Symbiosis Launches Powerful SIS Governance Token For BNB Chain Interoperability

We’ve gone and done it – $SIS token is now launched on the @BNBCHAIN

I mean, who in their right mind would even consider a cross-chain protocol without a token that exists in multiple networks?

Not us, that’s for sure! ?https://t.co/Dg5ZejDGH4 pic.twitter.com/UfAhcrNmTM

— Symbiosis (@symbiosis_fi) March 1, 2023

This move will also allow related token use cases to be executed on BNB. This implementation comes after the Symbiosis SIP-2 proposal was passed with unanimous support last month. According to the proposal, the protocol will transfer SIS tokens from Ethereum to the BNB chain and implement veSIS logic on BNB.

Implementing SIS governance token on BNB chain will provide more liquidity options to users on the Binance Smart Chain. This will enable users to access a broader range of DeFi protocols while maintaining the benefits of the Symb ecosystem. Furthermore, implementing SIS logic on BNB will introduce a new level of token locking and voting for SIS holders on the Binance Smart Chain.

This move by Symbiosis is part of its strategy to expand its reach and provide its services to a larger audience. By integrating with Binance Smart Chain, Symb can leverage the growing ecosystem and user base of Binance Smart Chain, which has experienced rapid growth over the past year. This integration will also allow Symbiosis to offer users its cross-chain liquidity solutions on Ethereum and Binance Smart Chain.

Symbiosis is known for its ability to provide liquidity solutions for various blockchain networks, including Bitcoin, Ethereum, and Binance Smart Chain. Implementing SIS governance token on BNB chain is another step towards achieving its goal of creating a seamless cross-chain liquidity network. With the ability to transfer tokens between different blockchain networks, Symbiosis aims to solve the problem of fragmented liquidity in the DeFi space.

The implementation of SIS governance token on BNB chain and the introduction of veSIS logic on BNB is a significant move. This move will provide more options for users on the Binance Smart Chain and further strengthen Symbiosis’s position as a cross-chain liquidity solutions leader.

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