Band Protocol - Medium

Band Community Update

Sireethorn (Fon) — Tue, 03 May 2022 15:30:36 GMT

Dear Band Community,

It’s been a great start to Q2, and an eventful and busy Q1 for Band Protocol. As such, I would like to take this opportunity to update the Band community on our recent developments on a couple of fronts: 1) Partnership summary, 2) Product Developments and 3) Band Team. We would also like to personally thank the community for riding with us — we cannot be here without you! And without further ado, let’s get to it:

Partnership summary

In accordance with Band’s community roadmap announced in early March, we have ended Q1 as planned, with expansion of Band Oracle and BandChain usage via lots of existing new partnerships and integrations. Whilst we cannot issue official announcements until our partners have themselves announce either their respective new products that leverage Band Protocol or their official mainnet launches, we have provided an overview summary below. For partners that have already announced, we provided their names and associated links — please stay tuned for those that have yet to announce and check out our follow-up medium articles when they come out!

Testnet integrations

EVMOS
TGT Finance
Nervos testnet migration
Chee Finance on Celo
Defi on Terra (announcement pending partner)
Multichain smart contract platform (announcement pending partner)
Defi on Secret Network (announcement pending partner)

Mainnet integrations

Oasis
Celo
Sienna Network on Secret chain
Linear Finance on BNB — additional feed
EVM compatible chain (announcement pending partner)
Multichain smart contract platform (announcement pending partner)
Protocol on Terra (announcement pending partner)

Utility partnerships

On top of April being one of the busiest months to date when it comes to integration, we were also able to integrate and deliver price feeds on one of our partner’s mainnet within 1.5 weeks i.e. less than 1 sprint as we operate on a 2-weeks sprint basis, setting a new precedent for our team. It is important to note that we were able to do this as a result of heavy and continuous process improvements internally.

As a closing thought on partnerships, these successful integrations have led to more leads and potential partnerships with many more dapps and chains; as of today we are actively working in-dept with 5 leads. This does not include those that we are already in discussions with, but have yet to align processes/launch timing.

Product Development

As part of the initiative to create a more streamlined internal structure and process optimisation to best support our partners and better communicate with our community, we have carved out existing Band products into three categories, namely:

Business-led products

Cosmoscan: Live update of band data requests being fed through and validated by validator network
Band Website: Website covering general information and details on Band Protocol company, mission and use-cases
Band Standard Dataset: Summary of active price feeds that have passed the Band Standard. The symbols listed on this site also imply a faster integration process — for more information, see here
Band Partners: Co-developed with community, band partners shows a summary of the active partners leveraging band — for more information, see here

Operations-led products

Pyband/Bandchain.js: These are two libraries that are used for interacting with BandChain using gRPC protocol
OS/DS deployer: Deploys the specified oracle script (OS) or Data Source (DS) to the specified network and environment
Band Oracle internal tools: Including, but not limited to, internal tool which verify assets/symbols that before they can be added to Band Standard Dataset

Tech-led products

Bandchain internal tools: Including, but not limited to, internal tools for monitoring and maintaining BandChain

In the above, short descriptions by product, as well as associated links to medium articles, have been provided. We hope that this brings more clarification to Band products which surround our flagship Oracle offering.

The aforementioned list only comprises our EXISTING products, and we are working hard to deliver NEW products. Some of which were mentioned in our community roadmap so stay tuned for more to come!

Band Team

Band as a company has undergone iterations of process improvements and optimisation, and have come out stronger than ever with clear processes and structure. Our company is driven by three core teams, namely Business, Operations and Technology.

This structure also reflects the product-led nature of our company and, within due course, we plan to announce more about our team and showcase their work on product releases and tech upgrade. Last but not least, we will continue to grow and improve to best serve our partners, customers and our community as a whole.

About Band Protocol

Band Protocol is a cross-chain data oracle platform with the aspiration to build high-quality suites of web3 development products. The flagship oracle solution aggregates and connects real-world data and APIs to smart contracts, enabling smart contract applications such as DeFi, prediction markets, and games to be built on-chain without relying on the single point of failure of a centralized oracle. Band Protocol is backed by a strong network of stakeholders including Sequoia Capital, one of the top venture capital firms in the world, and the leading cryptocurrency exchange, Binance.

Band Community Update was originally published in Band Protocol on Medium, where people are continuing the conversation by highlighting and responding to this story.

Band Standard Dataset Upgrade

Sireethorn (Fon) — Thu, 21 Apr 2022 12:36:27 GMT

https://data.bandprotocol.com/

Band Standard Dataset, Band Protocol’s flagship Oracle product, has undergone a quality assurance process in which the listing criteria has been improved to provide more security to Band’s customers and end users. Symbols listed on the Band Standard Dataset are those that have been verified and passed several criteria including, but not limited to:

1. Listed on at least 4 sources which are either aggregators or exchanges that Band Protocol supports. Some of these include:

CoinGecko
CryptoCompare
CoinMarketCap
Binance
Huobi Pro
Coinbase Pro

For each centralized exchange source, the pair must be a reputable stablecoin pairing and maintain an average daily trading volume of $1,000,000 within the last 90 days.

2. For tokens listed and traded on DEXes, they must have a minimum liquidity of $10Mn.

The first criteria guarantees the robustness of our feed in the event that one of the sources is down and/or reports incorrect prices. We can rest assured that Band Oracle would still be able to provide accurate price feeds in a timely manner. The second criteria serves to minimise the possibility of prices being easily manipulated.

As of today, the Band Standard Dataset is composed of 76 cryptocurrencies, 6 foreign exchange rates, and 2 commodities. The Band Standard Dataset is our first-step in entrusting the Band Standard with our partners, be it data users developers, data providers as well as our validators.

NB. this is an on-going process and formal update/addition to our criteria list will be added to this article/subsequent article releases

About Band Protocol

Band Standard Dataset Upgrade was originally published in Band Protocol on Medium, where people are continuing the conversation by highlighting and responding to this story.

Band Partners, the go-to place for updates on Band Protocol’s business developments and…

Sireethorn (Fon) — Fri, 08 Apr 2022 14:26:32 GMT

Band Partners, the go-to place for updates on Band Protocol’s business developments and partnerships

In collaboration with Active Nodes, a long-time supporter and a proud Band Jedi, we are more than delighted to announce the launch of Band Partners website, a place where the Band Team and our community will work together towards a common goal to provide more transparency into what is being worked on, as well as showcase Band Protocol’s contribution to Web3 thus far. The site will evolve to add more updates and information as Band Protocol continues to grow.

About Band Partners

The purpose of Band Partners is to inform our community members about what the Band Team is working on, the value we are able to contribute to our partners and also as a place to showcase our work. Band Partners aims to shed light on the way Band Protocol supports each of our partners in a tailored manner; a short description of what Band Protocol does for each partner is provided, as well as the chains, symbols and feeds supported. In addition, we show price inception in accordance with data from our flagship Band Standard Dataset and share the nature of each feed in terms of frequency and deviation limits. These are all customisable key variables tailored to each partner’s request. Here is the first step and we want to thank Active Nodes for their contribution in making this happen with us!

Closing Thoughts

This is the first version of Band Partners, and we cannot make it without Active Nodes, so a shout out to them! We have planned opportunities for our community members to participate in more updates down the line so please head to our official Telegram and stay tuned!

👉🏼 Original tweet from Active Nodes https://twitter.com/activenodes_io/status/1511992225701498882?s=20&t=uZQbwt7OOLdIxr3NGmoDdQ

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About Band Protocol

Band Partners, the go-to place for updates on Band Protocol’s business developments and… was originally published in Band Protocol on Medium, where people are continuing the conversation by highlighting and responding to this story.

BCIP-7: Increase data integrity via the number of external calls to data sources

Bun Uthaitirat — Fri, 18 Mar 2022 16:29:29 GMT

Band Protocol continues to expand the supply of data on its platform which reinforces the data integrity. More data providers mean more options for users to pick the source they want, and more redundancy to safeguard against malicious actions from the data provider end.

The parameter max_raw_request_count sets the upper limit of how many external calls to data source a request can make, limiting the number of sources that one request can include.

The Bandchain data ecosystems now have more data sources that can be used to aggregate data results to secure more robust integrity of the data request. But with the limit of `max_raw_request_count`a request can only currently call out to 12 sources.
The Band Protocol team proposes to increase the limit from 12 to 16 external calls per request. We think 16 is the number of sources that can strengthen the current requests without spamming data source execution on the validator’s side.

The Outcome of the Proposal

Upon the proposal conclusion on March, 25th 2022, there are two possible outcomes:

If the proposal passes, max_raw_request_count will change from 12 to 16. This will allow for more source redundancy and integrity for price feeds
If the proposal fails, BandChain will not be able to take advantage of growing data redundancy. We will collect feedback to improve upon what is needed.

Delegators Can Vote

Every delegator and token holder on BandChain has voting power based on the tokens that have been staked on the mainnet network. Delegators have 5 possible options to interact with the BandChain proposal, including this one, as follows:

Vote “Yes”, if you agree with the network upgrade
Vote “No”, if you disagree with the network upgrade
“No with Veto”, if you strongly disagree with this proposal
“Abstain”, if you do not intend to vote in favor or against the proposal but accept the result of the vote
Do not vote (do not submit transaction), if you wish to delegate your voting power to the validator who will vote on your behalf

BandChain Explorer

For any questions, please feel free to raise any questions or concerns regarding the proposal in our Discord group.

Join the Band Protocol Discord Server!

How is the Proposal’s Outcome Determined?

After the voting period ends, this proposal will be determined as YES if all of the following conditions are met.

More than 40% of total bonded tokens vote on this proposal.
“No” with veto votes must be less than one-third of the total votes.
“Yes” votes are more than the sum of “No” and “No with Veto” votes.

Effects on End-Users

The upgrade has no effect on the end-users operations of the chain.

About Band Protocol

BCIP-7: Increase data integrity via the number of external calls to data sources was originally published in Band Protocol on Medium, where people are continuing the conversation by highlighting and responding to this story.

Band Protocol 2021 Recap and Vision: Rapid Expansion, BandChain V3, and Beyond Oracle

Paul Nattapatsiri — Fri, 04 Mar 2022 07:14:10 GMT

2021 has proved to be a year of leap in development for both the overall web3 ecosystem and Band Protocol. During this year, the Band Protocol team has solved many technical and business problems to deliver unique solutions such as BandChain Phase 2 and IBC Oracle service. All the while keeping our focus on improving internal processes to confidently embark into new ecosystems both Layer 1s and Layer 2s that present a heightened demand for oracle integration.

With tremendous excitement, we are proud to recap 2021, share our 2022 roadmap and our vision for the future beyond oracle.

2021 Recap — Rapid Expansion

With the priority to serve the DeFi market, our main goals for the year were to grow the usage of BandChain, and introduce BandChain Phase 2 to enable a more scalable infrastructure for both the data providers side and user side. With these missions in mind, we have improved monitoring processes and deployment operations that have helped us to hold a strong position in the oracle competitive landscape.

The current BandChain has served as a reliable platform for data solutions as expected. We saw a growth in the number of requests over the past year, with the current request number at over 16.1 million requests when accounting for both Phase 1 and Phase 2.

We have also acquired many power users in different ecosystems. As of date, we have a total number of 22 official partners, of which 17 are on mainnets and 5 on testnets. Our integration spans across 12 ecosystems including the nascent ones such as Avalanche, Celo Network, Oasis Network, Optimism and more — thanks to our highly scalable infrastructure and procedure which allows us to be the first live oracle on many of these platforms and claim the first-mover advantage.

With the partnership acquisition, BandChain has seen up to $16.73 Billion in Total Value Secured (TVS) during the peak of market activity in 2021. Our partners include (but not limited to) Mirror Protocol (Terra Ecosystem), Alpha Finance Labs (Ethereum, Avalanche, BSC), C.R.E.A.M. Finance, and more.

On the data provider side, we have secured over 70 numbers of data sources, supplying over 5 different types of data to our users with categories ranging from stock, index, foreign currency, commodities, to cryptocurrency asset prices.

Extending the Oracle Service Reach

After the launch of BandChain Phase 2, the Band Protocol team submitted proposals to enable IBC-token transfer and IBC-oracle. With the help of the Tendermint (now Ignite) team to include our IBC-oracle module with Starport, these IBC features have allowed us to realize our goals of becoming more cross-chain compatible and increasing data distribution channels.

We successfully launched this feature with Injective Protocol who requests data through IBC Oracle and pays for requests with Band token. Combined with the already growing traffic from our aggressive integration with new protocols, this IBC strategy brought us even more volume that filled up to 80% of block capacity during peak period — displaying a strong sign of growth and demand for usage. This compels us to work heavily on expanding our service capacity.

Expanding Capacity

Chain Capacity:
To address the increase in requests and block traffic, the Band Protocol team has taken the following measures:

Introduced dynamic gas in Phase 2 which improve gas utilization when requesting more computational-heavy requests (eg. many sources and asset feeds)
Proposed to reduce gas parameter which increases block capacity by approximately 25%

Integration Capacity:
Moreover, the team has worked in improving many internal toolings such as monitoring dashboard, operating procedures to add support for new feeds and data sources to ensure the speed of our integration. This has allowed us to be the first to launch on new Layer 1 and Layer 2 networks such as Celo Network, Oasis Network, Godwoken (Testnet) and more.

Our Vision

BandChain Phase 2 Laozi

As we continue to iterate on BandChain, our flagship product with a proven product-market fit, we will be launching auxiliary services to enhance its usage. This includes products such as:

Band Standard Dataset — a starter product for most developers that grant them access to more than 250 feeds in different asset classes. We will continue to improve the service of this product.

BandChain Phase 2 Gateway — a product for data providers to easily participate in supplying data on BandChain and receive on-chain revenue in Band tokens. This helps enhance the decentralized marketplace of BandChain

VRF (Verifiable Random Function) — a product to capture the need of the fastly growing NFT and GameFi space. The Band Protocol team has been fine-tuning the designs to offer a highly secure and reliable product.

Band Oracle v3
With the ongoing aggressive growth of both Layer 1 and Layer 2 ecosystems, DeFi, and new sprouting sectors such as GameFi — we are actively working to get ready for the future, and not only to follow the trend passively.

With this outlook of fast-growing demand for data, we will be building Band Oracle v3 along with the Band Protocol’s BandChain Phase 2 which is the current flagship product later in 2022.

This next-generation oracle will be built as an extension on top of the existing BandChain Phase 2 (Laozi) with multiple distinct features:

Higher throughput
Lower latency
Cheaper base fees
Extreme portability

We are in the early design process of Band Oracle v3 which incorporates feedback from working with our partners. One main design goal is to reduce the reliance on data settlement (Oracle Script and Data Source script) on Bandchain which requires domain-specific knowledge to deploy. This corresponds to our mission of making Band Oracle easier to adopt in a self-serving manner, serving data to all. We will be showing you the design and development of Band Oracle v3 in the upcoming quarters.

Beyond Oracle: The Expanded Vision Over the Next 3–5 Years

Throughout the years of working with multiple blockchain projects and providing an oracle solution that secures $10B+ in value on-chain, we have been privileged to be working with some of the most incredible builders in the blockchain space. Along the way we have learned how they shipped some of the most high-quality products and optimizations to their users, as well as the obstacles they face in the process.

Such insights have inspired the team to think more deeply into blockchain technology beyond oracle, especially from the developer’s perspectives and how we, as an infrastructure builder, can contribute to better security and scalability for the industry as a whole.

Staying true to our initial vision centered around providing reliable data to the open internet has served us on a journey thus far. The Band Protocol team’s vision has now grown into advancing the growth of web3 through high-quality infrastructure, leveraging our oracle product as our stepping stone.

BandBuilderVerse (BBV)

The Band Protocol team will take on the next mission of building a universe of high-quality development tools for Web3 builders to serve our developer community. In the next 3–5 years after mastering the oracle business as the first stepping stone, we will work to expand our line of products to a more complete suite of development toolkit blockchain developers can rely on and leverage to thrive in web3.

The details of the strategy on product launches will be subjected to the future’s web3 demand and industry landscape. As of now, the suite of products that we have identified potentially includes:

Band L2 Scalability Solution
Band Asset Bridge
Band Data Indexer
Band DApp Operation & Security Monitoring
Band Training & Certificate Program

This is a challenging mission that the band protocol team is poised to take on. Leveraging our resource of highly technical teams and web3 infrastructure-focused knowledge from building in web3 space since 2017, we are one of the most equipped teams in the space to take on infrastructure problems.

Closing Remarks

We have been on a trajectory of growth but our journey has barely begun! Stay tuned to see Band Protocol continue to capture more adoption, expand to different ecosystems with the BandChain Phase 2 products in the pipeline. But better yet, stick around to see how we continue to grow to accomplish a bigger vision to contribute to the web3 community and bring value back to the Band community.

2022 is set to a high tone with renewed vision and knowledge. We will continue to be a leading decentralized oracle project, and set ourselves apart with the dedication that we have for the developer’s community. We are grateful for all the community support and we are looking forward to a great year ahead.

About Band Protocol

Band Protocol 2021 Recap and Vision: Rapid Expansion, BandChain V3, and Beyond Oracle was originally published in Band Protocol on Medium, where people are continuing the conversation by highlighting and responding to this story.

BCIP-6: Increase Block Capacity through Request Gas Parameter

Bun Uthaitirat — Fri, 11 Feb 2022 06:19:14 GMT

With the recent growth of usage from our partners (i.e. Mirror, Injective), there is an increase in requests that fills up to 80–90% of block’ capacity during peak periods. To solve this issue, we are submitting BandChain Improvement Proposal (BCIP-6) to propose parameter adjustment that will increase Block’s capacity.

The proposed parameter per_validator_request_gas specifies the amount of gas required to process a request on BandChain per each validator that needs to report data.

This proposal reduces per_validator_request_gas from 30000 to 0, decreasing the overall gas used per each request. With each request using less gas, a block that has a gas limit of 8 million can take in more requests, allowing BandChain to process more requests in one block and increase capacity to serve the growing data demand of partners. Specifically, this will increase BandChain capacity to process requests by approximately 25%.

The Outcome of the Proposal

Upon the proposal conclusion on Feb 25th, 2022. There are two possible outcomes:

If the proposal passes, per_validator_request_gas from 30000 to 0. This will increase BandChain capacity to process requests by approximately 25%.
If the proposal fails, BandChain will be reaching block capacity and occasionally experience slower transactions time. We will collect feedback to improve upon what is needed.

Delegators Can Vote

Every delegator and token holder on BandChain has voting power based on the tokens that have been staked on the mainnet network. Delegators have 5 possible options to interact with BandChain proposal, including this one, as follows:

Vote “Yes”, if you agree with the network upgrade
Vote “No”, if you disagree with the network upgrade
“No with Veto”, if you strongly disagree with this proposal
“Abstain”, if you do not intend to vote in favor or against the proposal but accept the result of the vote
Do not vote (do not submit transaction), if you wish to delegate your voting power to the validator who will vote on your behalf

BandChain Explorer

For any questions, please feel free to raise any questions or concerns regarding the proposal in our Discord group.

Join the Band Protocol Discord Server!

How is the Proposal’s Outcome Determined?

After the voting period ends, this proposal will be determined as YES if all of the following conditions are met.

More than 40% of total bonded tokens vote on this proposal.
“No” with veto votes must be less than one-third of the total votes.
“Yes” votes are more than the sum of “No” and “No with Veto” votes.

Effects on End-Users
Faster requests and transactions on-chain. With less request size (by gas used), a block has more free capacity to process more requests and other types of transactions.

About Band Protocol

Band Protocol is a cross-chain data oracle platform that aggregates and connects real-world data and APIs to smart contracts. Blockchains are great at immutable storage and deterministic, verifiable computations — however, they cannot securely access data available outside the blockchain networks. Band Protocol enables smart contract applications such as DeFi, prediction markets, and games to be built on-chain without relying on the single point of failure of a centralized oracle. Band Protocol is backed by a strong network of stakeholders including Sequoia Capital, one of the top venture capital firms in the world, and the leading cryptocurrency exchange, Binance.

BCIP-6: Increase Block Capacity through Request Gas Parameter was originally published in Band Protocol on Medium, where people are continuing the conversation by highlighting and responding to this story.

Band Oracle Now Live on Oasis Network Mainnet

Catherine — Thu, 27 Jan 2022 15:25:29 GMT

Following our recent partnership announcement with Oasis Network, we are thrilled to announce that our scalable and decentralized oracle solution is live and fully integrated on Oasis Network Mainnet — supporting rapid growth in the ecosystem and adding significant usage to Band Protocol

Ready to Support DApp Growth

The integration work that Band Protocol began in Q4 2021 is now complete through testnet and mainnet. Projects building on Oasis Network is now able to access the Band Oracle data feed which is the largest collection of feeds in web3 with more than 230+ symbols, allowing them to build the DeFi ecosystem to its full potential.

Data Feed

The data feed gives the Oasis Network ecosystem access to more than 230 price feeds, which consists of the following component data:

BNB
ETH
ROSE
WBTC
USDT
SOL
USDC

The prices are updated according to a feeding interval of 1 hour (3,600 seconds) and the off-chain price deviates from the on-chain price by 0.5%.

Going forward, the BAND oracle will support other lending protocol integrations, namely TGT Finance, a few more native DeFi protocols coming to the network soon as well as some multichain protocols such as WePiggy.

The integration will also allow BAND to offer Oasis network Native tokens in the data feed, bringing pricing data of Oasis tokens to all the blockchains that have integrated BAND.

For requests to add new tokens to the data feed on Oasis Emerald it is possible to contact the BAND team at bd@bandprotocol.com

The Contract address details can be found here.

About Oasis
Oasis is the leading decentralized, privacy-enabled, layer-1 blockchain network. Combined with its high throughput, low gas fees, and secure architecture, the Oasis Network is able to power scalable DeFi, revolutionizing Open Finance and expanding it beyond traders and early adopters to a mass market. Oasis has many key backers including Andreessen Horowitz, Polychain, and Binance Labs, and several projects already building on its network & partners such as the CryptoSafe Alliance with Binance, The BMW Group, Chainlink, Balancer, and others. Oasis is among the top three invested blockchains and has one of the fastest-growing developer networks in the industry.

About Band Protocol

Band Oracle Now Live on Oasis Network Mainnet was originally published in Band Protocol on Medium, where people are continuing the conversation by highlighting and responding to this story.

Coin98 Partners with Band Protocol to Enhance Usage of C98

Catherine — Tue, 18 Jan 2022 13:02:52 GMT

The partnership between Coin98 and Band Protocol has been leveraged to a new level with the price feed solution for C98 (token) from Band.

Coin98 is a DeFi ecosystem with the aim of making it easy for users to access DeFi. To serve that goal, Coin98 has developed a suite of products that fully serve the needs of users, from transactions, storage to asset management, lending, savings, etc. In particular, Coin98’s product suite is provided on Multi-chain, providing an outstanding smart DeFi experience, users do not need to take too many steps or have a deep understanding of Blockchain.

C98 is the ecosystem token issued by Coin98 to the project’s participants. C98 token is used for different cases: ecosystem development, staking incentives, governance and unique memberships rights.

Band Protocol is a decentralized, permissionless, and time-tested data oracle that aggregates real-world data and sends it to smart contracts on blockchains. Representing one way to bring external data safely and securely to the on-chain environment, Band Protocol already provides data about 230+ cryptocurrencies and real-world information such as fiat currency, stock, commodity price data, and more.

Under the terms of the partnership, Band Protocol provides an oracle price feed solution for C98 token in Ethereum and Binance Smart Chain (BSC). This solution helps to stabilize the price accuracy of C98 (token) on platforms that C98 is listing and lending/ borrowing or liquidation in the near future.

Band Protocol relays the data in different decentralized ecosystems and enables the smart contract to operate. It is a middleware layer operating between Coin98 as a decentralized app and various data sources. Due to the benefits that price feed from Band Oracles, this helps to open up more opportunities for Coin98 to partner with other lending protocols, utilities and provides more use cases for C98.

“Our team is always looking for the potential blockchain projects that contribute to a rich ecosystem of decentralized applications to life. With the enhanced real-time price for C98 from Band Protocol’s price feed, more DeFi applications will be opened up, which in the early stage is lending and borrowing. Coin98 can rely on fast data requests, fast addition of new asset markets, also, Band Protocol provides a reliable, time-tested data solution that will be helping us in consolidating our decentralization & privacy principle.” Vinh The Nguyen, Co-Founder of Coin98 Finance

“We have been working with Coin98 team since late 2020, and now are really excited to provide real-time price data for their token (C98). It’s important to have such information for lending platforms to utilize the use case of this token, and Band Protocol is happy to assist here with its transparency and reliability. We hope to collaborate with Coin98 even more in the future.” Catherine Tuntiserirat, Head of Growth

About Band Protocol

About Coin98

Coin98 is the #1 crypto super app designed to seamlessly connect a billion users to the crypto world safely and securely. We offer users across the globe a comprehensive and trusted ecosystem of essential services including but not limited to a non-custodial, multi-chain NFT & cryptocurrency wallet, built-in DEXs, Cross-chain Bridge & DApp Browser, a powerful Terminal, attractive Earn, Gift & Campaign, and Others.

Coin98 Partners with Band Protocol to Enhance Usage of C98 was originally published in Band Protocol on Medium, where people are continuing the conversation by highlighting and responding to this story.

Band Oracle is now live on Celo’s Mobile-First DeFi Platform

Catherine — Wed, 05 Jan 2022 17:46:05 GMT

Band Protocol’s decentralized, permissionless, and time-tested data oracle solution is now available on Celo. Celo is a mobile-first, carbon-neutral blockchain that makes decentralized financial (DeFi) tools and services accessible to anyone with a mobile phone–bringing the powerful benefits of DeFi to the users of the 6 billion smartphones in circulation today.

With Band Protocol’s oracle, the data solution available to Celo Devoplers is not only end-to-end customizable, but also inexpensive and fully decentralized.

Typically, data sharing largely depends on third-party APIs accessed through a secure HTTP connection. Without oracles, blockchains are unable to interact with real-world data native to the traditional (Web2) internet. Because smart contracts within a blockchain platform are isolated from Web2 functionality, external communication isn’t possible. Band oracles on Celo solve this communication problem in a robust and resilient way.

Expanding Ecosystem Reach

The integration of Band oracles on the Celo blockchain enables projects built on Celo to receive real-world data to smart contracts reliably, expanding the ecosystem’s reach into external data on legacy systems. In short, the oracles allow the Celo platform to navigate from a closed smart contract system to an open and inclusive system, providing greater flexibility to developers and users of the network.

Incorporate Band Into Your Project on Celo

Access to Band protocol on Celo is available on both mainnet and Alfajores testnet. Several projects on Celo, including Ubeswap, Moola, Kresko, and Mobius, have already adopted Band oracles to expand and improve their user experiences. If you are a developer looking to incorporate Band oracles into your project, review Celo’s tutorial to get started.

To learn more about building, deploying, and managing applications on the Celo network, read technical documentation.

About Celo:
Celo is a mobile-first, carbon-neutral blockchain that makes decentralized financial (DeFi) tools and services accessible to anyone with a mobile phone–bringing the powerful benefits of DeFi to the users of the 6 billion smartphones in circulation today. What is the Celo Platform? With its interoperability, cross-chain compatibility, and vision for inclusivity, Celo enables native and non-native digital assets–both private and public)–to circulate freely, at extremely low costs and high speeds, across devices, carriers, and countries–making money mobile, global and accessible like never before.

Website | Documentation | Medium | Twitter |

About Band Protocol:
Band Protocol is a cross-chain data oracle platform that aggregates and connects real-world data and APIs to smart contracts. Blockchains are great at immutable storage and deterministic, verifiable computations — however, they cannot securely access data available outside the blockchain networks. Band Protocol enables smart contract applications such as DeFi, prediction markets, and games to be built on-chain without relying on the single point of failure of a centralized oracle. Band Protocol is backed by a strong network of stakeholders including Sequoia Capital, one of the top venture capital firms in the world, and the leading cryptocurrency exchange, Binance.

Band Oracle is now live on Celo’s Mobile-First DeFi Platform was originally published in Band Protocol on Medium, where people are continuing the conversation by highlighting and responding to this story.

Sienna Network and Band Protocol partner on real-time price data for SiennaLend

Catherine — Thu, 02 Dec 2021 15:11:57 GMT

Privacy-first and cross-chain DeFi platform Sienna Network has partnered with Band Protocol, a decentralized data oracle that aggregates real-world data, for the organization’s oracle data delivery.

The Band Oracle sends data to smart contracts on blockchains such as Cosmos and Ethereum ecosystem to bring that external data safely and securely to the on-chain environment. Band Protocol already provides data about more than 230 cryptocurrencies and real-world information such as fiat currency, stock, commodity price data, and more.

Under the terms of the partnership, Band Protocol provides a data feed solution for SiennaLend, a privacy-first decentralized lending platform built on Secret Network, launching in either December or January depending on the extensive and thorough code auditing time. 🚀

Sienna Network has chosen to work with Band Protocol to bring a reliable, time-tested data solution to help secure the decentralized privacy-first crypto lending platform.

Reliable data is a crucial factor for building a robust crypto lending platform because accurate and timely data have a huge impact on the yield and outcome of lend and borrow positions. 🎯

Band Protocol relays the data in different decentralized ecosystems and enables the smart contract to operate. It is a middleware layer operating between SiennaLend as a decentralized app and various data sources.

To provide the highest level of stability and speed, Band Protocol operates with its own independent ‘BandChain’ which is open-source, audited and operated by more than 72 professional node operators. Having BandChain which contains all the data requests, aggregation logic for reporters with skin-in-the-game means that Sienna can rely on fast data requests, fast addition of new asset markets, and the ability to scale beyond Secret Network easily.

The partnership will launch with SiennaLend and will also cover future developments from both Sienna Network and Band Protocol.

Stay tuned for more as it goes beyond the exciting launch of SiennaLend, a game-changer for privacy DeFi, supported by the data oracle that is Band Protocol.

About Sienna Network
Sienna is a cross-chain, privacy-first decentralized finance protocol built on Secret Network, that enables trustless financial instruments, such as trading and lending with complete privacy for multiple blockchain ecosystems. Privacy, both for individuals and organizations, is required by law and should at all times be treated as a a fundamental human right. Sienna is on a mission to protect your PII.
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Sienna Network and Band Protocol partner on real-time price data for SiennaLend was originally published in Band Protocol on Medium, where people are continuing the conversation by highlighting and responding to this story.