Odaily News Corn, an Ethereum L2 network focused on Bitcoin DeFi, has completed an $8.3 million community round of financing through Legion. The sale attracted 4,287 applicants for an allocation of $69 million and was oversubscribed seven times within hours.
Legion’s compliance with MiCA requirements enables Corn to meet regulatory conditions while also enabling the BTCFi Network to reaffirm the spirit of community funding and ensure a level playing field for all investors. Corn’s funding round provides the same terms to large investors (including Polychain, Tribe Capital, Amber, Laser Digital, GSR, Presto Labs, Hypersphere Ventures, Babylon Labs, Tandem by Offchain Labs) and everyday users verified through Legion.
Corn is powered by Arbitrum and provides liquidity support for BTC LST. With its hybrid tokenized Bitcoin (BTCN) as a gas token, Corn is committed to providing a safe and sustainable way to realize the potential of Bitcoin DeFi. It is worth mentioning that Corn recently launched a Bitcoin clearing house (a mechanism inspired by MakerDAO's PSM) and announced key integrations with Babylon, LayerZero and Coinbase.