ICONFi to Integrate Band Protocol Oracles and BAND Staking Into Digital Asset Saving Platform
ICONFi, a digital asset savings platform with over $75 million in AUM and designed to provide simple and intuitive products for all users, will launch with support for ICX/BAND staking and integration of extensive price oracles provided by Band Protocol. Led by Sean Kim, CEO of ICONFi, and Min Kim, the founder of the ICON project — Band Protocol joins ICONFi as a key partner to provide highly secure, reliable and low-latency reference price feeds for all products offered on the platform.
For new blockchain and decentralized finance users, decentralized wallets are a new concept and produce various challenges such as lost private keys, keystone files, passwords which lead to a complete loss of assets. Providing an intuitive gateway for staking and both, flexible and fixed savings products for the strongest digital assets, ICONFi automatically compounds interest-earning 6 times a day — keeping savings and DeFi interaction simple for users.
To begin, ICONFi offers flexible savings products which allow users to deposit and withdraw their principal with interest at any time. On the other hand, fixed products earn a higher APR (interest) but carry a longer deposit period of 30/90/180 days. With the Band Protocol integration supporting all savings and staking products through decentralized and real-time reference price data, ICONFi users will be empowered to utilize a verified spot price for digital assets to make informed decisions. This increases the reliability and transparency of ICONFi upon launch, creating an enhanced decentralized finance experience for all.
“ICONFi has been growing at an incredible pace. To ensure the highest degree of security with speed to market, Band Protocol’s decentralized and real-time price data will be an integral part of our future, especially with new DeFi product offerings that we want to make available to our global clients.”
Sean Kim, CEO & Co-Founder of the ICONFi
Staking & Auto-Compounding Support for BAND
ICONFi will also be supporting BAND staking natively on the platform upon launch, this means that users will be able to stake and participate in securing the BandChain decentralized oracle network without having to interact with block explorers, hardware wallets, or worrying about re-staking rewards. With BAND staking rewards re-staked, automatically every day, ICONFi optimizes how users interact and stake on BandChain.
“With the first DeFi applications launching on ICON network, Band Protocol continues to support as a strategic and ecosystem partner through community initiatives and technical implementation. We are delighted to support the ICONFi platform with decentralized oracles for all products present and future.”
Soravis Srinawakoon, CEO & Co-Founder of Band Protocol
Moving Forward
Band Protocol is excited to join ICONFi’s journey to bring DeFi and blockchain technology towards mass adoption through a consolidated simple, intuitive and easy-to-use platform. Aligning with the launch of Balanced, the ICON’s first DeFi Platform, supporting synthetic assets and exchange — Band Protocol is thrilled to contribute further to the growing ICON ecosystem.
About ICONFi
ICONFi is a digital asset savings platform that provides simple & intuitive earn products so that anyone can easily multiply crypto assets. ICONFi aims to simplify the complicated processes often associated with crypto assets and offers a sleek, straightforward user interface that supports saving, staking and airdrop activities at the palm of your hand.
Website | Telegram | Medium | Twitter
About Band Protocol
Band Protocol is a cross-chain data oracle platform that aggregates and connects real-world data and APIs to smart contracts. 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
