• April 25, 2024

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Symbiosis Finance Might Move its Native Token to BNB Chain

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Symbiosis Finance has invited the community to vote to move the native token of the project, SIS, from the Ethereum network to BNB Chain.

According to the proposal, this step involves deploying a SIS/BNB liquidity pool while maintaining the functionality of the Symbiosis protocol. The veSIS core network logic will also be implemented on the BNB Chain.

According to the developers of the project, the SIS token has a broad purpose, but the high fees for transactions on the Ethereum network affect the interest and income of Symbiosis users.

They have said:

“The reduction in transaction fees, combined with Symbiosis’ partnership with the new DEX, to be announced later, will increase the liquidity and value of SIS tokens, as well as make them more accessible to more users.”