🟢 Bitcorn ($BTCN)

Overview

BTCN is an ERC-20 token designed to serve as the gas token of the Corn network. It is backed 1:1 by Bitcoin and offers a flexible, secure, and extensible design. Its BTC backing is enabled by its integration with the Bitcoin Clearing House, making it a critical component of Corn’s architecture. Key governance functions include minting, burning, and pausing token transfers.

Smart Contract Reference: Bitcorn Implementation

Architecture Notes

The design of BTCN is simple yet robust. As an ERC-20 token, it follows industry standards for fungible tokens while incorporating governance features like emergency pausability and controlled minting. BTCN’s architecture is built to work alongside the Bitcoin Clearing House, ensuring a smooth and transparent minting process of BTCN from wBTC and cbBTC (to begin with). The contract supports key functions like mint, mintTo, burn, and burnFrom, providing flexible control over supply while maintaining strict security protocols.

Governance Notes

BTCN is governed through a Governance System that controls minting, burning, and pausing functionalities. The requiresAuth modifier ensures only authorized actors can invoke these key operations. Governance permissions are designed to be flexible but secure. The token is also upgradeable via a UUPS proxy, allowing for future improvements without compromising security.

Read more about the robust governance system that enables BTCN's flexibility and security in the Governance section.

Wrapped Bitcorn

Just like with ETH on Ethereum, BTCN can be wrapped within an ERC20 smart contract on a 1:1 basis to enable its interoperability within protocols on Corn. The Wrapped Bitcorn page has more information.