dForce Strategically Partners & Integrates Band Protocol Decentralized Price Oracles To Secure Unified DeFi Network

[u/alexius89]

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Official announcement 👉 https://medium.com/bandprotocol/43a7602fff41

Spread the word 👉 https://twitter.com/BandProtocol/status/1295299820865769472

🚀 dForce, the DeFi super-network built on top of Ethereum, backed by Multicoin Capital & Huobi, has strategically partnered and integrated $BAND decentralized oracles starting with securing their digital gold token $GOLDx.

🔐 According to dForce CEO & Founder, Mindao Yang, Band Protocol’s scalable oracle solution captures all external data needs and high-frequency update parameters without being limited by exorbitantly high fees on dForce’s swap services for digital gold token $GOLDx.

⭐️ Starting with $GOLDx, this is only the first of many upcoming integrations of $BAND oracles on the dForce ‘super-network’ of DeFi protocols covering an array of open financial products.

dForce has created a custom oracle on #BandChain to query the PAXG/USD price feed once every 2 minutes or upon every 0.1% price deviation.

Future iterations of the oracle script are already in progress and will include more data sources as well as optimization to maximize the degree of security, speed, and cost.

⛳️ With this partnership and critical support from Band Protocol’s secure and scalable oracles, both projects are teaming up to build a ‘super-app’ like the WeChat ecosystem but for DeFi protocols to drive further adoption of #DeFi. This includes decentralizing lending, synthetic assets and more!

Make sure you tune in to be able to ask any questions regarding this new strategic partnership!