Terra projects may choose to build on the BNB Chain.

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Last Updated on May 19, 2022 by Bitfinsider

Following this month’s unraveling of the decentralized finance (DeFi) infrastructure and its algorithmic stablecoin, Binance will welcome migration and promote projects from the Terra (LUNA) ecosystem.

In the aftermath of the biggest black swan event to impact the cryptocurrency world in recent years, BNB Chain has committed to giving finance and help to projects that are considering migrating from the Terra ecosystem.

The BNB Chain Fund provides prospective enterprises with $1 billion in funding and grants to operate within the BNB Chain ecosystem. The Terra team is committed to assisting companies migrate from the Terra ecosystem by providing further network, tokenomics, and marketing help, as well as business growth.

Binance isn’t the only cryptocurrency company that is assisting Terra’s ailing initiatives. Telos also stated this week that it will support Terra ecosystem developers and initiatives, as well as invest in, promote, and provide technical assistance to Decentralized Applications that were previously running in the Terra environment.

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