What is Band Protocol (BAND)?
Decentralized Finance (DeFi) is currently the big hype in the crypto space. All projects in this field are currently experiencing strong demand. Especially various lending services, yield farming protocols, decentralized exchanges (DEX) and oracles. Some of the winners in recent weeks have reached over 1000%. These include not only Aave (LEND), Orion (ORN), yearn. Finance (YFI), but also Band Protocol (BAND).
Oracle protocol BAND is not only essential for the whole DeFi sector but could also benefit from the huge demand for Chainlink and place itself in this important niche. Therefore, in this article, we want to give you an insight into Band Protocol and show you how you can generate passive income with BAND through staking and voting.
In doing so, we want to show you not only what Band Protocol is exactly, but how it works and how you can best use it for yourself. We will avoid technical terms as much as possible and not go too deep into technical details. So even every beginner should get a good understanding of Band Protocol after this article.
What is Band Protocol (BAND)?
As the name Decentralized Finance (DeFi) suggests, it is purely decentralized applications (dApps). However, this directly creates probably one of the biggest problems — how do you connect the real world to the decentralized one? For many decentralized applications, external data such as stock and…
