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CEO of Binance desires more Ethereum-based DeFi projects to join the BSC platform

A clear call from CZ.

Changpeng Zhao who is the CEO of Binance is welcoming more Ethereum-based DeFi projects to enter the Binance Smart Chain (BSC) platform. 

Changpeng Zhao

Zhao told in a tweet conversation with another user, that this move would decrease the load on the Ethereum network, which will, in turn, drive to a reduction in Ethereum's gas fees. 

Later Zhao stressed that Binance Smart Chain is not a substitution or rival to the Ethereum network and that it is compatible with it.

Zhao added that Binance Smart Chain gives smart contract producers more rights:

"BSC never aimed to replace ETH, BSC is just ETH-compatible. Smart projects are giving their users more options. Option for cheaper fees."

Zhao ended his comments by telling that his Binance Smart Chain transaction volume lately reached 10% of Ethereum's network a couple of days ago.

On the 1st of September, Binance started the Binance Smart Chain platform, and its CEO stated the launch of a $ 100 million investment fund dedicated to projects creating on the Smart Chain some days ago.

At the same time, in a different tweet, Zhao spoke about Binance’s choice to add the newest DeFi projects even as the business took flack for listing SushiSwap. Binance Smart Chain now hosts BurgerSwap, the newest DeFi project that marked a big amount of a number of transactions in just 24 hours. 

“In the past, I have generally tried not to comment on specific projects or coins. Going forward, I will be tweeting more about projects on BinanceSmartChain. They are not endorsements. Rather just a way to promote the community,” Zhao told. 

He told that most DeFi projects collapse but also remarked:

“Some may offer short term gains, but they come with super high risks too. Don't invest money that you can't lose.”

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