Binance Labs, the venture capital and incubation arm of Binance, has announced a strategic investment in Corn, a groundbreaking Ethereum L2 network aimed at simplifying the use of Bitcoin in decentralized finance (DeFi). Corn is the first hyper-yield network built around Bitcoin, with the goal of creating a DeFi hub where Bitcoin can thrive.
A key innovation from Corn is the launch of BTCN, a hybrid tokenized Bitcoin designed to enhance Bitcoin’s utility in DeFi. BTCN integrates multiple custodians, smart contracts, and bridge protocols to deliver a more secure, scalable, and versatile solution.
Corn’s network also features a unique yield distribution system. Stakers of CORN tokens receive popCORN, which grants them control over the flow of BTCN and CORN yields.
Yi He, Co-Founder of Binance and Head of Binance Labs, expressed enthusiasm for the investment, stating, “Binance Labs is committed to championing early-stage innovation that delivers meaningful and sustainable impact. We look forward to supporting Corn as they develop a utility-driven ecosystem centered around Bitcoin, enabling it to be more effectively and efficiently utilized in DeFi.”
