BTCFi project Corn raises $8.3 million through Legion, oversubscribed seven times

Odaily Odaily News: Corn, an Ethereum L2 network focusing on Bitcoin DeFi, completed a $8.3 million community round of financing through Legion. The sale attracted 4,287 applicants, applying for an allocation of $69 million, and was oversubscribed seven times within hours. Legion complies with MiCA requirements, allowing Corn to meet regulatory conditions, while also enabling the BTCFi network to reaffirm the spirit of community financing and ensure a fair competitive environment for all investors. Corn's financing round provides the same terms to large investors (including Polychain, Tribe Capital, Amber, Laser Digital, GSR, Presto Labs, Hypersphere Ventures, Babylon Labs, Tandem by Offchain Labs) and everyday users verified by Legion. Corn is powered by Arbitrum and can provide liquidity support for BTC LST. With its hybrid tokenized Bitcoin (BTCN) as a gas token, Corn is committed to providing a safe and sustainable way to realize the potential of Bitcoin DeFi. Notably, Corn recently launched a Bitcoin clearinghouse (a mechanism inspired by MakerDAO’s PSM) and announced key integrations with Babylon, LayerZero, and Coinbase.