ICONFi to Support BAND Staking and Strategically Partners With Band Protocol For Secure Reference Price Feeds
ICONFi is proud to share our strategic partnership with Band Protocol, a long-term supporter of the ICON ecosystem and leading oracle solution with over 4M+ oracle requests in production and an estimated $10B in total value secured. To best deliver an intuitive interface for ICONFi’s multi-faceted DeFi platform, it’s imperative to have highly reliable and secure reference price feeds.
“ICONFi has been growing at an incredible pace. To ensure the highest degree of security with speed to market, Band Protocol’s decentralized and real-time price data will be an integral part of our future, especially with new DeFi product offerings that we want to make available to our global clients.”
Sean Kim, CEO & Co-Founder of the ICONFi
Band Protocol, backed by the likes of Sequoia Capital and Binance, offers the most extensive data availability through the Band Standard Dataset for both foreign exchange and digital assets. With over 196+ feeds on the Band Standard Dataset, Band Protocol offers the largest and most frequently updated price oracle feed for foreign exchange and crypto-assets.
All oracle requests are fulfilled on BandChain, a decentralized oracle network with over 72+ active validators and $1.3B bonded to secure the network — ensuring that ICONFi users will always have access to reference price feeds for every product.
“With the first DeFi applications launching on ICON network, Band Protocol continues to support as a strategic and ecosystem partner through community initiatives and technical implementation. We are delighted to support the ICONFi platform with decentralized oracles for all products present and future.”
Soravis Srinawakoon, CEO & Co-Founder of Band Protocol
ICONFi will also be supporting BAND staking, allowing users, both BAND and ICON communities to stake and participate in the BandChain decentralized oracle network with auto-compounding to maximize block rewards and oracle fees.
Band Protocol is also a key launch and oracle partner for Balanced, the first DeFi platform built natively on ICON due to launch in four days. We are excited to work with Band Protocol in the long-term to scale our product offerings in a highly secure and decentralized manner through their oracle solution — stay tuned for more details on our upcoming DApp browser and liquidity provision mechanisms.
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.
ICONFi is a digital asset savings platform that provides simple & intuitive earn products so that anyone can easily multiply crypto assets. ICONFi aims to simplify the complicated processes often associated with crypto assets and offers a sleek, straightforward user interface which supports saving, staking and airdrop activities at the palm of your hand.