Chain Migration

Chain migration occurs when a blockchain project transitions to a different blockchain protocol. Presently, numerous decentralized finance (DeFi) projects are built on the Ethereum blockchain. An instance of chain migration would involve a DeFi protocol moving—along with its complete range of products and services—to the BNB Smart Chain. Chain migrations happen for diverse reasons, such as transitioning to a chain with lower fees or improved throughput, changes in the company’s direction, or desired alterations in tokenization standards (e.g., from ERC-20 to BEP-20).