BNB Chain Lends Helping Hand to Terra Developers

The BNB Chain community has invited developers of the defunct Terra ecosystem to migrate or create new DeFi applications on Binance’s blockchain platform. The move comes just a week after the massive crash of the Terra ecosystem. Binance Extends Support to Terra Projects BNB Chain announced its intention to provide investment, community, and infrastructural support to developers of the Terra ecosystem. This includes marketing, business, and token development, support for community growth, and investment from BNB Chain’s $1 billion fund. Stader Labs will become one of the first Terra ecosystem projects to integrate with the BNB Chain. The firm builds liquid staking solutions across Solana, Near, Fantom and Hedera, and is set to offer BNB liquid staking through a newly announced partnership. “We at Stader will allow users to stake BNB and get the staking yield via Stader. Additionally, Stader issues a derivative BNB representing the staked BNB that users can utilize in DeFi protocols. This can unlock billions of dollars of staked BNB and fuel the DeFi ecosystem on the BNB Chain,” Amitej Gajjala, CEO of Stader Labs, explained. Other Blockchains Also Luring Terra Projects Binance is not the only crypto firm offering help to projects within the Terra ecosystem. As reported by Cryptoknowmics, Polygon, Fantom and other blockchain platforms are also trying to lure Terra-based projects, following the catastrophic collapse of its ecosys...