Share this article
Loom Network Is Bringing DeFi to Tron, Binance Chains
Dai will first join tron and then binance chain, the blockchain hosted by crypto exchange Binance.
Updated Sep 13, 2021, 11:28 a.m. Published Sep 19, 2019, 7:30 p.m.
MakerDAO’s dai stablecoin will be implemented on the tron and binance chains in the near future through Loom Network, a Layer 2 scaling solution for the ethereum blockchain, according to a company blog posting today.
An ERC-20 token, dai is part of the ethereum blockchain. As the largest DeFi token with over $337 million locked away in contracts according to DeFi Pulse, Loom believes moving dai onto other chains will help grow the token.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Speaking with CoinDesk, Loom Network CEO and co-founder Matthew Campbell said interoperability with other chains has been a key vision for the Network.
"With interchain asset transfers, we open up some completely new possibilities for things like multichain DeFi," Campbell said. "As Maker is the clear leader in the space, it made perfect sense to team up and make multichain dai a reality. This will be a massive step forward in bringing dai to even more users and developers, and proving out what’s possible with cross-chain assets," he continued.
Dai will first join the tron blockchain following a testing period. The token will join stablecoin tether on the tron network, which is also hosted on the bitcoin and ethereum blockchains. Loom believes the addition of dai to tron could spur the development of other DeFi protocols on that protocol.
Binance Chain will also have dai ported over through Loom, although the timing was not disclosed. Other blockchains Loom plans to build dai into have not been disclosed either.
Describing the tech, Loom says their network will operate as a Layer 1 ‘transit hub,’ shuffling funds between different protocols such as etherum, tron, or binance. Transfers between chains will be secured through multi-signature validations on the Loom Network which require three-quarters plus one of all Loom validators before transactions can be signed off.
“The idea is that one day soon, a user can pay for a product using dai regardless of what app, wallet, or chain they are using,” the company finished.
After publication, a spokesperson from the Maker Foundation told CoinDesk dai and the Loom Network are a natural pairing for expanding the DeFi ecosystem. "[Through interoperability] more people and projects can now leverage the stable, secure and trustless nature of dai for their DeFi projects and crypto portfolios," Maker said.
Dai image via CoinDesk archives
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Barclays Sees ‘Down-Year’ for Crypto in 2026 Without Big Catalysts
Spot trading volumes are cooling, and investor enthusiasm is fading amid a lack of structural growth drivers, analysts wrote in a new report.
What to know:
- Barclays forecasts lower crypto trading volumes in 2026, with no clear catalysts to revive market activity.
- Spot market slowdowns pose revenue challenges for retail-focused platforms like Coinbase and Robinhood, the bank said.
- Regulatory clarity, including pending market structure legislation, could shape long-term market growth despite near-term headwinds.
Top Stories
