Band Protocol Fast Pacing Developments With Strategic Partnerships

Band Protocol facilitates infrastructure for the effective and accurate functioning of blockchain-enabled smart contracts network. The protocol facilitates cross-chain interoperability by enabling an oracle that supplies real-world data to and from smart contracts. Through the functioning of an oracle, it aims to build a decentralized bridge between smart contracts and the traditional web.

In 2020, the platform has partnered with prominent organizations to provide scalable, verified, and innovative solutions. In this article, we take a look at the strategic partnerships of Band Protocol with other networks in the past few months and how it adds value to its ecosystem.

Band Protocol X Nervos

Nervos developers will leverage the Band Protocol’s infrastructure to access price feeds, event information, and other data oracles. This further facilitates developers to build scalable, secure, and innovative decentralized applications on the Nervos blockchain.

Band Protocol X Starname

The Band Protocol price oracle will be integrated to provide a secure and improved user experience. The price oracles will be used for providing exchange rates for 12+ foreign currencies including EUR, GBP, CNY, SGD, KRW, JPY, INR, RUB, CHF, AUD, BRL, CAD, HKT, and USD. The partnership will eliminate volatile price quotations and enable stability when using Starname’s services. Additionally, users will also be able to able to use BAND, the native token, to purchase services of Starname.

Band Protocol X Komodo

Komodo’s product Atomic DEX is a secure wallet and non-custodial exchange service provider. By integrating price feed oracles, it plans to provide secure price feeds for different cryptocurrencies. The oracles will facilitate users of Atomic decentralized exchange to access fair market values of digital assets.

Band Protocol X KyberSwap

The customized oracle will ensure that KyberSwap users receive fair market prices sourced from up to 10 individual data aggregators. The decentralized oracle will provide price feeds to KyberSwap protocol in a scalable and timely manner.

Band Protocol X Harmony

It intends to access the platform’s services to enable a custom oracle that will provide off-chain data to developers. This will further allow the creation of dApps on Harmony with fast finality and low gas fees. The integration will pave the way for secure dApps with access to reliable off-chain data integrations.

Band Protocol X Icon

In November 2020, the partnership further extended to operate validator nodes on each other’s network. Band Protocol’s oracles have already been successfully implemented in various ICON dApps that function in industries like DeFi and online gaming. The successful execution of this partnership has led both teams to further extend it on their respective networks.

Band Protocol X Ubik Capital

Ubik Capital which has over 13.5+ million ICX staked to them and 3500 unique delegators on ICON Network, is one of the genesis validators of the Band Protocol network.

With this partnership, Ubik Capital will provide validator infrastructure to the Band Protocol network. This further assists the Band Protocol network to connect validated real-world data to smart contracts in real-time.

Band Protocol X Swipe

The teams have been working to develop a custom price oracle for its native token SXP/USD pair. With this partnership, the platforms aim to develop a secure price oracle that diversifies all the dependable factors including update time and costs. The Swipe team seeks to develop a custom oracle facilitating scalability, accuracy, and security of data with this partnership.

Band Protocol X Swingby

The implementation of oracles will allow the Swingby DeFi product to incorporate a risk mechanism and control the price difference between two assets. This will further support its decentralized finance applications and allow a robust platform for cross-chain atomic swaps.

Bottom Line

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About Ubik Capital

Ubik Capital has a worldwide presence in North America and Europe and will provide around-the-clock coverage for our servers and the Band Protocol community. Our team’s experience and expertise with setting up and managing multiple blockchain nodes, hands-on military-grade cybersecurity, software development, and AWS training, and technical program management uniquely qualify us for success in the validator role.