DSLA Protocol Partners With Band Oracle To Power Decentralized Service Level Agreements On Mainnet
DSLA Protocol, a decentralized finance alternative to Service Level Agreements (SLA), has chosen Band Protocol to power DSLA smart contracts and created custom decentralized oracle to bridge staking analytics from the DSLA decentralized performance monitoring data indexer. Band Protocol will also be joining the DSLA Incentivized Beta which will provide BAND delegators a decentralized hedge against validator performance while enabling anyone to earn rewards for protecting BAND staking deposits against staking risks.
DSLA Protocol creates a decentralized marketplace of peer-to-peer SLA contracts for anyone to freely buy and sell protective insurance against service delays and disruptions. This enables anyone to vouch for the reliability of service, earn rewards when the service performs as expected, and claim financial compensation in the event the service doesn’t meet expectations.
“DSLA Protocol was created to solve the currently slow, legal and manual solution to service level delivery. To do so, it’s critical to integrate with the strongest oracle service that provides the highest level of scalability and security guarantee in a decentralized environment. We are thrilled to choose Band Protocol as our oracle partner who have demonstrated world-class ability to cope with our demands and integration requirements.”
Wilhem Pujar, CEO & Co-Founder of Stacktical/DSLA Protocol
The integration with DSLA Protocol is an exemplar of how customized Band Protocol oracles can be from end-to-end — in this case, bridging external proprietary company data on-chain for smart contracts to utilize. Band Protocol’s cross-chain oracles will be responsible for securing the status and resolution protocol of decentralized service level agreements in the upcoming incentivized beta as well as the Mainnet launch targeting November 2020.
“Band Protocol is thrilled to be working with DSLA Protocol to introduce secure and high reliable decentralized service level agreements to the world. Secured by DSLA’s custom BandChain oracle, this will bring a cutting edge solution to the outdated and ineffective SLA contract solutions while incentivizing performance from Proof-of-Stake validators and for users to insure against service disruptions.”
Soravis Srinawakoon, Co-Founder & CEO of Band Protocol.
Band Protocol is excited to continue working with DSLA Protocol to improve and expand on the current data oracle integration as they ramp up towards their Mainnet in November 2020. Decentralized finance is beginning to expand into alternatives other than the common lending, synthetic asset and exchange protocols — Band Protocol is at the forefront to support all upcoming applications with custom decentralized oracle technology.
About DSLA Protocol
DSLA Protocol enables anyone to hedge against service delays and disruptions, using peer-to-peer service level agreements and programmable insurance payouts. While traditional service level agreements (SLA) provide a legal framework for setting expectations and settling disputes with third-party service providers after performance incidents, as a legal answer to a service delivery problem, SLA contracts are slow to deploy, quickly outdated, hard to enforce, and ultimately create an incentive to deliver minimum service at minimum cost. As a decentralized alternative to SLA contracts, DSLA contracts are a new kind of service governance vehicle that requires no legal expertise to be rolled out, require no customer support to handle claims, and that equally drives growth for providers and better quality of service for their customers, using crypto-economic incentives.
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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.
Website | Whitepaper | Telegram | Medium | Twitter | Reddit | Github