BNB Chain offers another lifeline to Terra ecosystem projects

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Binance will welcome the migration and support projects from the Terra (LUNA) ecosystem after this month’s highlight of the decentralized finance (DeFi) platform and its algorithmic stablecoin.

BNB Chain has committed to providing investment and support to projects that are considering migrating from the Terra ecosystem in the wake of the biggest Black Swan event in the cryptocurrency space in recent years.

Stadar Labs will become one of the first Terra Ecosystem projects to begin integration with BNB Chain. The firm builds liquid staking solutions across four blockchains, Solana, NEAR, Phantom and Hedera, and is set to offer BNB liquid staking through a newly announced partnership.

Users will be able to stake BNB in ​​Stratter and receive rewards through the platform, while the firm will also issue a staking derivative representing BNB holdings, which users can then use in the DeFi protocol.

The BNB Chain Fund provides access to up to $1 billion in investments and grants to potential projects looking to operate within the BNB Chain ecosystem. The team is committed to supporting projects migrating from the Terra ecosystem and will provide additional network, tokennomics and marketing support as well as business development.

Gwendoline Regina, investment director at BNB Chain, spoke to Cointelegraph about the move from the Terra ecosystem to support ailing projects. While the prospect of the ecosystem recovering is subject to much speculation, Regina said the firm was looking to include some key builders from the Terra ecosystem:

“There are a lot of talented creators and developers in the Terra ecosystem, and our support is aimed at helping builders and teams who build new projects on the BNB chain. Therefore, we are only interested in supporting developers and projects so that Let them not miss out on the possibilities of the future.”

Regina also confirmed that a handful of projects within the Terra ecosystem were interacting with the BNB chain prior to its collapse, including Mirror Protocol, Synapse, and more.

wormhole. Of particular interest to BNB Chain are firms operating in emerging sectors of the crypto-economy – a space in which the Terra developers were gaining momentum, according to Regina:

“The BNB Chain community is also open to include developers in categories such as DeFi, NFTs, GameFi, Frontier Tech, Infrastructure, Sustainable Tech, etc. We have seen significant interest from gaming companies on Terra due to our sidechain framework, BAS, which The well-known sidechain for an excellent gaming experience.”

related: Polygon and other Terra Blockchain projects extend helping hands

Binance is not the only cryptocurrency firm providing assistance to distressed projects in the Terra ecosystem. Telos this week also announced support for developers and projects within the Terra ecosystem and will work to track the rapid migration of decentralized applications operating across the Terra ecosystem – including investment, marketing support and technical support.

Ethereum-based scaling platform Polygon is also opening its arms to Terra-based projects, with CEOs Ryan Watt and Sandeep Nelwal announcing migration support on Twitter. Cointelegraph reached out to Polygon for comment – ​​with Watt set to confirm further details for interested expatriate parties from the Terra ecosystem.