After Bitcoin-based Ethereum layer 2 corn reached $100 million (approximately KRW 134.7 billion) in deposits at the end of last month, it said through Official revealed.
Con, which was launched last August with investment from Polychain and others, is characterized by using Hybrid Tokenized Bitcoin (BTCN) as gas and returning network profits to users and protocols.
Founded by DeFi builders who founded Badger, Code4rena, Slingshot, 0xBow, etc., Con created ‘Crop Circle’, a structure that integrates users, apps, and token holders within the ecosystem and provides mutual benefits, and BTCN The goal is to make digital assets easy to use.
BTCN is the first tokenized Bitcoin and is not tied to a single centralized custodian and bridging solution, granting minting authority to multiple custodians, smart contracts, and bridging protocols. This provides stronger security, transparency, and capital efficiency beyond simple token utility. In addition, it seeks to build an ecosystem that ensures continuous profits for users and encourages liquidity to maintain demand for apps and allow network profits to flow back to users and protocols.
Con presents a way for Bitcoin holders to utilize their assets more efficiently through integration with Pendle, Solv, and Babylon. They are transforming Bitcoin from a simple store of value into a core asset for DeFi.
On the 2nd, they announced collaboration with blockchain-based platform Veda and revealed additional revenue generation paths.
Financial investment products may result in loss of principal as a result of the investment, which is attributable to the investor.
Source: www.nextdaily.co.kr
