Fantom strengthens strategic partnership with Band Protocol by Launching BandChain Node
Fantom is excited to officially announce our validator node launch on BandChain – the decentralized oracle network powered by our strategic partner Band Protocol. By operating a BandChain node, the Fantom Foundation is actively participating in the decentralized data query process – this further aligns our teams economically to increase the degree of security and growth of both platforms.
With Fantom in a stage of rapid expansion, Band Protocol is securing $411M in value locked in Fantom smart contracts across liquid staking and synthetic assets already with more cross-chain DeFi to come including fLend.
“Band Protocol has proven to be a leading oracle for Fantom,and is now securing almost half a billion dollars on the network. We are thrilled to become a BandChain validator, further align long-term incentives between both teams as we continue to integrate their scalable oracles on all Fantom Dapps.”
Michael Kong, CEO of Fantom
The validator node is live, enabling both Fantom and Band Protocol communities to delegate BAND to support the Fantom Foundation node. Most recently, Band Protocol deployed support for 19 decentralized price feeds for the top #DeFi assets on the Opera Mainnet – this has been integrated by some of the best building teams in the space and we are excited to share more details soon!
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.
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Fantom is a fast, scalable, and secure layer-1 platform built on an aBFT consensus protocol. The speed and low transaction costs make Fantom ideal for real world uses, such as payments, supply chain, and defi applications. Its technology is used in a pilot program in Afghanistan to help solve drug counterfeiting and is the first of many government initiatives the Fantom Foundation is pursuing. Fantom recently released Fantom Finance, an all-in-one defi suite for trading, lending, and borrowing directly from the Fantom Wallet. Users can supply the native cryptocurrency to mint fUSD, a US dollar pegged stablecoin.
For more information, please visit: https://fantom.foundation/