Band Protocol, a cross-chain data oracle platform, has reportedly merged its price feed with Nervos’ Layer 2, Godwoken, to the mainnet, as per a recent announcement from Nervos Network.
Fostering Web3 Development
Godwoken’s collaboration with Band protocol will help facilitate future integrations with a wide variety of dApp builders operating within the Nervos ecosystem, giving them access to a greater variety of trustworthy data feeds that will aid in the successful launch of their dApps inside the web3 domain.
As part of Nervos Layer 2, Godwoken is fully EMV-compatible, allowing for the rapid development and launch of a wide variety of dApps, from DeFi to gaming and multi-chain NFTs. As an added bonus, the projects can save time and effort by not having to develop separate versions of the dApps for different blockchains, thanks to the quick interoperability with other chains.
The integration of Band into the Nervos ecosystem provides yet another resource for the growth of dApps in a safe, decentralized environment, furthering Nervos’ goal of being the central hub for web3.
Godwoken’s Hadouken gets a boost
Currently, BAND’s Oracle is primarily utilized to support the lending component of the Hadouken project, which is a defi lending protocol on Godwoken. Lending dApps like Hadouken can’t function without an accurate and trustworthy price feed.
The Hadouken team is now working on integrating Band Protocol, which will play a significant role in enabling crowdsourced liquidations on their dApp.
When it comes to integrating real-world data into web3, Band Protocol provides a secure, decentralized oracle that is forward-compatible across blockchains. Band Protocol currently supports over 25 platforms and processes over 33,000 queries every day.
This is not the first Band and Nervos collaboration. Last year, Band’s Oracle went live on Polyjuice testnet, a layer 2 solution built on top of the Nervos network, after successfully integrating into their layer one.
