A recent proposal was presented by the team of BNB Chain to deploy the “Euler” lending protocol to BNB Chain. As a result, 83.05% of the votes were in favour of the proposal. According to “Snapshot,” the respective proposal was presented by the team of BNB Chain to the Euler community for the support of the respective project’s deployment on BNB Chain. Changpeng Zhao, the chief executive officer (CEO) of the top crypto exchange ‘Binance’ disclosed the news on his Twitter channel.
83% Votes Favor BNB Chain’s Proposal for the Deployment of a Lending Protocol Named ‘Euler’
The proposal mentioned that the respective deployment will play a significant role in aligning the objectives of both Euler and BNB Chain and both platforms will get substantial benefits as a result. The team of BNB Chain noted in the proposal that the platform is completely supporting the community of Euler as well as the contributors to be a part of this venture. As noted in the proposal, they completely understand the extent of the challenges associated with the establishment of a crucial project.
A crucial point discussed by the proposal is related to BNB Chain’s user base. As a result of the deployment, Euler would be able to reach a completely diverse scope of capital and consumers. BNB would additionally incorporate an additional extent of both customer sides’ geographic diversification. As added by the proposal, the BNB Chain team clarified the purpose behind the respective deployment.
‘Euler’ Deployment to Offer Enhanced Security and protection to a Diverse Range of Users
It stated that the consumers will be permitted to access a proficient lending project as it has been effectively delivering services around the lending market recently. As the proposal puts it, a major proportion of Euler’s development has been devoted to improvements related to its financial design including double-sided risk-adjusted capacity for borrowing. Apart from that, it has paid considerable attention to the security and protection of its consumers, from debtors or depositors, the proposal added.
The team revealed in the proposal that to guarantee the lending protocol’s effective deployment on BNB Chain, the platform could move toward several promotions and initiatives. The respective endeavours take into account mutual promotion, AMA, as well as mutual Twitter spaces to create contact between the team of Euler Labs and the collaborators of the ecosystem. BNB Chain invites any endeavour that is believed by the Euler community to fortify the protocol’s status in BNB to be discussed.
