Oasis Partners with Band Protocol to bring Open Finance to Mass Market
Band Protocol’s scalable and decentralized oracle solution is coming to Oasis Network, empowering the mission to bring mass adoption of open finance beyond traders and early adopters. The Oasis Network is the first privacy-enabled blockchain platform with confidentiality primitives. Oasis Network is scalable and ideal for DeFi due to its instant finality, 99% lower gas fees versus Ethereum, high throughput, privacy protection and defense against MEV.
With Band’s time-tested, decentralized oracle, Oasis Network is empowered to bring many possibilities in bringing a rich ecosystem of decentralized applications to life.
Grow DApps Ecosystem with a Reliable Stream of Data Feeds
With an ambitious plan to support many decentralized applications, the Oasis Network chooses Band’s oracle solution to start on the Emerald, the official EVM compatible ParaTime, dedicated to DeFi, NFT, and Metaverse. The Band Standard Dataset infrastructure will give the ecosystem access to more than 230 price feeds — the largest data feed collections in the industry to equip developers to build fundamental layers of DeFi applications such as decentralized exchanges and lending protocols. Lending protocols will depend on oracle data to execute core functions such as assessment of collaterals for lending and liquidation. Afterwards, other DeFi applications in derivatives products can build on to the existing lending ecosystem to bring new value offerings to users.
“The end of 2021 is just the beginning for the DeFi and NFT ecosystem for Oasis. We expect in Q1 2022 to have a significantly growing protocol ecosystem which is ensured through our grants and acceleration programs. We are excited to offer Band Protocol’s data feeds to all of these protocols.” said Ekin Tuna, Head of Business Development for Oasis Foundation
Band Protocol will be working closely with Oasis network to help nurture the ecosystem, with expected launch on testnet by the end of November, and on mainnet after in the early next year.
Oasis is the leading decentralized, privacy-enabled, layer-1 blockchain network. Combined with its high throughput, low gas fees, and secure architecture, the Oasis Network is able to power scalable DeFi, revolutionizing Open Finance and expanding it beyond traders and early adopters to a mass market. Oasis has many key backers including Andreessen Horowitz, Polychain, and Binance Labs, and several projects already building on its network & partners such as the CryptoSafe Alliance with Binance, The BMW Group, Chainlink, Balancer, and others. Oasis is among the top three invested blockchains and has one of the fastest-growing developer networks in the industry.
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.