Corn, an Ethereum Layer-2 community that makes use of hybrid tokenized bitcoins (BTC) as fuel and gives Tremendous Yield to its customers, has launched after securing $6.7 million in seed funding led by Polychain Capital, in line with an announcement on the twentieth. fromcrypto.
The seed spherical additionally included notable company and particular person traders, together with Binance Labs, Framework Ventures and Polygon co-founder Sandeep Nailwal.
Corn mission
Corn goals to create a network-wide “Crop Circle” that connects customers, purposes and token holders right into a cohesive and mutually useful ecosystem.
The launch of the community is a response to challenges confronted by different decentralized networks, which frequently battle with their members. This mismatch may end up in issues equivalent to inadequate long-term liquidity, restricted token utility, and a scarcity of dedicated builders.
To deal with these challenges, Corn intends to offer customers with a sustainable return, keep liquidity whereas growing utility for token holders.
Corn's founder, Spadaboom, emphasised the venture's objective of empowering apps to draw and retain builders on the platform. He defined:
“By connecting community members with the facility of Tremendous Yield Farming, guaranteeing the underlying utility of tokens and placing Bitcoin within the driver's seat, Corn is certainly not simply one other vanilla chain startup.”
Corn additionally takes inspiration from Curve's veTokenomics and gives CORN tokens as incentives for customers and builders. Those that be part of the app will obtain incentives, whereas punters of the CORN, generally known as popCORN, can have a say within the distribution of these incentives.
BTC
Maize goals to offer customers with the power to get pleasure from “digital gold” in the long run by leveraging a tokenized model of Bitcoin generally known as BTCN.
It said:
“BTCN is our hybrid tokenized Bitcoin, backed 1:1 by native BTC and never tied to a single centralized administrator or bridging resolution. As a substitute, BTCN expands its mining rights to a number of trusted custodians, sensible contracts and/or bridging protocols.”
By means of corn, Bitcoin holders can use their property in a wide range of methods whereas retaining management over their administration, unlocking the potential of their in any other case dormant digital asset.
