Symbiosis Finance launches native SIS token on the BNB Chain

The multichain liquidity protocol Symbiosis Finance added the native SIS token to the Binance Smart Chain (BNB Chain). The corresponding decision was previously brought to the vote.

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

According to the developers, the governance token will preserve functionality on the new chain: the veSIS mainnet logic, distribution of rewards for farming, and participation in voting through the Symbiosis DAO.

Besides cheaper transactions, one of the main reasons for moving from Ethereum to BNB Chain was that the service network of the second version of Symbiosis Finance is Boba BNB L2.

“This cooperation has allowed us to remain flexible with regard to security and in the context of adding various blockchains based on user and partner demand,” the developers added.

In late 2022, the Symbiosis Finance team announced the launch of the second beta mainnet.