Binance will celebrate the migration and offer support for projects from the Terra (LUNA) ecosystem following the unveiling of this month’s distributed financial system (DeFi) platform and its stablecoin algorithm.
BNB Chain is committed to providing investment and support to projects that are being considered for relocation from the Terra ecosystem in the wake of the biggest black swan event affecting the cryptocurrency in recent years.
Stader Labs will be one of the first Terra ecosystem projects to begin integrating the BNB chain. The company builds floating betting solutions on four blockchains, namely Solana, NEAR, Fantom and Hedera, and plans to offer BNB hydraulic shares through a recently announced partnership.
Users will be able to gamble BNB in Stader and get returns through the platform, while the company will also issue a stock derivative representing the BNB holding that users can then use in the DeFi protocol.
The BNB Chain Fund offers access to $ 1 billion in investment and grants for upcoming projects seeking to operate within the BNB Chain ecosystem. The team is committed to supporting projects moving from the Terra ecosystem and will provide increased networking, signage and marketing support as well as business development.
Gwendolyn Regina, BNB Chain’s chief investment officer, spoke to the Cointelegraph about the move to support weak projects from the Terra ecosystem. Although the ecosystem’s potential for recovery depends on much speculation, Regina said the company is looking for some important terrains from the Terra ecosystem:
“The Terra ecosystem has many talented authors and developers and our support is aimed at helping these workshops and teams build new projects in the BNB chain. Therefore, we are simply interested in supporting developers and projects so that they do not miss out on future opportunities.
Regina also confirmed that a handful of projects within the Terra ecosystem had been in contact with the BNB chain before it collapsed, including Mirror Protocol, Synapse and
Wormholes. Of particular interest to BNB Chain are companies operating in the growing sectors of the cryptocurrency economy – a space where Terra developers were gaining momentum according to Regina:
“The BNB Chain community is also open to getting developers into categories such as DeFi, NFTs, GameFi, Border Technology, Infrastructure, Sustainable Technology, etc. We have seen significant interest from gaming companies on Terra, due to our side chain framework, BAS, which is the main side chain for an excellent gaming experience.
Connected: Polygon and others lend a helping hand with Terra blockchain projects
Binance is not the only cryptocurrency company offering assistance with projects charged within the Terra ecosystem. Telos also announced support for developers and projects within the Terra ecosystem this week and will work to accelerate the deployment of distributed applications operating in the Terra ecosystem – including investment, marketing and technical assistance.
For Terra community projects that want a common chain, choose @ 0xPolygon POS chain (ZKRollup coming soon)
If you are looking for a special app chain, you can go to SUPERNET
-No strange restrictions on confirmers / bridges
-Future possibilities for making your chain an arrangement
-Eth community love https://t.co/Ek803OZQlL
– Sandeep – Use a polygon stripe (@sandeepnailwal) May 15, 2022
Ethereum-based scaling platform Polygon is also opening its arms to Terra-based projects, with CEO Ryan Watt and Sandeep Nailwal announcing streaming support on Twitter. Cointelegraph reached out to Polygon for comment – with Watt confirming more information for interested Terra ecosystem carriers.
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