Pell Network and Corn Integration: A New Era for BTCFi

Pell Network is excited to announce its strategic integration with Corn, a cutting-edge blockchain network built on the Arbitrum Orbit stack. This partnership sets the stage for the next evolution of BTCFi, unlocking new avenues for Bitcoin holders to tap into Ethereum’s DeFi ecosystem, while maintaining Bitcoin’s economic security. Let’s explore the integration, the value it brings, and what the future holds.

1. What Does Corn Do?

Corn is a pioneering blockchain network built on the Arbitrum Orbit stack, designed to unlock Bitcoin’s untapped potential by combining its value with Ethereum’s computational power. It empowers Bitcoin holders to seamlessly access the Ethereum DeFi ecosystem using its hybrid tokenized Bitcoin ($BTCN) as a gas token, creating a secure, efficient, and sustainable pathway to maximize Bitcoin’s utility. Corn is secured by Bitcoin (via Babylon) and Ethereum staking, offering a novel platform for Bitcoin-based financial innovation.

1.1 Core Mechanism

Corn’s core lies in its hybrid security model, which integrates Bitcoin’s robustness (via Babylon) with Ethereum staking for long-term alignment. At its innovative solution is the popCORN System, an advanced incentive model inspired by veTokenomics (introduced by Curve Finance). This system directs yield rewards to protocols chosen by $CORN stakers, ensuring alignment between users, developers, and liquidity providers. Additionally, a permissionless bribe market enables protocols to reward stakers for their votes, fostering an ecosystem that prioritizes value creation, innovation, and sustained engagement. This dual-layered mechanism ensures a self-reinforcing cycle of growth and alignment across all network participants.

1.2 Key Features

• BTCN Gas Token: A 1:1 pegged hybrid tokenized Bitcoin, backed by BTC reserves (via cbBTC and wBTC) and secured by top custodians like Coinbase and BitGo. It offers flexible minting and is designed to evolve alongside decentralized Bitcoin storage solutions.
• Bitcoin-Backed Security: Corn leverages Bitcoin’s inherent security and Ethereum staking to establish a resilient and trustworthy blockchain.
• Cross-Chain Interoperability: Facilitated by LayerZero and THORChain, enabling seamless movement of assets and interactions between Bitcoin, Ethereum, and other ecosystems.
• Innovative Bitcoin Asset Infrastructure: Tools like the Bitcoin Clearing House and BlueCorn, a collaboration with Coinbase, enhance the network’s ability to manage and utilize Bitcoin assets effectively.
• Sustainable Incentives: The popCORN System aligns incentives among stakeholders while ensuring high-quality projects are attracted to and retained in the ecosystem, creating a dynamic and innovative financial environment.

Corn’s innovative approach to combining Bitcoin’s security with Ethereum’s computational power creates a seamless bridge between two of the most influential blockchain ecosystems, positioning it as a critical player in the future of BTCFi.

2. What Does Pell Network Do?

Pell Network is the first Omnichain BTC Restaking Network, designed to extend Bitcoin’s cryptoeconomic security to decentralized applications (dApps) and services across multiple blockchain networks. By leveraging BTC restaking, Pell provides a pooled security to Decentralized Validated Services (DVSs) and creates new opportunities for BTC holders to earn additional rewards.

2.1 Core Mechanism:

Pell’s Omnichain network allows users to restake their BTC and its Liquid Staking Tokens (LSTs) to provide cryptoeconomic security to various services, protocols, and applications. This is achieved through its innovative trust marketplace, where users can choose node operators or run their own, securing DVSs and earning rewards in the process.

2.2 Key Advantages:

• Omnichain Support: Pell’s solution is compatible with various blockchain ecosystems, ensuring broader adoption and interoperability.
• Restaking: Pell unlocks the power of BTC through restaking, allowing BTC and its LST holders to earn additional rewards while securing DVSs.
• Pooled Security: Pell’s pooled security model enables the collective protection of decentralized services without the need for individual, isolated validator networks.
• Trust Marketplace: A transparent marketplace where restakers can delegate their BTC to validators and earn yield from a range of services.
• Enhancement of BTC’s Utility: By enabling BTC to secure other decentralized services, Pell greatly expands Bitcoin’s utility, turning it into a key asset in the Web3 ecosystem.

Pell’s model of restaking and pooled security framework offers DVS a unique and cost-efficient method to enhance their security, while giving BTC holders new ways to earn yield on their assets.

3. The Value of This Collaboration

The collaboration between Pell Network and Corn creates significant value by combining Pell’s BTC restaking capabilities with Corn. This partnership will unlock new use cases for Bitcoin and facilitate seamless integration between BTC and Ethereum-based DeFi services.

3.1 Benefits of the Collaboration:

• Increased Utility for BTC: Pell and Corn together enable Bitcoin holders to leverage their BTC in Ethereum’s DeFi ecosystem, unlocking yield farming, lending, and other DeFi opportunities without selling or converting their Bitcoin.
• Enhanced Security: Pell’s cryptoeconomic security model, combined with Corn’s reliance on Bitcoin’s underlying strength, ensures that both BTC holders and DeFi protocols can operate in a secure environment.
• Expansion of BTCFi: By facilitating interoperability between Bitcoin and Ethereum through a hybrid tokenized Bitcoin (BTCN), this integration deepens the use cases for BTCFi, further establishing Bitcoin as a cornerstone asset for decentralized finance.
• Empowered DeFi Builders: With Pell’s restaking technology, Corn’s network can provide decentralized security to a broader range of protocols, ensuring that DeFi builders can focus on innovation while enjoying robust cryptoeconomic security.

Together, Pell and Corn are forging a new path for BTCFi, where Bitcoin’s security and value are enhanced, and Ethereum’s DeFi ecosystem is more accessible to a broader participant.

4. Future Outlook

Looking ahead, the Pell-Corn integration marks the beginning of an exciting chapter for the BTCFi space. This partnership will continue to evolve as both networks grow, driving innovation in DeFi and Bitcoin’s utility in the Web3 ecosystem.

About Pell :

Pell: The First & Omnichain BTC Restaking Network, extending BTCFi into the cryptoeconomic security domain and fully unlocking Bitcoin’s potential.

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