Band Protocol Integrates with Nervos’ Godwoken
We’re excited to announce that Band Protocol has successfully integrated our price feed with Nervos’ Layer 2, Godwoken to the mainnet. Band Protocol is committed to providing the most secure and decentralized price feed solution at a reasonable price to all our partners. This partnership with Nervos’ Godwoken will help bring further integrations with various dApp developers who are working under the Nervos ecosystem, allowing them to gain access to a wider range of reliable data feeds that enable these builders to successfully launch their dApps within the web3 industry.
What is Nervos’ Godwoken?
Nervos Layer 2’s Godwoken is now 100% EMV-compatible, meaning that it now allows developers to easily launch a variety of dApps ranging from DeFi to gaming and NFTs that are multi-chain. In addition, providing instant interoperability to other chains will also allow the projects to expand and grow their audiences even faster than before, therefore saving their time from having to build different versions of the dApps for different blockchains.
Moreover, Godwoken is Nervos’ stepping stone to providing a permissionless and decentralized environment where all dApps and project developers can easily migrate existing dApps from Ethereum onto Godwoken. These developers will also be able to provide faster transactions to their users on Godwoken, therefore creating a fluid and seamless experience for all users to enjoy within the ecosystem. With all the benefits tailored for Web3 developers, Godwoken’s all-inclusive dApp ecosystem is quickly becoming a one-stop place for developers who envision a multi-chain future.
How does Band Protocol contribute to Godwoken?
Currently, BAND’s oracle is mainly being used to power the lending component of the Hadouken project which is a lending dApp on Godwoken , The Nervos layer 2’s ecosystem as a whole. Oracle is a crucial part of any lending dApps. Without a reliable and trustworthy price feed, lending dApps like Hadouken wouldn’t be able to function. The Hadouken team is currently working to allow crowdsourced liquidations on their dApp and Band Protocol’s integration will play a big role in this upcoming milestone.
Our Future Milestone with Nervos
With Nervos’ ultimate goal of becoming “the universal passport to blockchain”, its interoperable network across the blockchain ecosystem with a multi-chain solution will allow more and more dApps to be launched on Nervos. Band Protocol will continue to provide secure and trustworthy oracle price feeds for Nervos’ dApps to use. We are excited to be a part of this journey to help propel Nervos to becoming the future-proof blockchain platform of choice for Web3 developers.
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.
The Nervos Network is a collection of protocols and public blockchain aiming to solve the biggest challenges facing blockchains like Bitcoin and Ethereum today. The Nervos Common Knowledge Base (CKB) is the layer 1, proof of work, public permissionless blockchain protocol of the Nervos Network. It allows any crypto asset to be stored with the security, immutability, and permissionless nature of Bitcoin while enabling smart contracts and scaling with layer 2 (Godwoken). Its unique crypto-economic model is designed to better align the interests of users, developers, and miners as compared to first-generation blockchains.
Godwoken is an EVM-compatible, layer 2 optimistic rollup solution built on the Nervos layer 1 blockchain. Godwoken creates a scalable EVM-equivalent solution for Nervos, providing dApp builders the advantages of Ethereum — like its mature libraries, robust tooling, and documentation — without the drawbacks, such as network congestion and high gas fees.
Hadouken is the first and only place on Godwoken where users can lend out — and borrow against — their CKB, as well as a range of other tokens bridged over from Ethereum and Binance Smart Chain (BSC). Initial supported assets include CKB, ETH, WBTC, BNB, USDC, and USDT, with support for more assets coming in the near future. Hadouken began as a humble stableswap, but is much more than that. Users can now also seamlessly swap between ETH & CKB, ETH & USDC, and even WBTC & USDC.