OKX Ventures Invests in Corn’s Ethereum Layer 2 for Bitcoin DeFi Integration

OKX Ventures, the funding division of the worldwide blockchain enterprise OKX, has introduced its funding in Corn, a pioneering Ethereum Layer 2 community. This strategic funding is poised to reinforce the utility of Bitcoin throughout the Ethereum ecosystem, as reported by OKX Ventures.

Bridging Bitcoin and Ethereum

Corn is powered by Arbitrum and options integration with Coinbase, facilitating Bitcoin holders to entry Ethereum’s decentralized finance (DeFi) choices. A noteworthy innovation is Corn’s use of a hybrid tokenized Bitcoin, BTCN, as its fuel token, making it the primary Ethereum L2 community to take action. BTCN, backed 1:1 by native BTC, permits customers to leverage their Bitcoin for transactions throughout the Ethereum ecosystem whereas preserving its intrinsic worth.

Modern Options and Ecosystem Growth

The community’s improvement is centered round its distinctive staking program, using CORN tokens, often known as popCORN. This program is designed to direct yield in the direction of ecosystem purposes, guaranteeing sustainable progress and inspiring energetic group participation. This strategy aligns with Corn’s imaginative and prescient of making a safe and sustainable DeFi setting for Bitcoin customers.

OKX Ventures’ Strategic Position

OKX Ventures’ funding in Corn underscores its dedication to exploring and supporting revolutionary blockchain tasks. With an preliminary capital dedication of USD 100 million, OKX Ventures is devoted to advancing blockchain expertise and fostering international business improvement. This funding in Corn represents a major step in bridging Bitcoin with Ethereum’s DeFi panorama, probably setting a precedent for future blockchain integrations.

For extra particulars on OKX Ventures and its initiatives, go to their official web page.

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