Band Protocol Partners With Polygon to Bring Decentralized Oracles to Polygon’s Ecosystem of DeFi, NFT & Gaming DApps
March 19, 2021
The Polygon ecosystem is rapidly growing to support more DeFi, NFT and gaming platforms in partnership with Band Protocol — a leading decentralized oracle solution providing developers with a higher degree of data availability, security and scalability. With Band Protocol, Polygon developers will be empowered to match platform scalability with a high-performance oracle network that provides security, usability and unmatched access to any external data needs.
We encourage all Polygon developers to secure their decentralized applications with Band Protocol oracles which have been battle-tested by time and are currently securing over $7B in total value in smart contracts. To begin, the Band Standard Dataset is available for Polygon developers covering over 150+ price feeds for crypto assets, commodities and foreign exchange.
“With the strong expansion seen through the growing numbers of teams and projects building on Polygon, our team works to bring the industry-leading developer tooling required to build and scale smart contract applications. We are proud to support and integrate Band Protocol, a leading decentralized oracle with an estimated $7B+ in value secured, to enable Polygon developers to create custom decentralized oracles for any use-case including real-world events and VRF.” — Jaynti Kanani, CEO & Co-Founder of Polygon (Matic Network)
Polygon has added Band Protocol to our official developer resources, enabling developers to integrate The Band Standard Dataset which covers over 150+ price feeds spanning across crypto assets, commodities and foreign exchange. The technical documentation provides an accessible guide for existing and upcoming projects to integrate Band Protocol, test implementations and will be continuously refined as more features are added.
With the addition of Band Protocol into the Polygon ecosystem, developers now also have the ability to connect any external data source on the open internet and create custom decentralized oracles without being restricted by centralized processes, maintenance and rigorous setup procedures. Most interestingly, Band Protocol, alongside an academic advisor yet to be revealed, is in the final stages of development for their VRF feature which will provide Polygon developers with a solution for cost-effective, reliable and secure randomness including number generation.
Stay tuned for our exciting work coming up with Band Protocol!
Read the partnership announcement from Band Protocol here.
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.
Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building and connecting Secured Chains like Plasma, Optimistic Rollups, zkRollups, Validium etc and Standalone Chains like Matic POS, designed for flexibility and independence. Polygon’s Layer 2 Chains have seen widespread adoption with 90+ Dapps, ~7M txns and ~200K unique users.
If you’re an Ethereum Developer, you’re already a Polygon developer! Leverage Polygon’s fast and secure txns for your Dapp, get started here.
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