DAO Proposal Catches CZ’s Attention

The Euler community has accepted a proposal from the BNB Chain Foundation to expand the Ethereum-based lending platform to BNB Chain.

The community vote, which went 83% in favor of the expansion, even drew the notice of Binance CEO Changpeng Zhao (CZ), who tweeted a link to the proposal without further comment.

The proposal by AdamBNB on behalf of the BNB Chain Foundation outlines various benefits of the blockchain, such as its numerous Decentralized Finance (DeFi) protocols and vibrant retail community.

“For our chain, the benefit of bringing in Euler is clear. Being able to offer our users one of the lending projects that has not only been consistently delivering in recent months but has also managed to solve various inefficiencies in the lending market ... ” according to the proposal “... BNB users would greatly benefit from Euler. The landing of a new player of Euler’s level would also encourage competition in the ecosystem, which will bring us one step closer to the path of efficiency and increased security.

Euler’s Total Value Locked on Ethereum of $516 million would make it the third-largest DeFi protocol on BNB Chain, behind only BNB Chain native lending platform Venus Protocol and Decentralized Exchange (DEX) PancakeSwap.

Check out our earlier BSC News interview with Euler Labs COO Brandon Neal.

What is BNB Chain:

Previously known as the Binance Smart Chain (BSC), BNB Chain is a community-driven, decentralized, and censorship-resistant blockchain that is powered by Binance. It consists of BNB Beacon Chain and BNB Smart Chain, EVM compatible and facilitating a multi-chain ecosystem. Through the concept of MetaFI, BNB Chain aims to build the infrastructure to power the world’s parallel virtual ecosystem.

Find more about BNB Chain here:

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