Band Protocol partners with CoinGecko to bring reliable financial data on-chain
CoinGecko to provide cryptocurrency market data feed for Band financial oracles
Band Protocol and CoinGecko have announced a partnership where CoinGecko will be a data provider for Band Protocol’s on-chain oracles. CoinGecko’s data feed will supply Band Protocol with a reliable source of cryptocurrency market data for use by decentralized application developers.
CoinGecko is a leading cryptocurrency data aggregator in operation since 2014. It provides data on price, trading volume, market capitalization, community growth, code development, and on-chain metrics. CoinGecko tracks data for over 5,700 different tokens from approximately 380 different cryptocurrency exchanges, providing a widely trusted platform that maintains high standards of integrity. The data that CoinGecko aggregates is used by cryptocurrency traders and application developers in evaluating the fast-moving cryptocurrency market.
“The opportunity to work with Band Protocol to expand our business into DeFi is logical, given the huge uptake we have seen in the space over the past year. For us, it presents an intriguing potential new avenue for revenue that will utilise our existing infrastructure. We are excited to support this initiative and will be working closely with the Band team to help improve the product over time.” — TM Lee, Co-founder of CoinGecko
CoinGecko will work closely with Band Protocol to use its data feeds to supply the protocol with a reliable data source and assist them to integrate into the protocol as a data provider. Data providers in Band Protocol earn a portion of the query fee generated each time their data is used on-chain in the connected smart contract — paid by the decentralized application utilizing it.
“We hope that through Band Protocol, CoinGecko and other data centric businesses can be provided with a new method to earn income and expand their business verticals into the decentralized economy. We are very happy to have CoinGecko on board as their reputation in the cryptocurrency community is outstanding and supporting their success will help pave the way for future industry adoption.” — Soravis Srinawakoon, CEO, Band Protocol
CoinGecko will be committed to supporting the wider governance process and development of protocol standards such that Band Protocol can continue to receive constructive feedback from data providers, allowing Band Protocol to continue to grow and provide the tools needed for the applications of the future in the decentralized web 3.0.
Since 2014, CoinGecko has been the trusted source of information by millions of cryptocurrency investors. Its mission is to empower the cryptocurrency community with a 360-degree overview of the market. CoinGecko provides comprehensive information from thousands of data points such as price, trading volume, market capitalization, developer strength, community statistics and more. It currently tracks over 5,700 tokens from over 380 exchanges. For more information, visit https://www.coingecko.com.
About Band Protocol
Band Protocol is a decentralized oracle framework for Web3.0 applications. Band Protocol connects smart contracts with trusted off-chain information, provided through community-curated oracle data providers. Blockchains are enabled to connect to any web API with assured data integrity through dPoS economic incentives through one simple function call. Developers using Band Protocol will be able to easily build and manage off-chain oracles, reputation scores, identity management systems and much more.