I’ve been keeping an eye on projects built around Bitcoin and recently checked out CORN.
The token isn’t out yet, but they’re gaining momentum, likely due to their recent fundraising and the future airdrop.
What’s CORN?
Corn is a fresh Ethereum Layer 2 network that uses a hybrid tokenized Bitcoin ($BTCN) as its gas token.
It also taps into Super Yield to funnel rewards back to users and protocols.
$BTCN, pegged 1:1 with native Bitcoin, gives Bitcoin holders a way to put their assets to work on Ethereum and its Layer 2s.
Backed by trusted custodians and smart contracts, $BTCN evolves with Bitcoin storage solutions.
Corn brings the « veCHAIN » concept, a mechanism that aligns users, apps, and token holders.
Inspired by Curve’s veTOKENOMICS, Corn directs yield each block.
It allows $CORN stakers to choose which protocols get rewarded.
A native bribe market sweetens the deal and encourages top-tier builders to join and stay on Corn.
This system echoes what Bera Chain aims to do with its Proof-Of-Liquidity mechanism.
Fundraising
Corn has been in the spotlight recently, mainly because of its latest fundraising.
They pulled in $6.7 million in their last round, with big names like Polychain Capital, Binance Labs, and Framework Ventures backing them.
How Corn can stand out in the BTCfi narrative
The BTCfi (Bitcoin Finance) and sidechain narrative is rapidly evolving as projects explore ways to bring Bitcoin into the broader decentralized finance (DeFi) ecosystem. Traditionally, Bitcoin has been somewhat isolated from the innovation happening in Ethereum and other smart contract platforms due to its limited programmability. However, the emergence of sidechains and layer 2 solutions is changing that, allowing Bitcoin to participate in DeFi without compromising its core principles of security and decentralization.
Summary
Will keep an eye on this one. I like their brand and there is always some value building something around Bitcoin.
