In the wake of the biggest black swan event to hit the cryptocurrency space in recent years, BNB Chain (BNB) has committed to providing investment and support to projects that are considering migrating from the Terra ecosystem. Binance will welcome migration and offer support to projects from the Terra (LUNA) ecosystem.
One of the first Terra ecosystem projects to integrate with the BNB Chain will be Stader Labs. The company creates liquid staking solutions for four blockchains: Solana (SOL), Near (NEAR), Fantom (FTM), and Hedera (HBAR), and is now set to offer BNB liquid staking as part of a recently announced partnership.
Users will be able to stake BNB in Stader and receive yields through the platform, as well as a staking derivative representing the staked BNB holdings, which they can then use in DeFi protocols.
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The BNB Chain Fund gives potential projects operating within the BNB Chain ecosystem access to $1 billion in investment and grants. The Terra team is committed to assisting projects migrating from the Terra ecosystem by providing additional network, tokenomics, and marketing support, as well as business development.
As Per Gwendolyn Regina, BNB Chain’s investment director;
“The Terra ecosystem has a lot of talented creators and developers, and our support is aimed at helping those 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.”
Regina also confirmed that a few Terra ecosystem projects, including Mirror Protocol, Synapse, and Wormhole, were interacting with the BNB Chain prior to its demise. Firms working in emerging sectors of the crypto-economy — a space where Terra developers were gaining traction — are of particular interest to BNB Chain.
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