New proposal to Terra developers today. As the reaction to the collapse of UST and LUNA tokens that began on May 10 continues, the world’s most famous crypto exchange, Binance, has offered Terra developers a place on their team.
Terra has been unable to recover since its historic fall last week. For those who haven’t been following the Terra story, both tokens (LUNA, the volatile token, and UST, the associated algorithmic stablecoin) are facing an unprecedented drop, so much so that their respective prices are almost close to 0. A situation that has rarely been seen in our ecosystem.
The founder of the project, known as Do Know, is desperately trying to save the project while most of the world’s regulators are questioning the risks caused by the use of stablecoins, which are not yet regulated.
It is in this context that Binance’s proposal to Terra’s developers comes about. But what would be the point of Terra’s developers joining the Binance team? And vice versa?
Why bring the Terra developers back to Binance?
Binance seems to be taking advantage of the situation by offering Terra developers to join their team. Specifically, Terra’s developers could join the Binance Smart Chain’s team of “builders”.
Is it pure opportunism that Binance is making this proposal?
One can legitimately wonder about the motives behind this request. Binance is certainly trying to get active and promising developers for its team.
The proposal took the form of an announcement dated 17 May. In it, the NBB Chain states that it is committed to providing “special support for projects that migrate from the Terra blockchain”. In addition, the offer would include support in terms of marking, business and token development and community growth.
According to several foreign media, Binance is trying to expand its range of DApps built on the BNB blockchain. Gwendolyn Regina, investment director of the BNB channel, spoke about this. She said that if Terra’s developers join Binance’s BNB blockchain build team, it would be possible to “create the next wave of innovative crypto DApps”.
Some have already responded in the affirmative as Stader Labs has publicly announced that it is joining the Binance team.
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)
🧵👇 pic.twitter.com/3WNm3EBXxm
