BNB Chain Offering another Lifeline to Projects in the Murky Terra Ecosystem

BNB chain has committed to giving investment and support to projects that might want to migrate away from the troubled Terra ecosystem following one of the greatest black swan events to rock the crypto space in the recent past. 

Stader Labs Becomes the First to Join Binance Blockchain

Stader Labs is expected to become one of the pioneer Tera ecosystem projects to shift to the BNB Chain. This firm creates liquid staking solutions on four blockchains, including Near (NEAR), Solana (SOL), Hedera (HBRA), and Fantom (FTM). 

Users will now be able to stake BNB in stader and even enjoy yields via the platform. The firm will also provide a staking derivative representing the staked BNB holdings that users can employ in the DeFi protocol. 

BNB Chain Fund provides access to USD1 billion in investment and grants to potential projects that want to run on the BNB Chain Ecosystem. The team is committed to helping projects migrate from the Terra Ecosystem and will offer even more, including tokenomics, added network, and business development. 

According to Gwendolyn Regina, the BNB Chain’s investment director, the potential for the Terra ecosystem to recover is only subject to speculation and important builders will be welcomed to advance their initiatives.

“The Terra ecosystem has a lot of talented creators and developers, and our support is aimed at helping builders and teams, building new projects on the BNB Chain. Hence, we are simply interested in supporting developers and projects so that they do not miss out on future potential,” explained Regina. 

Regina added that multiple projects on the Terra ecosystem have already been contacting the BNB Chain with the intention of migrating. Some of these include Wormhole, Synapse, and Mirror Protocol. BNB is, particularly, focused on working with firms in the emerging sectors of the crypto-economy.

“BNB Chain community is also open to getting developers onboard across categories such as DeFi, NFTs, GameFi, frontier tech, infrastructure, sustainable tech, etc. We have seen significant interest from gaming companies on Terra, because of our sidechain framework, BAS, which is the go-to sidechain for an excellent gaming experience,” emphasized Regina. 

Other Blockchains Also Welcoming Terra Projects 

Binance is not the only ecosystem that is open to receiving crypto projects from the Terra ecosystem. Others, such as Telos, have announced support for the projects and developers within the Terra ecosystem. Telos is fast-tracking migrations of decentralized applications that were previously operating on the Terra ecosystem.

Polygon, an Ethereum-based scaling platform, is also receiving Terra-related projects. Ryant Watt, the CEO of Polygon, announced full support for the developer coming from the Terra ecosystem. Watt has indicated that more details about the support will be unveiled. 

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