Utopia is live on BNB Smart Chain ⛩🎉!

Today we’re excited to announce we’re launching on BNB Smart Chain to support the growing community of DAOs and projects on the chain.

Previously known as the Binance Smart Chain (BSC) and Binance Chain (BC), the BNB Chain was launched earlier this year as a blockchain dedicated to interoperability, efficiency, and security. The BNB Smart Chain is currently the third most popular chain in the Defi ecosystem, and Utopia is thrilled to be supporting this vibrant community.

What is BNB Smart Chain:

The BNB Smart chain was created by Binance, the world’s largest cryptocurrency exchange. Much like the functionality of Ethereum, BNB is an EVM-compatible blockchain created for developers to build decentralized applications. Today the BNB Smart Chain is acclaimed for its community-driven ecosystem, lower gas fees, and high-speed transactions.

The newly rebranded BNB Smart Chain comprises:

  • BNB Beacon Chain –“A fast and secure decentralized digital asset exchange based on the highly performant matching engine built on distributed consensus.
    • Used for governance (i.e. staking and voting)
  • BNB Smart Chain (BSC) – “EVM compatible, consensus layers, and with hubs to multi-chains.”
    • Used to bring programmability and interoperability to the BNB Beacon Chain

New chain, same Utopia ⛩ Using multichain on Utopia is the same experience as eth-mainnet with no lessened functionality! Any BNB Chain DAO with a Gnosis Safe can use our full suite of features!

  • BNB Chain DAOs can create recurring and 1-time payments on Utopia and pay them out in less than two clicks. These two clicks make a transaction through Gnosis SAFE, paying the team’s recurring compensation.
  • Once the transaction is created, DAO multi-sig holders sign and execute the payment on Utopia without any gas! Our signing page lets multi-sig holders get a clearer picture of their Gnosis transactions and avoid paying gas individually.
  • A Utopia payment request link can be shared with the community to avoid back-and-forth messages. Individuals expecting payment can submit how much they should be paid along with information on the context of the payment.
  • DAOs can track and download their payment history - giving them a detailed breakdown of the DAO’s expenses.
  • In July, Utopia will have a bookkeeping feature that will allow BNB Chain DAOs to categorize and get analytics on all their DAO’s transactions.

Looking to free your team from operational overhead? Book a demo below

You can access Utopia on BNB Chain here:

Learn more about Utopia at utopialabs.com

Sources and additional reading:

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