Band Protocol ($BAND) is a cross-chain data oracle platform that aggregates and connects real-world data and APIs to smart contracts to facilitate the exchange of information between on-chain and off-chain data sources.Band Protocol initially launched as an ERC-20 project on the Ethereum blockchain in September 2019.
Blockchains are great at immutable storage and deterministic, verifiable computations. However, they cannot access trusted real-world information available outside their networks. Band Protocol enhances smart contract functionalities by granting them access to reliable data without any central points of failure.
Decentralized Finance applications need price feeds on token swap and loan collateralization process. With Band Protocol’s built-in price oracle, developers can build DeFi with an absolute peace of mind that the price feeds they’re using are robust and tamper-proof.
Band Protocol's flexible oracle design allows developers to use any data including real-world events, sports, weather, random numbers and more. Developers can create custom-made oracles using WebAssembly to connect smart contracts with traditional web APIs within minutes.