EOS largest DeFi project switches to Binance Smart Chain

Effect Network, the DeFi platform that connects businesses with the global workforce, will shift development from the EOS blockchain to the Binance Smart Chain (BSC).

Effect Network developers say the main reason for moving to BSC is because of concerns about the future of EOS and its leadership.

In January, Founder and CTO Dan Larimer left Block.One and EOS “to pursue new personal projects,” which the community condemned as betrayal of previous promises made to EOS.

Effect Network cited “Unfulfilled promises to solve many of the problems that plagued the EOS mainnet” before Dan Larimer left the network in search of better bait.

The research team claims that Effect Network intends to build the “decentralized future of work,” which is the most widely used and largest project to date on the EOS mainnet, with clients such as Kraft Heinz, Linus Tech Tips and the United Nations. The team warned that Effect Network’s departure could spell “the end of applications with real use cases in the EOS chain”.

Why BSC?

Effect Network CEO Chris Dawe said the move to BSC was due to his confidence in the long-term vision of the Binance ecosystem.

“Look at what Binance has achieved over the past three years. It’s a testament to his dedication, his hard work, but most of all his laser-focused vision. The amount of products, customer service and our workforce that can be mined with the Binance ecosystem is amazing and will help accelerate the Effect network’s growth like never before, ”said Dawe.

BSC has attracted several DeFi projects from the Ethereum ecosystem since going live in September 2020, such as Sushiswap and 1inch.

Thach Sanh

According to Coindesk

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