Symbiosis Finance Announces Vote on Moving Native SIS Token to the BNB Chain

The multichain liquidity protocol Symbiosis Finance proposed to the community vote on moving the native SIS token from the Ethereum network to Binance Smart Chain (BNB Chain).

This step would involve deploying an SIS/BNB liquidity pool while preserving the protocol’s functionality. The veSIS mainnet logic will also be implemented on the BNB Chain.

According to the developers, the SIS token has broad use cases, but high transaction fees on the Ethereum network affect user interest and earnings from Symbiosis.

“Lower transaction fees in combination with Symbiosis’s partnership with the new DEX, to be announced later, will increase the liquidity and value of SIS tokens, and make them more accessible to a larger number of users,” they added.

Launching veSIS on the Binance Smart Chain will also broaden user participation in the program, as more people will be able to earn rewards and participate in decision-making through the Symbiosis DAO.

What is Symbiosis Finance?

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