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Binance CEO Encourages DeFi Projects To Migrate From Ethereum To New Binance Smart Chain
Summary: Binance CEO Changpeng Zhao invited more projects to build on Binance Smart Chain in a recent tweet, furthering his efforts to break into the DeFi space. On Thursday, September 10 Zhao announced $100 million worth of grants to support projects on the company's decentralized Binnace Smart Chain. On Saturday, September 12 the CEO responded to ...
Binance CEO Changpeng Zhao invited more projects to build on Binance Smart Chain in a recent tweet, furthering his efforts to break into the DeFi space.
On Thursday, September 10 Zhao announced $100 million worth of grants to support projects on the company's decentralized Binnace Smart Chain. On Saturday, September 12 the CEO responded to a tweet that he would like to see DeFi projects migrating over from Ethereum.
He added that he would be happy to lessen the load on Ethereum and potentially decrease gas fees on the platform as well. He later tweeted that Binance Smart Chain transaction volume reached 10% Ethereum network days after launching.
Despite encouraging projects to migrate from Ethereum to Binance Smart Chain, Zhao emphasized that the chain is not meant to replace or compete with ETH, but instead provide users with more options.
By Emily Mason
Tags: Binance,Binance Smart Chain,ETH,Ethereum
Link: Binance CEO Encourages DeFi Projects To Migrate From Ethereum To New Binance Smart Chain [Copy]
