Closing week, OKX Ventures, the investment arm of global blockchain service provider OKX, printed a brand new investment in Corn, an Ethereum Layer 2 resolution. This partnership would possibly per chance well help join Bitcoin (BTC) with the Ethereum ecosystem to elevate its yell in decentralized finance (DeFi) protocols on Ethereum.
📢 OKX Ventures invests in Corn: an Ethereum Layer 2 network designed to unlock BTC utility in DeFi! 🚀@use_corn lets BTC holders win admission to Ethereum DeFi, utilizing BTC as gasoline thru BTCN—a tokenized hybrid Bitcoin. 🌐💸
Be taught more 👉https://t.co/zSpeooIahw#Bitcoin #Ethereum… pic.twitter.com/skY9LIxRN9
— OKX Ventures (@OKX_Ventures) November 12, 2024
About OKX Ventures
OKX, for its fragment, is a trading platform for the blockchain industry that invests in growing new formidable projects globally thru OKX Ventures. The corporate fosters innovation by offering global resources and industry insights to early-stage blockchain projects to place long-timeframe allege for the crypto condominium.
Bringing BTC Utility to Ethereum DeFi
Corn is in accordance to the Arbitrum Layer 2 resolution and linked to Coinbase, permitting BTC house owners to yell DeFi capabilities on the Ethereum network. The mission’s technique ensures that Bitcoin will also be employed as a worth store and fragment of DeFi operations.
By investing in Corn, OKX Ventures reinforces its commitment to increasing the chance of blockchain expertise by connecting two of basically the most influential crypto ecosystems: Bitcoin and Ethereum.
The BTCN Innovation: A Hybrid Tokenized Bitcoin
The core asset of the infrastructure is the BTCN, which is a Bitcoin-loved digital asset with both fairness and token characteristics. BTCN is pegged 1:1 with BTC, permitting its users to pay BTC as gasoline fees on Corn’s Ethereum Layer 2 resolution. This innovation preserves the worth of BTC while enabling it to combine seamlessly into the Ethereum DeFi condominium, the main of its sort for the industry.
Bridging with Corn is a one-click course of, that manner that it is fully uncomplicated for BTC holders to transfer their BTC to the Ethereum network, growing new possibilities for BTC house owners to employ their assets one day of the DeFi condominium.
Sustainable Declare Thru Staking and Yield Programs
The Corn ecosystem encourages growth thru a staking program that entails its native asset: the CORN token called popCORN. Coin stakeholders can moreover distribute staking rewards against certain DeFi capabilities, ensuring more traffic and right organic allege within the ecosystem. This construction encourages users to participate and represents the probability that ecosystem projects can abolish long-timeframe advantages for users in due course.
A Strategic Switch in Blockchain Funding
This investment by OKX Ventures is a step per its mission of investing in innovative blockchain projects that can rework the industry. OKX Ventures targets to make investments in projects that perform obvious traits one day of the blockchain industry to enhance its global vogue and allege, backed by a USD 100 million investment. Corn, the main Ethereum Layer 2 that makes use of tokenized Bitcoin as gasoline, will also be seen as a treasured addition to OKX’s portfolio.
