🏚️ Bitcoin Clearing House

The Bitcoin Clearing House is a native Corn application powered by permissionless smart contracts, allowing users to mint BTCN by depositing approved collateral assets. This trustless system enables seamless BTCN minting, starting with two of the most secure synthetic Bitcoin assets in DeFi: cbBTC and wBTC.

Minting BTCN

At launch, BTCN can be minted on a 1:1 basis by depositing either cbBTC (Coinbase Bitcoin) or wBTC (Wrapped Bitcoin). These two assets represent some of the most trusted collateral types for minting BTCN, ensuring security and efficiency.

Coinbase Bitcoin (cbBTC)

cbBTC is issued by Coinbase, one of the world’s most trusted cryptocurrency exchanges. Coinbase has over a decade of experience in Bitcoin custody, securing billions of dollars in assets for users and institutions. cbBTC brings this trust and security into the Corn ecosystem, making it a robust collateral for BTCN minting.

Wrapped Bitcoin (wBTC)

wBTC is a leading synthetic Bitcoin asset in DeFi, representing Bitcoin on the Ethereum network. It has long been considered the most secure synthetic Bitcoin, holding roughly 1% of Bitcoin’s total circulating supply at its peak. Wrapped by BitGo, through one of its network of trusted custodians, wBTC is used extensively across DeFi for trading, lending, and more.

The Future of the Bitcoin Clearing House

As Corn continues to grow, the Bitcoin Clearing House will evolve into the most efficient and decentralized platform for trading Bitcoin-pegged assets. It will become a hub for seamless swaps and efficient trading of various BTC derivatives, further enhancing the utility and reach of BTCN within the DeFi ecosystem.