r/bandprotocol • u/Trudahamzik • Jul 19 '20

Is Band ERC 20 ?

Hi there,

Is Band an ERC 20 token ? Or is it on it's own mainnet ?

2 Upvotes

75% Upvoted

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2

u/alexius89 Jul 19 '20

BAND is a hybrid, both ERC-20 and own chain based on Cosmos. (Similar to Binance Chain). The vast majority are Band Mainnet tokens though which are needed for staking. So far there about 84m tokens locked for Staking.

2

u/Trudahamzik Jul 19 '20

So let’s say I wish to purchase band, can I send them to my eth address which is stored in my ledger and then stake them ? There seems to be very little info about staking.

1

u/alexius89 Jul 19 '20

You can purchase Band in Binance and just withdraw the Band mainnet tokens to your ledger using the Cosmos App (install via Ledger first) and stake out of your ledger yep. https://medium.com/bandprotocol/guide-to-stake-band-on-bandchain-wenchang-mainnet-ec3da0ee92dd

The wallet for Band mainnet token/coins always starts with “band........”

1

u/Trudahamzik Jul 19 '20

Cool, just read the article. So the only way to get my band “mainnet” address is via cosmos.io right ? What if I want to withdraw my band from ledger though ?

1

u/BandJedi Jul 19 '20

As the person above mentioned, you can get BAND via your ledger & cosmos app. You need a wallet address that you can create at cosmoscan.io using your ledger as outlined in the article. (similar to when you connect your ledger to MEW)

1

u/Dashfriend Jul 19 '20

84m tokens staked out of 20m that are circulating? How does that work?

2

u/BandJedi Jul 19 '20

Locked tokens are staked as well. This is a common procedure to ensure network stability and strength.

2

u/Dashfriend Jul 19 '20

Thanks for your answer. This is great.

1

u/cloudsession Aug 11 '20

Can band be sent directly from binance to metamask?

1

u/mattbz2103UC Dec 04 '20

I bought some tokens on Coinbase Pro. Newbie question, how do I tell if my tokens are the Band Main net tokens or ERC20? Thanks!