Polychain invests into Corn, the First Bitcoin-Centric Yield Network

Corn, a new Ethereum Layer-2 network that uses its tokenized Bitcoin, BTCN, as gas, has launched from stealth after a $6.7 million seed round led by Polychain Capital. Other investors named include Binance Labs, Framework Ventures, ABCDE, Symbolic Capital, HTX Ventures and Relayer Capital. Corn says it emits its CORN token to apps, with stakers directing emissions, and describes BTCN as a Bitcoin token backed 1:1 by native Bitcoin with minting rights spread across multiple custodians, smart contracts and bridging protocols. An Early Access Airdrop is planned for eligible Bitcoin and Ethereum wallets that used partner protocols in the past year.