Fantom Partners With Band Protocol To Bring Decentralized Oracles Onto DeFi & Government Projects
We’re excited to announce that Band Protocol will be integrated into Fantom’s Opera Mainnet and act as the supporting oracle for various government and decentralized financial applications such as lending, borrowing, and synthetic assets.
Band Protocol is proud to be integrated into the Fantom.finance — first-full feature DeFi platform outside of Ethereum. Band’s oracles will provide reliable price feed data for over 175 tradeable synthetic assets on the fTrade platform and a robust FTM price feed for fLend to which will allow users to borrow/lend tokens to the aggregate liquidity pool.
Additionally, as we all know that cryptocurrency and FTM price can be volatile, Band’s oracles will dynamically specify the correct FTM amount to stake as collateral to mint fUSD to borrow synthetics or lend to earn additional returns.
“Oracle services such as Band Protocol are critical for establishing secure, decentralised data feeds that can be used confidently by developers to build high-performing dAPPs. It has been fantastic working with Band Protocol to provide these tools to the community”
Michael Kong, CTO of Fantom
Fantom is a set of open-source tools to build all kinds of distributed ledger related products with a focus on building the best consensus to be used as a module by those who wish to create a distributed ledger for their needs. We have already successfully integrated Band Protocol’s oracles onto Fantom’s private testnet.
We’re thrilled to collaborate with the Fantom Foundation and look forward to supporting a cutting-edge technology stack that will allow a wide ecosystem of applications to utilise Band Protocol’s oracles.
Soravis Srinawakoon, Co-Founder & CEO of Band Protocol.
Fantom as of early 2020 has been working on multiple government projects. Most notably, Fantom has joined forces the Afghanistan government to prevent counterfeit medication where Band Protocol will connect Fantom with the APIs of pharmaceutical companies to verify the authenticity of medications.
Band Protocol is thrilled to support the multi-faceted layers of blockchain adoption from government to DeFi to healthcare.
Upcoming Joint AMA
We’re looking forward to hosting an AMA in the Fantom Discord Group and in the Band Protocol Telegram to allow both communities to connect while also upholding our goal this year for community outreach.
Fantom Discord Group:
Sunday 22th of March, 17:00 Bangkok time.
Band Protocol Telegram Group:
Monday 23rd of March, 17:00 Bangkok time
The Band Protocol and Fantom team have published a tutorial guide, explaining how to utilize a BandChain oracle on a Fantom Opera testnet.
Getting Started Using Band Oracle on Fantom Testnet
Band Protocol allows you to query data from traditional web APIs and use it in the blockchain. Developers can make…
The Fantom Foundation is committed to building technology that are open source, decentralized Dag-based distributed ledgers. We aim to create fast, secure, and scalable technologies across a wide range of industries, allowing organizations, businesses, and individuals to develop decentralized and secure applications, solving real world problems.
About Band Protocol
Band Protocol is a data oracle platform building the data layer of the Web 3.0. It provides an accurate information feed from community-curated data providers that allows blockchains to access trusted data from outside of the network. This solution is particularly important for the execution of smart contracts, that are triggered by off-chain occurrences. It is open, decentralized and does not rely on third party services. Band Protocol makes dApp (decentralized applications) development simple and allows developers to tap into trusted data sources by integrating a basic line of code.