Corn employs the veTokenomics model pioneered by Curve Finance. CORN holders can direct incentives to specific applications, encouraging the development and use of various DeFi protocols. This system also benefits Bitcoin holders who can utilize their assets in a decentralized and profitable environment.

Binance Labs and Strategic Investments

Binance Labs, the venture capital arm of Binance, announced its investment in Corn, marking the project's first fundraising round on August 8. The funds will be used to expand Corn's ecosystem, onboard builders and projects, and establish a dedicated incubator to foster innovation within the network.

In conclusion, Corn, having received substantial funding and support from major investors, introduces its hybrid tokenized Bitcoin BTCN and a unique yield generation mechanism for Bitcoin within DeFi. The project aims to extend DeFi opportunities for developers and BTC and CORN holders, providing new avenues for generating yield.