Corn Crypto Network (CORN)

Corn is a hybrid Ethereum L2 built with Arbitrum rollup stack and powered by the Babylonchain’s Bitcoin restaking. It aims to build a more community-centric and secure ecosystem and turn Bitcoin from a “passively stacking” asset to a more active and usable asset by implementing unique fee charging and native token staking models.

It integrates Babylon chain’s Bitcoin restaking services, which allow the Corn crypto network to charge its transaction fees in Bitcoins ($BTCN) instead of $ETH, as all other Ethereum L2s do. Such a feature adds a new, unique utility of $BTC token within its blockchain while enhancing its security with Babylon protocol’s AVS services. 

$BTCN is a hybrid tokenized Bitcoin tethered to the price of a real Bitcoin in a 1:1 ratio, like BTCB or WBTC, which will be used as the main currency for paying fees within the network. Since such a role is one of the most important on the Corn Bitcoin l2, the platform utilizes a hybrid infrastructure of the biggest and most trusted custodians, Coinbase and BitGo. This way Corn network diversifies the Bitcoin custodians, preventing any deppegs of its value if one of the custodians is unable to provide liquidity for the $BTCN token. 

Finally, the Corn l2 introduces the popCORN System - a pioneering approach to structuring relationships between dApps on the chain and its crypto community. It allows users to stake their $CORN coins to receive popCORN instead of a vested version of $CORN coin. popCORN gives them voting power to decide on which DeFi app they should allocate deposited $CORN coins, thus gaining a real influence over the future development of dApps on the Corn network. 

Find more info about the Corn network governance model in its docs.

🪙 $CORN token: $CORN is a native token of the Corn Network, which will be used for votings on yields where the Corn Chain community should allocate their $CORN and earn passive income by delegating your voting power within the network. As suggested in the description of the platform’s popCORN model, its native token release and airdrop have been already confirmed, which will depend on the amount of Kernels points farmed during its current points farming campaign. 

Considering the growing attention to the network among the web3 community, our team conducted a comprehensive analysis of the Corn crypto project. Hopefully, it will help you make a more informed decision on whether it is worth joining Corn airdrop or not:

✅ Corn l2 pros:

• Great concept and design of the product, perfectly aligning with the upcoming Bitcoin restaking narrative in the space;
• Funny branding 🌽;  
• Relatively large 400K+ userbase with over $800M locked on the Corn network even before its launch;
• Presence of a security audit from Spearbit, even though the platform hasn't launched yet;
• Very High Growth Marketing score;
• Above the average SMM, and PR performances;
• A robust network of prominent backers such as Binance Labs, Polychain, and others;
• Diverse network of top-tier partners like Coinbase and multiple LRT protocols.

❌ Corn l2 cons:

• Although the token is confirmed, no tokenomics has been provided yet, meaning there is much stiffer competition for retrodrop than it could be: the amount of tokens that will be allocated for the airdrop is unknown;
• A big part of the total token supply is allocated to the team (25%);
• A large user base and TVL numbers mean you have more competition for the points farming campaign;
• A relatively low amount of funds was raised for a project from the Ethereum L2s niche ($6.7M);
• Even though the project has been audited by Spearbit, there are no other audits from any top-tier company;
• Below the average SEO and Influencer Marketing scores;
• Very weak Marketing Infrastructure;
• The team isn’t public and doesn’t have LinkedIn profiles;
• The only publicly known team member, its founder doesn’t seem to have any work record at the top tier companies.