CORN represents an innovative Ethereum Layer 2 solution that utilizes Bitcoin as its primary fuel source. By integrating the VeCHAIN Super Yield Network and Crop Circle system, CORN enhances transaction efficiency while creating new DeFi opportunities for Bitcoin holders. The project employs $BTCN** as a 1:1 Bitcoin-pegged fuel token and **$CORN as its governance token.
With a unique Kernels rewards system, CORN incentivizes users to contribute by depositing assets, completing tasks, and inviting others. Supported by DeFi experts and major investors, CORN aims to bridge Bitcoin and Ethereum ecosystems, driving innovation in the BTCFi space.
CORN Project Overview
CORN is a groundbreaking Ethereum Layer 2 blockchain that uses Bitcoin (BTC) instead of Ethereum (ETH) to pay transaction fees and secure the network. Key features include:
- BTCN Token: A hybrid tokenized Bitcoin for gas fees.
- Super Yield Farming: Maximizes BTC utility in DeFi via yield mechanisms.
- Crop Circle System: Enhances liquidity and integration between Bitcoin and Ethereum.
👉 Discover how CORN unlocks Bitcoin's DeFi potential
Team and Funding
CORN raised $6.7M in a seed round led by Polychain Capital, with participation from Binance Labs and Framework Ventures (August 2024). Key highlights:
- Team: Experienced DeFi professionals from Badger, Code4rena, and Slingshot.
- Strategic Backing: HTX Ventures invested post-seed round, validating market interest.
Technology and Mechanisms
Bitcoin-Based Layer 2 Network
CORN connects Bitcoin and Ethereum ecosystems, offering:
- Scalability: Lower fees and faster transactions.
- Security: Ethereum’s robust infrastructure.
- BTC Utility: New use cases for Bitcoin holders.
Super Yield Network: VeCHAIN
Inspired by Curve Finance’s veTokenomics, CORN’s model includes:
| Token | Role |
|-----------|----------|
| $BTCN | Gas fee token (1:1 BTC-pegged). |
| $CORN | Governance token (veToken model). |
Rewards incentivize long-term participation and liquidity provision.
Kernels Rewards System
Kernels are points (not tokens) earned through:
Asset Deposits: Stake wBTC, ETH, stablecoins, etc.
- Multipliers: Up to 3× via Pendle integration (e.g., solvBTC vault offers 32.19% APY).
- Galxe Tasks: Complete quests for additional Kernels.
- Referrals: Earn 20% of direct invitees’ Kernel earnings.
👉 Maximize your Kernels with Pendle’s yield strategies
BTCFi Ecosystem
Bitcoin Restaking for Higher Yields
CORN collaborates with Pendle, Babylon, and Lombard to offer:
- Liquid Staking Tokens (LSTs): Like LBTC (1:1 redeemable for BTC).
- Pendle Pools: High-yield opportunities (e.g., solvBTC pool at 32.19% APY).
Key Partners:
- Babylon: Trustless BTC staking.
- Lombard: LBTC for DeFi liquidity.
- Pendle: Yield tokenization.
Yield Integration
Pendle’s CORN Pool Performance
| Pool | APY | TVL |
|----------------|----------|----------|
| solvBTC (CORN) | 32.19% | $51M |
| uniBTC (CORN) | 13.78% | $29M |
| LBTC (CORN) | 10.56% | $33M |
Strategies:
- Leveraged YT: High-risk, high-reward yield farming.
- Fixed PT: Stable returns.
Conclusion
CORN’s Bitcoin-centric Layer 2 model positions it as a leader in BTCFi. With:
- Yield Innovations: Pendle integrations and Kernels rewards.
- Ecosystem Growth: Partnerships with Babylon/Lombard.
Future developments include cross-chain bridge upgrades and expanded BTCN adoption.
FAQs
1. How does CORN use Bitcoin for gas fees?
CORN employs BTCN, a 1:1 Bitcoin-pegged token, to pay transaction costs on its Layer 2.
2. What’s the APY for CORN’s Pendle pools?
Up to 32.19% for solvBTC deposits.
3. Are Kernels tradable tokens?
No—Kernels are points redeemable for $CORN airdrops.
4. Who backs CORN?
Polychain Capital, Binance Labs, and HTX Ventures.
5. How does BTCFi benefit Bitcoin holders?
It unlocks DeFi yields without selling BTC.
🚀 Ready to explore CORN’s Layer 2? Start with Pendle’s high-yield pools
Disclaimer: Investments carry risks. This content is not financial advice.