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Integration

Band Protocol x Celo L2 Testnet: Empowering Scalable, Secure, and Inclusive DeFi

Band Protocol is thrilled to integrate with Celo L2, marking a transformative step forward in decentralized finance. This collaboration combines Celo’s commitment to global financial inclusion with Band’s expertise in delivering accurate and decentralized Oracle solutions.

Band Protocol x Celo L2 Testnet: Empowering Scalable, Secure, and Inclusive DeFi
Band Protocol x Celo L2 Testnet: Empowering Scalable, Secure, and Inclusive DeFi

TL;DR

  • Band Protocol is now live on the Celo Alfajores L2 Testnet, merging decentralized Oracle solutions with Celo’s scalable Layer 2 network.
  • Band Oracle brings real-time, secure price data for key assets like BTC, CELO, CUSD, DAI, ETH, EUR, USDC, and USDT, with more assets to be added as it grows.
  • Developers on Celo L2 can now access Band Standard Reference Contracts for seamless integration of price feeds.
  • The upcoming milestones focus on optimization and preparation for the Celo L2 mainnet launch.

Band Protocol is thrilled to integrate with Celo L2, marking a transformative step forward in decentralized finance. This collaboration combines Celo’s commitment to global financial inclusion with Band’s expertise in delivering accurate and decentralized Oracle solutions. Together, we’re equipping developers with the tools needed to build scalable and secure DeFi applications

By bringing Band Price Oracle to Celo L2, we aim to provide developers, projects, and users with enhanced data integrity, security, and real-time accuracy, reinforcing Celo’s commitment “to build a regenerative digital economy that creates conditions of prosperity for all.”

Why Celo Alfajores L2?

Celo L2, or Celo Alfajores Testnet, offers scalability and cost-efficiency, enabling seamless interactions within the Celo ecosystem. As Celo transitions from a standalone EVM-compatible Layer 1 blockchain to an Ethereum Layer 2, it strengthens its bond with Ethereum while aligning with the broader Web3 ecosystem. With a focus on open-source collaboration and public goods development, Celo L2 provides the perfect environment for Band Protocol’s decentralized Oracle solutions.

With this Celo Alfajores L2 Testnet integration, Band Protocol enhances the platform by introducing essential data infrastructure for DeFi applications. This collaboration enables dApps on Alfajores L2 to leverage accurate, cross-chain price data effortlessly through Band’s decentralized oracle. Developers on Alfajores can now access real-time price feeds, providing essential support for DeFi, GameFi, NFTs, and more—all without compromising on speed or security.

How Band Protocol works on Celo Alfajores L2: a Technical Overview

Understanding how Band Protocol integrates with the network is crucial for developers interested in building on Alfajores. By deploying Band Standard Reference Contracts on Celo Alfajores L2, developers can incorporate secure, reliable price data and cross-chain information from multiple external sources, ensuring that their dApps function smoothly and accurately on the Layer 2 network.

How Band Protocol works on Celo Alfajores L2: a Technical Overview

Here’s how Band Oracle operates in the Alfajores L2 ecosystem:

  1. Requests Data: Band Oracle aggregates data from external sources such as CoinMarketCap, CoinGecko, and Binance.
  2. Aggregates Data: Using BandChain’s consensus mechanisms, the data is processed and verified to ensure its accuracy before relaying.
  3. Relays Data: The verified data is securely transmitted to Band’s reference contracts on Celo Alfajores L2, maintaining its integrity.
  4. Reads Symbol: Celo dApps can request real-time data, like BTC/USD or ETH/USD, directly from these contracts.
  5. Sends Price Data: The requested data is sent back to the dApp, enabling real-time functionality such as automated trading or price updates.

What This Integration Brings to Celo L2

Access to Decentralized Price Data

Band Protocol’s integration with Celo L2 Alfajores Testnet grants builders access to decentralized price data via the Band Standard Dataset for key assets, including BTC, CELO, CUSD, DAI, ETH, EUR, USDC, and USDT. More assets will be added in the future, offering robust support for innovative DeFi applications.

Enhanced Security and Decentralization

Band Protocol’s decentralized oracle infrastructure ensures that projects built on Celo L2 are secured with trustworthy data, free from single points of failure. This enhances the network's overall resilience, aligning with Celo's commitment to provide secure and sustainable financial solutions.

Scalable Solutions for Celo’s Vision of Financial Inclusion

By integrating Band Protocol, Celo L2 gains access to scalable and efficient oracle services that support the development of decentralized applications (dApps) designed for global financial inclusion. Builders can now deliver robust solutions to users worldwide, backed by reliable on-chain data, which help empower the upcoming decentralized finance on Celo L2.

Get Started with Band Protocol on Celo!

Are you ready to build on Celo using Band Protocol’s Oracle solutions? Explore these tools to kickstart your journey with Band Protocol and Celo L2 Alfajores Testnet.

Essential Resources for Building on Celo

Leveraging Band Protocol’s Price Feeds on Celo

Example Solidity Contract: Query prices for BTC/USD and ETH/BTC


import interfaces/IStdReference.sol;

contract DemoBulk {
    IStdReference public ref;

    constructor(IStdReference _ref) public {
        ref = _ref;
    }

    function demo_bulk() external view returns (IStdReference.ReferenceData[] memory) {
        return ref.getReferenceDataBulk(["BTC", "ETH"], ["USD", "BTC"]);
    }
}

Example Solidity Contract: Query prices for BTC/USD and ETH/BTC

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Start your journey today and bring your dream applications to life with Celo L2 and Band Protocol!

Join Our Inclusive Community

Join our community of builders and innovators driving the future of DeFi with Band Protocol and Celo. Whether you’re a developer, investor, or enthusiast, there’s a place for you!

Contribute to Band Protocol

Take part in Band Protocol’s initiatives to empower Web3 development:

Contribute to Celo L2

Get involved in building with the Celo ecosystem:

Let’s build the future of Web3 together—secure, scalable, and inclusive!

A Collaborative Vision for the Future of DeFi

The integration of Band Protocol with Celo L2 underscores our shared commitment to making blockchain-powered finance accessible to everyone, everywhere. As part of this journey, we’re dedicated to expanding the range of symbols available on Band price feeds and continually simplifying the onboarding process to foster growth across the ecosystem.

As we look ahead to the mainnet launch, we’re eager to see developers build innovative applications using Band’s Oracle solutions on Celo L2 Testnet. By combining Celo’s Layer 2 scalability with Band Protocol’s reliable and decentralized oracles, this integration paves the way for a new generation of decentralized applications that are both user-friendly and globally impactful.

About Celo

Celo is a blockchain network designed for the real world, with a mission to build a regenerative digital economy that fosters prosperity for all.

Celo is an emerging Ethereum Layer-2 designed to make blockchain technology accessible to all. With its focus on scalability, low fees, and ease of use, Celo is ideal for building blockchain products that reach millions of users around the globe.

Learn More about Celo: https://celo.org

About Band Protocol

Band Protocol is a cross-chain data oracle platform with the aspiration to build high-quality suites of web3 development products. The flagship Oracle solution aggregates and connects real-world data and APIs to smart contracts, enabling smart contract applications such as DeFi, prediction markets, and games to be built on-chain without relying on the single point of failure of a centralized oracle.

More about Band Protocol: https://linktr.ee/bandprotocol

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