Asset Addition Proposal - $BAND

Band Protocol is the price data oracle built on top of the Cosmos SDK and uses Tendermint’s Byzantine Fault tolerance (BFT) consensus to provide immediate and accurate oracle data across multiple blockchains. Band Protocol is currently used on Binance Smart Chain and is the oracle used by the Venus Protocol, and has a rapidly growing community. As far as how it stacks up against Chainlink, Band Protocol is likely to forge its own name in the DeFi space in 2021 as more and more developers look for an oracle alternative not built on Ethereum to save on gas fees and to speed up their Dapps. Binance themselves trusts the Cosmos SDK to build the Binance Smart Chain, so the technology backing it is strong. I would love to have the option to choose between supplying LINK or BAND on Venus, as both will be important oracle networks for DeFi in the future.

1 Like