While Terra's team is trying to salvage what is left of the once top 10 crypto projects, more and more people are luring or being lured from the infamous project to be useful somewhere else.
Of course, crypto giant Binance could not let such an appealing opportunity pass it by and has moved to attract more active developers to join its BNB Chain "builders" team.
That is why an announcement was made on May 17 to support "Terrans" in terms of finance and infrastructure. In that statement, BNB Chain promised special backing for projects that migrate from the Terra blockchain. This includes marketing, business and token development, support for community growth and investment from BNB Chain's $1 billion fund.
The aim of such a generous offer is clear. Attracting developers from once very promising crypto projects will help Binance expand its line of dApps built on the BNB Chain, which in turn will lead to a boost in the number of active users and a corresponding increase in the popularity of the blockchain.
The investment director at BNB Chain, Gwendolyn Regina, clearly gave voice to this idea, stating that they are ready to assist "Terrans" in their journey to "create the next wave of innovative crypto dApps."
The first wave of migration has already begun
Stader Labs was one of the first projects to accept the invitation and announced that they are honored to join the BNB Chain family. The liquidity provider has set a goal of 1 billion users and has expressed confidence that development on the BNB Chain will help it achieve its goal.
At Stader, we're honored to join the @BNBCHAIN fam soon.— Stader Labs (@staderlabs) May 17, 2022
Here's why we're so bullish on our new BNB Chain staking chapter:
(Hint: 1 BILLION people are about to benefit from this)
To summarize, it can be said that despite some feelings of pity for the honest and hardworking employees of Terra, the battle for dominance in the Web3 space has become even more heated and interesting.