Post

corn

Aug 20 • 21 tweets • 6 min read • Read on X

Introducing Corn 🌽: The Super Yield Network Rooted In Digital Gold.

Announcing our $6.7M seed round led by @polychaincap w/ support from @BinanceLabs @hiFramework @ABCDELabs & other great partners.

🧵 Thread below shows you how to get early access: 🧵

Sadly, crypto has lost the plot. Most networks are ghost chains w/ misaligned actors. Worse, BTC is still a pet rock.

Our intent:
🌽 Make it easy to put your Bitcoin to work
🌽🌽 *Actually* align users, apps & token holders
🌽🌽🌽 Have fun and stay corny

Bitcoin is gas.

Corn is the 1st Ethereum L2 that uses Bitcoin as the gas token.

🟢 BTCN is our hybrid tokenized Bitcoin, backed 1:1 by native BTC, and not bound to a single centralized custodian or bridging solution...

...Instead, BTCN extend's its minting rights to multiple trusted custodians, smart contracts, and/or bridging protocols.

This empowers hodlers & protects their choice of how to store their native BTC as we create the go-to app ecosystem to unlock the value your BTC represents.

What have we learned from DeFi?

🌽 Users want great apps
🌽 Apps want liquidity -- to make them sustainable & great for users
🌽 Liquidity providers want, above all, YIELD!

If only we had a design that struck a balance btw the multi-dimensional wants of users, apps and LPs!

With these delicious facts in mind...

Corn is "The Super Yield Network."

Inspired by veTOKENOMICS, pioneered by @CurveFinance, each block, the network emits $CORN incentives, that are then directed to protocols chosen by $CORN stakers.

Thus, Corn is the OG "veCHAIN,"

Yield on Corn consists of 2 tokens:
🟢 $BTCN (1:1 tokenized BTC) -- generated via network txn fees
🌽 $CORN -- native network emission

$CORN stakers decide where yield is directed.

As if it didn't pay enough to be a $CORN staker, voters will also enjoy a native bribe market, offering extra incentives to vote for certain apps.

You have a choice!
▪️ Vote to give $CORN yield to your favorite app
▪️ Delegate your vote to the Farmers Market for added incentives

It's simple...

🌽 $CORN holders are incentivized to stake to earn yield and/or bribes.
🌽 Protocols are incentivized to acquire and stake $CORN, as they wish to drive liquidity to their apps.
🌽 Users enjoy apps flush with liquidity.

The Ultimate Crop Circle 🟠

🚜 Corn will incubate a vibrant ecosystem of apps and communities, but this time BTC will be in the driver’s seat. 🚜

Gas tokens nearly always are the hub for liquidity on their chain and introduce many app integrations. We intend for this to again be the case on Corn.

Corn was founded by long time DeFi builders @spadaboom1 & @0xzak

...the minds behind projects like @BadgerDAO, @SlingshotCrypto, @code4rena & @0xbowio.

We're are proud to have the support of leading investors like:
🚜 @polychaincap 🚜 @BinanceLabs
🚜 @ABCDELabs 🚜 @hiFramework
🚜 @symbolicvc 🚜 @Ventures_HTX
🚜 @RelayerCapital

Also, we welcome the support of key investors we're also building with like:
🌽 @OffchainLabs
🌽 @babylon_chain
🌽 @SteakhouseFi
🌽 @bulletlabs

Noteworthy founders and builders helping to grow Corn:
🧑‍🌾 @udiWertheimer @sandeepnailwal
🧑‍🌾 @0xSami_ @SmokeyTheBera
🧑‍🌾 @PrimordialAA @andrewhuan @TEBplace
🧑‍🌾 @dcfgod @yorgosv_ @MonetSupply
🧑‍🌾 @hexonaut @whitewaterlabs @mozaik_capital
🧑‍🌾 @AgentChud @notscottmoore @etherbk & more!

Now, the juicy details for our Pre-Mainnet Airdrop...

SET YOUR REMINDER for the live kick off event (hosted here on X), where we'll be unveiling the exclusive eligibility criteria and participation details.

During the initial airdrop phase, only qualifying users will be added to the Kernel Eligibility List: a list of thousands of power-DeFi users who've engaged with 1 or more of our partner protocols in the past 12 months.

FOLLOW @use_corn and 🔔📲x.com/i/spaces/1BdxY…

⭐ Building on the network? You're a Corn Star!
🧑‍🌾 Part of the community? Hey, Farmer.
🍿 Stake your Corn in the Microwave? You've made popCORN.
👶 Joining our incubator? You're among the Children of the Corn
🟢 BTCN = Bitcoin? Nope, BitCorn 🌽