On August 20th, Ethereum Layer 2 network Corn announced the successful completion of a $6.7 million seed funding round, supported by several prominent investment firms, including Polychain Capital. The round was led by Polychain Capital, with participation from Binance Labs, Framework Ventures, and others.
Corn's successful fundraising not only reflects the market's strong recognition of its potential but also highlights the importance of Bitcoin in DeFi applications.
Shortly after Corn completed a funding round, HTX Ventures quickly announced its strategic investment in Corn.
HTX Ventures is the global investment arm of Huobi HTX, dedicated to discovering and supporting the most innovative blockchain projects worldwide. HTX Ventures' recent announcement of its strategic investment in Corn further affirms Corn's promising future in the industry. The support from HTX Ventures not only brings more resources and development opportunities to Corn but also boosts the market's confidence in the project.
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Super Yield Network: Corn
Corn is an emerging Ethereum Layer 2 network specifically designed for real-world Bitcoin applications. The network leverages tokenized Bitcoin (BTCN) as both the fuel token and an economic incentive, aiming to unlock Bitcoin's potential liquidity through its super yield mechanism.
BTCN is one of Corn’s core innovations, serving not only as the network's gas fee but also as an economic incentive to drive active user participation.
What sets Corn apart is its super yield mechanism. Unlike most yield-generating protocols, Corn’s yield is not fixed; it depends on the growth of the ecosystem and the number of participants in the protocol. This mechanism, through Corn’s flywheel effect, continuously enhances the network's appeal, making BTCN more widely applicable in DeFi.
Corn has also adopted the veTokenomics model from Curve, creating a mutually beneficial ecosystem by redistributing rewards to both users and developers.
02
Immediate Attention Upon Launch
Bitcoin, as the world's first cryptocurrency, has a market cap exceeding $1.1 trillion, but much of its liquidity remains locked. Corn unlocks this liquidity through BTCN, presenting new opportunities in the DeFi space, which is highly attractive in the current market environment.
The founding team of Corn consists of seasoned professionals with deep experience in DeFi, having previously participated in and led the development of notable projects such as Badger, Code4rena, Slingshot, and 0xBow. This expertise provides a solid foundation for Corn's success and gives the project a unique advantage within the DeFi space.
Overall, Corn's success in the seed funding stage and the anticipated strategic investment from top-tier institutions like HTX Ventures strongly demonstrate the market's keen interest in this innovative Bitcoin yield network.
—Polychain Capital
Polychain Capital is a leading cryptocurrency investment fund focused on supporting blockchain technology and decentralized finance (DeFi) projects. Founded in 2016, Polychain Capital is renowned for its early-stage investments in innovative blockchain projects. The company aims to drive the growth of the entire cryptocurrency ecosystem by investing in high-potential blockchain startups.
—Binance Labs
Binance Labs is the venture capital and incubation arm of Binance, the world's leading cryptocurrency exchange. Since its inception in 2018, Binance Labs has been dedicated to identifying and supporting early-stage blockchain projects, helping them to grow and develop. Binance Labs' investment portfolio spans multiple blockchain sectors, supporting over 300 projects, ranging from infrastructure to application layers.
—HTX Ventures
HTX Ventures is the global investment arm of Huobi HTX, integrating investment, incubation, and research, with a focus on supporting the most innovative blockchain projects worldwide. HTX Ventures' investment scope is broad, covering multiple blockchain sectors, and it has supported numerous high-quality projects, helping them launch on the Huobi HTX exchange platform. HTX Ventures aims to promote the application and development of blockchain technology through strategic investments.
We have every reason to believe that as the Corn ecosystem continues to expand, the project is poised to play a significant role in future DeFi applications, providing robust support for unlocking Bitcoin liquidity and its real-world applications.
