OKX Ventures announced an investment in Corn, an Ethereum Layer 2 network built for BTCfi
Summary
ChainCatcher news, according to official sources, OKX Ventures has announced an investment in Corn, marking an important step in introducing Bitcoin applications within the Ethereum ecosystem. Corn is based on Arbitrum and integrates support from Coinbase, enabling BTC holders to easily access the Ethereum DeFi ecosystem. Through a unique, secure, and sustainable approach, Corn maximizes the potential of Bitcoin and has achieved several significant milestones, such as becoming the first Ethereum L2 network to use hybrid tokenized Bitcoin (BTCN) as Gas fees, and also the first network to implement Bitcoin security guarantees through Babylon, supporting BTC LST liquidity.At the core of Corns innovation is BTCN, a hybrid tokenized Bitcoin supported 1:1 by native BTC. This unique model allows BTC holders to use BTC to pay Gas fees within the Ethereum DeFi ecosystem, preserving the core value of Bitcoin. Users can easily cross-chain their BTC to the Ethereum ecosystem with just one click.The ecosystem development of the Corn network is driven by its CORN token (popCORN) staking program, allowing community members to direct earnings towards ecological applications.