Band Protocol Mainnet Rollout Plan
What you can expect from the launch early next week
In less than 4 days, Band Protocol will go live with the initial rollout on Ethereum Mainnet. As illustrated in our roadmap, this is the first step to kick start Band Protocol ecosystem and provide necessary infrastructure toward building decentralized oracle on Ethereum blockchain. Here’s what you will be able to do once Band Protocol goes live on Monday, September 30th:
1. Stake dataset tokens, secure the oracle, and earn query fees
Upon the launch, Band Protocol will feature an initial set of trusted data providers. We’ve been working hard to onboard only reputable entities to run data feed nodes and this list will grow over time. This means you will be able to purchase price dataset tokens using BAND tokens and start staking right away through the Data Governance Portal.
In later releases, the process of selection for the data providers will be made as decentralized as possible by opening it to be completely governed by the community — but for extra caution and faster iteration on feedback the protocol will operate this way until we are assured of the protocol's security and behavior on mainnet.
2. Develop dApps that rely on financial data from Band Protocol decentralized oracle
With Band Protocol’s decentralized oracle, dApps will be able to consume price information from our price feed smart contract within just 4 lines of Solidity code. In the initial launch, two pairs of price data will be available: BTC/USD and ETH/USD. More data feeds are scheduled to be released in the upcoming weeks. Developers can start using Band Protocol right away by following detailed instructions from our developer documentation or video tutorial on integration example. While testnet data feed integrations have been live for a few months with 100,000+ queries, this is the first time that the price data feed that’s cheaper, faster, easier-to-integrate than existing solutions will be available on Mainnet.
BitSwing to Launch on Mainnet
In addition to the smart contracts and the Data Governance Portal launch on Mainnet, we’ll also be releasing BitSwing, world-first fully decentralized binary options trading app on Ethereum Mainnet. Users of BitSwing will be able to hedge their trading positions long or short with the benefit of no counterparty or custodial risk, and also with the launch of BitSwing, data providers and stakers will start benefiting from the accrued query fees, estimated to be over $300,000 per annum. It also marks the first dApp Mainnet integration using Band Protocol, providing a strong example of the power of its capabilities with many more dApps to come.
Looking Ahead
If you’re excited about the launch, don’t forget to try our testnet and familiarize yourself with our Data Governance and Staking Portal. A detailed guide on how staking works in Band Protocol will be released in the upcoming days. Stay tuned!
Official Telegram Channels
🌎 Announcements: https://t.me/bandprotocolann 🌎 English: https://t.me/bandprotocol 🇨🇳 Chinese: https://t.me/bandprotocolCN 🇰🇷 Korean: https://t.me/bandprotocolKR 🇻🇳 Vietnamese: https://t.me/bandprotocolVN
- Paul Nattapatsiri, CPO at Band Protocol
About Band Protocol
Band Protocol is a decentralized oracle framework for Web3.0 applications. Band Protocol connects smart contracts with trusted off-chain information, provided through community-curated oracle data providers. Blockchains are enabled to connect to any web API with assured data integrity through dPoS economic incentives through one simple function call. Developers using Band Protocol will be able to easily build and manage off-chain oracles, reputation scores, identity management systems and much more.
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