Binance Chain Offers New Lifeline To Terra Ecosystem Projects

BNB Chain has committed to provide investment and support to projects that are mulling over migrating from the Terra ecosystem in the wake of the colossal black swan event to hit the digital asset space in recent years.

It is to be noted that the BNB Chain Fund offers access to one billion dollars in investment and grants to prospective projects looking to operate within the BNB Chain ecosystem. The team is committed to supporting projects migrating from the Terra ecosystem and will provide added network, tokenomics and marketing aid along with business development.

BNB Chain’s investment director, Gwendolyn Regina mentioned about the move to support weak projects from the Terra ecosystem. While the potential for the ecosystem to pick up is subject to much speculation, Regina mentioned that the company was looking to onboard some important builders from the Terra ecosystem.

He said,

“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.”

Notably, Binance is not the only digital asset firm offering help to troubled projects within the Terra ecosystem. Telos also declared support of developers and projects within the Terra ecosystem this week and will work to fast track migrations of DApps that were operating in the Terra ecosystem. Telos announced support in the form of investment, marketing support and technical assistance.