As time passes, Project Terra’s rescue plan begins to look like a bad remake of Titanic. With Captain Do Kwon still firmly clinging to the rudder of the ship, he shouted to anyone who would listen that he was still the master of this world. But he alone seems to see the increasingly improbable destination he promises to reach. Faced with this, many developers and project leaders have already started climbing into rescue channels leased by some of the competing blockchains. With the latest arrival in this segment of the digital rescue, the former BNB Chain network of the Binance platform.
Project Terra’s downfall has been swift and its latest bursts seem determined to linger in time. With a possible restart in the form of TERRA2 certainly not so simple as expected. They are all getting rid of their stablecoins, but at the same time they are getting rid of most of their promising protocols. Because even with all faith in the world, the current catastrophe is not a fertile ground for digital construction.
This is why many blockchains are trying to incentivize the developers of the Terra project to move within their own ecosystem. With Polygon Network (MATIC) at the helm of this new type of funeral procession for over a week already. And other simpler, but less common options, such as the Juno Network (JUNO) that take advantage of some technical similarities. A list that lacks one of the current major blockchains, the BNB chain. But it is clear that the latter is also ready to become a hospitable land.
BNB Series – Support Terra Network Projects
The more time passes, the less likely Terra will be saved. First, because the cryptocurrency sector cannot take time to wait indefinitely for this renaissance, which is always more hypothetical than real. Especially in the face of a market whose direction remains uncertain, despite a possible technical recovery in the short term. And with a large number of projects forced to stop, within one of the most promising ecosystems at the moment…at least a few weeks ago. This is in common and diverse fields such as DeFi, encrypted gaming, or NFTs.
A wealth of development rival blockchains do not fail to attract. With a wide variety of software, in order to start the migration it is less and less difficult to sell to Terra network developers. As the latest arrival in this race, BNB Chain (BNB) is keen to “support” this ongoing transformation. This is confirmed by the recent statements of Gwendolyn Regina, Director of Investments in this recently separated structure from the Binance platform.
” Terra ecosystem contains many talented creators and developers. Our program aims to help these builders and teams create new projects on the BNB chain. Therefore, we are simply keen to support them so that they can realize their future potential.. »
BNB Chain – $1 Billion Support
In order to support this immigration program, BNB Chain wants to release 1 billion dollars. This is in order to provide grants to Terra Network projects that decide to operate within their own ecosystem. With some help dedicated more specifically to implementing tokens or business development and marketing campaigns. And as the first project to officially start this transition, the Stader Labs (SD) Protocol. Solve liquid freezing It is already on many blockchains such as Solana (SOL), Near (NEAR) or even Fantom (FTM).
” The BNB Chain community is also open to qualified developers in categories such as DeFi, NFTs, GameFi, Frontier Tech, Infrastructure, Sustainable Technology, and more. We have seen a lot of interest from gaming companies in Terra, due to the BNB Chain Application Sidechain (BAS) framework being the go-to chain for a great gaming experience.”
Gwendolyn Regina’s opportunity to sell a brand new Sidechain Edition developed by BNB Chain. This is to provide secondary networks specifically dedicated to some resource-intensive features, such as games. A sector in full development since the end of last year and this historic collision between NFTs, gaming and cryptocurrency.
A highly motivating migration campaign that should motivate some “talented developers” to cross these digital boundaries. In particular, according to Gwendolyn Regina, the protocols had already interacted with the BNB chain before the Terra network collapsed. A dynamic that certainly won’t help the dying Terra ecosystem rise from its ashes. But is that really possible? Is this really the will to compete?