Stellar Community Fund – Band Protocol Oracle Solution

Products & Services

Band Protocol is a leading cross-chain data oracle provider that aggregates and connects real-world data and APIs to smart contracts. In addition to our flagship oracle product and network, we’ve just launched a verifiable random function (VRF), which allows smart contracts to securely generate a random value and provide proof.

BandChain is based on Cosmos SDK, designed to be compatible with all smart contract platforms and blockchain development frameworks. In a trustless and decentralized manner, BandChain does all the heavy lifting jobs of pulling data from external sources, aggregating, and packaging them into a format that is easy to use and cryptographically verified across multiple blockchains. Unlike general-purpose blockchains, BandChain is designed explicitly for oracle data requests and computation. Data request transactions are both received and resolved very quickly, with an average block time of 3 seconds. We currently provide cryptocurrencies, foreign exchange rates, and commodity prices on 19 chains, including Ethereum, BNB Chain, Avalanche, Cronos, and we've also integrated with multiple projects on their testnets. Band Protocol work with different chains and Defi apps like lending protocols, perpetual protocols, and yield protocols to feed them accurate real-world data. Furthermore, our data source scripts and oracle scripts allow maximum customization and flexibility for the user to query and compute their desired data feed.

As for our VRF, Randomness is a fundamental function that helps to operate many decentralized applications (dApps). However, the root and foundation of this vital randomness mechanism are often neglected. Band’s VRF service addresses the fundamental issues that threaten the integrity of various Web3 use cases by providing a pseudorandom output along with proof of authenticity that validates the random number generation process. Four main features of our VRF include unpredictability, unbiased, verifiable, and tamper-proof.

No items found.

Previous Project(s)

No items found.

Progress so far

Goals

To get there, we request a budget of

60,000

to:

Additional information

Since Stellar has a strong foundation and ecosystem, we believe that many talented builders will be building on Soroban. Having said that, we've already asked our technical team to look over the technical specifications and documents of Soroban. Given that our technical team has multiple experiences in integrating with EVM, WASM, and Rust-based projects in the past, we believe that we have the expertise in integrating with Soroban and therefore provide solid services for dapps wanting to build on Soroban.

Pitch deck

No items found.

Deliverables

First Deliverable

Feeding data on chain, which comprise of sub actions below:

Clarify sources and code data source + oracle script
Set up contract on Stellar
Set up relayer

Reviewer instructions

Reviewer can read the state of the contract to get an asset's price

Links:

World Data Corporation Foundation

Band Protocol is a leading cross-chain data oracle provider that aggregates and connects real-world data and APIs to smart contracts. In addition to our flagship oracle product and network, we’ve just launched a verifiable random function (VRF), which allows smart contracts to securely generate a random value and provide proof. We're a B2B, and we work with the best Defi protocols as well as large Web3 gaming projects. We believe that we can provide quality services to you and your partners.

Team

My Linkedin: linkedin.com/in/buranapongburanasiri

CSO Linkedin: linkedin.com/in/sireethorn-fon-satchatippavarn-11792aaa

The USD valuation of the budget request in XLM will be calculated using the CF Stellar Lumens-Dollar Settlement Price on December 5, 2022 as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR). Learn more in the SCF Handbook.

*The USD valuation of the award in XLM is calculated using the CF Stellar Lumens-Dollar Settlement Price on July 5th as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR)

**The USD valuation of the award in XLM is calculated using the CF Stellar Lumens-Dollar Settlement Price on December 16, 2021 as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR)

*The USD valuation of the award in XLM is calculated using the CF Stellar Lumens-Dollar Settlement Price on September 27, 2021 as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR)

* The USD valuation of the award in XLM is calculated using the CF Stellar Lumens-Dollar Settlement Price on the date of transfer as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR)

*This budget request has not been fully awarded to the project. The USD valuation of the budget request in XLM will be calculated using the CF Stellar Lumens-Dollar Settlement Price on day of payment as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR). Learn more in the SCF Handbook.

*This budget request has been awarded to the project in XLM. The USD valuation of the budget request in XLM will be calculated using the CF Stellar Lumens-Dollar Settlement Price on day of payment as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR). Learn more in the SCF Handbook.