In one side vishNu, standing with folded hands, offering at the Feet of the Divine one of his eyes to complete (the shortfall) a thousand lotuses, from Which Lord got the disc weapon(chakra) and the blessing order to be renowned as lotus-eyed, that Lord of Creatures (pashupati) with axe, deer, boon giving posture, to that giver of disc, salutations.
chakra pradar : The giver of disc (bhOga mUrti)
For the protection of the world mahA vishNu wanted to have a weapon that is very powerful. He wanted to worship Lord Shiva with thousand flowers to get the the sudarshana disc, which was created by Lord shiva for jala.ndhara samhAra. mahA viShNu collected the required flowers and started the worship. But during the worship, mahA vishNu found that he fell short of one flower to thousand. He did not want to stop at any cost the worship of Lord shiva. Immediately he plucked out and offered one of the eyes as the thousandth flower. Delighted by that devotion, Lord Shiva gave the disc to viShNu. Also mahA vishNu got the name "lotus eyed" (padmAksha) due to the devotion in offering the eye to make up for a lotus.
However the chakra was too powerful for viShNu to hold. So God made it into three parts, one given to viShNu, one to shakti and one kept with Himself. With that chakra the reverend Lord viShNu is protecting all the worlds. The form of Lord shiva blessing viShNu with the disc is the chakra prada mUrthi.