Corn Network Initiates Retroactive Airdrop To Reward DeFi Users
In Brief
Corn initiated a retroactive airdrop, offering benefits to users engaged with DeFi on Ethereum as well as to Bitcoin wallet holders.
Ethereum Layer 2 network Corn initiated a retroactive airdrop as part of a cross-chain campaign. This initiative offers benefits to users engaged with decentralized finance (DeFi) on the Ethereum network as well as to Bitcoin wallet holders. Users now can receive token rewards during the pre-mainnet early access.
As outlined in the announcement, the airdrop will occur in two distinct stages: “Early Access” and “From Kernels to CORN.”
Qualifying users will get a “Signing Bonus” according to their previous engagement with specific decentralized finance (DeFi) offerings on Bitcoin and Ethereum networks. These products include Maker DAO, Ethena Labs, Ether.fi, KelpDAO, Pendle, WBTC, Thor, Babylon, Galaxy, and Spark. The snapshot was taken on July 12, 2024, at 4:20 PM EST, from Ethereum block number 20292773.
New Opportunities For Rewards Through Silo Deposits, Referral System, And Galxe Quests
For users who did not qualify for the “Signing Bonus,” there are still opportunities to earn rewards.
Users have the option to deposit funds to designated Silos to earn rewards. Only those who qualify or have a referral code are enabled to make a deposit. For every $10 deposited, individuals receive 1 Kernel per 21 minutes. A range of approved assets is available on the Silo webpage.
Additionally, specific Deposit Silos offer extra rewards, known as Juice, that are aimed at doubling the usual Kernel earning rate. At present, Juiced Silos include BTCN (2x), where deposited wBTC is transformed to BTCN, weETH (1.25x), and sDAI (1.25x).
Users have the option to generate rewards by taking part in Galxe quests, with each point earned there being equivalent to 1 Kernel.
Eligible or invited individuals are enabled to create referral codes to invite other users to participate. The referral system has four tiers of Invite Accumulation, allowing users to generate a percentage of the Kernels generated by their invitees. Users get 20% of the Kernels earned by those they directly invite, 12% from those invited by their direct invitees, 6% from the second tier of invitees, and 3% from the third tier of invitees.
Corn is a network that utilizes its hybrid tokenized Bitcoin (BTCN) as the gas token, leveraging Super Yield to direct returns back to users and protocols. BTCN is the initial tokenized Bitcoin backed one-to-one by native Bitcoin, held by a combination of centralized and decentralized custodians, smart contracts, and bridging protocols. This flexible minting approach is designed to accommodate the evolving landscape of Bitcoin storage solutions and bridges, positioning BTCN for growth and adaptability as the ecosystem develops.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
