🟢 Bitcorn ($BTCN)
Bitcoin, although the greatest and most censorship-resistant assets in the world, has often been referred to as a "pet rock"—a store of value with limited utility beyond holding. With BTCN, Corn seeks to change this perception by bringing Bitcoin to the forefront of DeFi. BTCN is the gas token of the Corn network, transforming Bitcoin from a passive asset into an active participant in a thriving ecosystem of decentralized applications, leveraging its security while unlocking new use cases and capital efficiency in DeFi.
What is BTCN?
BTCN, or Bitcorn, is the first of its kind, tokenized Bitcoin backed 1:1 by BTC through cbBTC and wBTC, with custody provided by Coinbase and BitGo—two of the industry’s most trusted custodians. Its flexible design anticipates the future of decentralized storage solutions and bridging protocols, ensuring BTCN can grow and adapt alongside them.
What Role Does BTCN Play on Corn?
BTCN plays a central role as the gas token of the Corn network, meaning that transaction fees and network activities are paid with Bitcoin. This fundamentally changes how Bitcoin is used in DeFi by positioning BTC as the driver of liquidity and application growth. By using BTCN, Corn provides economic security through Bitcoin's stability, while enabling financial applications to thrive in areas like automated market makers (AMMs), lending markets, and CDP Protocols, to name a few.
BTCN ensures that Bitcoin hodlers aren't limited to passive accumulation—they can actively participate in a network designed around Bitcoin while remaining exposed to this asset's growth.
Unlocking New Bitcoin-Centric Applications
With BTCN at the core of Corn, Bitcoin can now be leveraged across a wide range of DeFi applications. Builders on Corn can create more optimized, Bitcoin-focused financial applications, which unlock capital efficiency, better lending protocols, and enhanced AMMs that incorporate Bitcoin directly into their mechanisms. This makes Corn the best place to build innovative, fun, and highly efficient products centered around Bitcoin.
How Does BTCN Work?
BTCN operates through a hybrid tokenization model, backed 1:1 by BTC via cbBTC and wBTC, held in custody by Coinbase and BitGo. Designed with flexibility, this model allows for future expansion to include other Bitcoin-backed assets, decentralized custodians, or bridges.
BTCN minting is managed by the Bitcoin Clearing House, which oversees the issuance and redemption of BTCN, holding the underlying assets. This smart contract system provides transparency, enabling BTCN holders to verify Bitcoin backing and permissionless access to mint and redeem BTCN.
Although the Bitcoin Clearing House is accessible to all users, it integrates seamlessly with interoperability solutions like LayerZero, ThorCorn, and Bluecorn, enabling permissionless minting and redemption with a single click on trusted, secure platforms.
How can I get BTCN?
There are two main ways to get BTCN, either by minting it from BTC or by acquiring it on an exchange.
Minting BTCN
Users can automatically mint BTCN by bridging BTC to the Corn Network through the following paths. The interoperability solutions below are integrated with the Bitcoin Clearing House to enable a seamless and secure minting process, in one click:
- Bridging BTC directly from the Bitcoin network to Corn Maizenet through ThorCorn.
- Bridging cbBTC or wBTC from any supported Blockchain through LayerZero.
- Depositing BTC directly to the Corn Network from Coinbase, enabled by BlueCorn.
Check out the following user guides for each one of the above paths.
Acquiring BTCN
BTCN can be acquired within the Corn network from any of the available decentralized exchanges (DEXs) that support it. A list of the available DEXs will soon be available here.
Why Bring Bitcoin to the EVM?
Bitcoin is powerful but limited in terms of programmability. By tokenizing Bitcoin on Corn, BTCN brings Bitcoin into the Ethereum Virtual Machine (EVM), where it can be utilized in smart contracts, DeFi protocols, and dApps. This integration allows Bitcoin to benefit from the advanced features of Ethereum’s DeFi infrastructure.
Wrapped Bitcorn (wBTCN)
Similar to ETH with wETH on Ethereum, BTCN can be further wrapped into Wrapped Bitcorn (wBTCN) on Corn to enhance interoperability with DeFi protocols that require ERC-20 tokens.
Learn more about wBTCN and how to wrap BTCN here.
