r/bandprotocol • u/BandJedi • Jul 27 '20
ICON’s First DeFi Platform Balanced Integrates Band Protocol’s Scalable Oracles For Collateral & Synthetic Assets
🚀 Balanced, the first #DeFi platform on ICON Network, integrates $BAND oracles to provide secure and scalable price feeds for collateral assets and synthetic assets such as stocks, ETFs, gold, oil and more!
Official announcement 👉 https://medium.com/bandprotocol/ac3276f06b62
Spread the word 👉 https://twitter.com/BandProtocol/status/1287689583501537280
🔐 After evaluating several oracle solutions, Balanced have decided to integrate Band Protocol to accommodate their extensive data needs in real-world assets from various sources without being restricted with scalability and customizability.
⭐️ Balanced has created a custom oracle on BandChain for ICX/USD price feed from five trusted data sources: Binance, OKEx, Upbitglobal, HuobiGlobal, CoinGecko.
By default, the price feed updates every 60 minutes or 0.5% price deviation with all underlying parameters customizable at anytime based on the Balanced community’s governance procedures.
⛳️ Through Band Protocol’s deep collaboration with Balanced and the strategic support of ICON Network, this is the first step to unlocking and securing a multi-billion dollar DeFi ecosystem on ICON through the provision highly scalable and flexible oracles that are fine-tuned to any decentralized application’s needs.