LunaDEX Strategically Partners With Band Protocol to Secure Solana-Based Decentralized Exchange
LunaDEX, a decentralized exchange built on Serum and leading web-scale blockchain platform Solana, has integrated Band Protocol price feeds for over 125+ crypto assets as well as 14 foreign exchange rates for spot trading and the wallet interface. This strategic partnership aligns LunaDEX to integrate Band Protocol for the upcoming margin trading and lending applications which are due to launch next year.
Serum is a decentralized exchange (DEX) and ecosystem that brings unprecedented speed and low transaction costs to decentralized finance by building on the Solana blockchain. The LunaDEX mission, by building a decentralized financial product suite, is to remove the user needs of funneling through a CEX to access large amounts of liquidity or a particular service.
With the integration of Band Protocol, LunaDEX is ensuring the information and price data provided to users is cross-verified with up to 12 unique and reputable data sources that are being facilitated in a decentralized manner to omit any single points of failure through the BandChain oracle network.
“Strategically partnering with Band Protocol and integrating its price feed helps LunaDEX build a secure, robust, high-performance decentralized exchange and DeFi applications which will serve millions of users in the near future. We are exploring more collaboration opportunities to implement the vision of capturing unaddressed demand in DeFi and bring the best experience to users.”
Vinh Nguyen, Co-Founder of Luna Network
LunaDEX users and the Serum community will be empowered to make informed decisions based on reliable and trusted price information that is built to navigate away from dependencies and centralization risks.
“Band Protocol is excited to strategically with LunaDEX, our first Serum and Solana DApp integration, to provide secure price oracles for spot trading and the wallet interface. We look forward to supporting the team as they launch a DeFi product suite covering margin trading, lending, insurance and derivatives.”
Soravis Srinawakoon, CEO & Co-Founder of Band Protocol
Band Protocol is excited to collaborate with LunaDEX, our first Serum and Solana-based DApp integration of many to come. Stay tuned next week for the official launch of LunaDEX on Twitter!
Luna DEX is a fully decentralized exchange empowered by the high-speed, low-latency, and low-cost layer 1 Solana Blockchain and integrated with Serum’s efficient automated on-chain limit Order Book. It deploys a user-friendly interface along with a wide range of differentiated functionalities to optimize the user experience in cryptocurrency trading.
Luna DEX is a vital part of Luna Network — a suite of DeFi products that focus on capturing unaddressed demand in DeFi in an innovative and user-focused way.
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.
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