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Binance encourages devs to migrate from Terra

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As the Terra team tries to save their network and LUNA cryptocurrency after the TerraUSD (UST) ecosystem and stablecoin collapse, Binance sent an “invitation” to Terra developers to migrate to its BNB Chain network.

The announcement comes just days after Polygon Studios CEO Ryan Wyatt offered to help the projects. As reported by Cryptheory, Wyatt stated that Polygon is already in close negotiations with some Terra network protocols to help them quickly migrate to their network.

And apparently, the same is already happening with the BNB Chain network.

Terra Devs Invited to Binance Network

According to an announcement published by the Binance network, BNB Chain already has more than 1,300 dApps and more than 1 million daily active users.

Now, the network wants to further expand its reach by attracting developers from the Terra network, which will most likely be bifurcated.

“BNB Chain is a thriving ecosystem filled with enthusiasts who want to create products that help people,” the publication reads. “That’s why today we want to support the community during these difficult times and reach out to Earth ecosystem projects affected by the turbulent events of the past week.”

In the post, the BNB Chain team stated that the Terra ecosystem has some of the most “talented teams dedicated to building meaningful products and empowering their communities.”

In this sense, the BNB Chain community is willing to “wholeheartedly welcome” the “earthlings” into the BNB ecosystem.

According to the team, there are several advantages to projects based on the BNB Chain. As an example, the team cites direct access to a “thriving and active community” supported by Binance.

Additionally, the network has committed to helping devs connect with other major cryptocurrency companies such as CoinMarketCap and Trust Wallet.

“We are ready to provide dedicated support for projects that migrate from the Terra ecosystem to build on BNB Chain. Teams will have privileged access to network support, marketing, business development and tokenomics support,” the team said.

BNB Chain further said that it is making progress on decentralization, doubling the number of validators from 21 to 42.

BNB Chain’s chief investment officer, Gwendolyn Regina, stated that they are ready to help on their journey to create innovative dApps:

“We know you want to build. That’s why we’ve put in place a solid support infrastructure to help you do that. We invite you to contact us to learn more about how you can build the world’s most used blockchain in terms of users and transactions.”

Migration has already started

One of the projects that has already agreed to migrate from Terra to BNB Chain was Stader Labs. The project stated that it is honored to join the BNB Chain family.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.
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