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.
In A Tweet Strader Lab Announced Thet They Will Be Joining BNB Chain Falimi Soon
BNB Chain confirmed the news that they believe Web3 will come out of these difficult weeks stronger than ever
“It is a difficult time for many in the market, and we at BNB Chain want to welcome our fellow members of the wider crypto community into the BNB Chain ecosystem. We know you want to build, and we’ve put in place a solid support infrastructure to help you do so. We invite you to reach out to us to learn more about how you can build on the world’s most-used blockchain in terms of users and transactions, as well as how we can assist you in your journey to create the next wave of innovative crypto dApps,” Gwendolyn Regina, Investment Director at BNB Chain stated in an exclusive press release.
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.
“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.”
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