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Band Oracle Now Live on Celo's Ethereum L2 Mainnet; Supporting a Digital Economy for All!

We are delighted to share that Band Oracle has successfully migrated from Celo Mainnet (Layer 1) to the new Celo Layer 2 Mainnet. This transition marks a significant step toward the development of Celo’s visionary future by “creating the conditions of prosperity for all”.

Band Oracle Now Live on Celo's Ethereum L2 Mainnet; Supporting a Digital Economy for All!
Band Protocol Has Now Migrated to Celo L2 Mainnet

We are delighted to share that Band Oracle has successfully migrated from Celo Mainnet (Layer 1) to the new Celo Layer 2 Mainnet. This transition marks a significant step toward the development of Celo’s visionary future by “creating the conditions of prosperity for all”. This is not just the start. Band Protocol and Celo have been working together since January 6, 2022, when Band Oracle was first integrated into Celo’s mobile-first DeFi platform. By integrating Band Oracle into Celo L2, all applications on the network can now access real-time and reliable price data, an essential resource for DeFi and Web3 development.

In this article, we will explore how Band Oracle contributes to Celo’s transition to Ethereum L2 mainnet and the value we bring to the Celo ecosystem.

Supporting Celo’s Transition to Ethereum L2

Celo's transition to an Ethereum Layer 2 (L2) solution enhances its scalability, security, and interoperability with the Ethereum ecosystem. As part of this upgrade, Band Oracle has been seamlessly integrated into Celo L2, ensuring that developers and dApps can access high-quality, decentralized oracle data with minimal latency.

Faster Block Time, Faster Data Feeds

One of the most significant upgrades in Celo’s transition to L2 is the reduction in block time from 5 seconds to 1 second. This improvement, combined with BandChain’s oracle-specific architecture, allows developers to query data from Band Price Feed with improved efficiency, ensuring timely and reliable data feeds are available for all applications on Celo L2.

With these enhancements, DeFi platforms, GameFi projects, and other smart contract applications on Celo can now access accurate, tamper-proof external data as needed, aligned with Band’s real-time oracle update schedule.

Band Oracle is Now Live on Celo L2 Mainnet from Day 1

Our integration is fully deployed and operational on Celo L2 mainnet from day one of its migration, providing seamless access to secure and decentralized data for projects building on the network. This immediate availability ensures that Celo developers have been able to leverage Band Oracle to power their applications with confidence from the very beginning of the Celo L2 Mainnet.

Why This Matters for Celo Developers

This integration provides a solid infrastructure for developers eager to build on Celo L2. With Band Oracle live on Celo L2, developers can now:

  • Access high-speed, decentralized data to support DeFi, GameFi, and RWA applications
  • Enhance security and reliability with a time-tested oracle solution designed for multi-chain interoperability and scalability.

By providing accurate and secure price feeds, Band Oracle plays a key role in supporting Celo’s broader mission of creating an inclusive and sustainable blockchain ecosystem.

Build on Celo with Band Protocol

Developers, now it’s time to build real-world solutions on Celo! The section below provides useful resources to help you get started creating with Band Oracle.

Celo

Band Protocol

solidity
CopyEdit
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 Contract: Query BTC/USD and ETH/BTC Prices in Solidity

Looking Ahead

The launch of Band Oracle on Celo L2 is a testament to the strong collaboration between both projects. We’re committed to enhancing oracle efficiency with the upcoming Band Oracle v3 upgrade and expanding our ecosystem support to help drive Celo’s vision of an accessible, mobile-first ecosystem.

We look forward to seeing the next wave of innovation powered by Band’s decentralized oracles on Celo L2!

About Celo

Celo is an Ethereum Layer-2 and mobile-first blockchain network built for the real world and designed for fast, low-cost payments worldwide. The Celo ecosystem consists of a decentralized, proof-of-stake blockchain technology stack (the Celo Platform), the CELO native token, USDC, and USDT (both enabled as gas currencies), several Mento stable assets (cUSD, cEUR, cREAL, eXOF), and popular, blue chip infrastructure including Uniswap, Curve, Chainlink, Aave, and Rarible, among others. Launched on Earth Day in 2020, the open-source Celo mainnet supports a rich ecosystem of projects (1,000+) contributing to Celo’s global mission of prosperity for all. For more about Celo, visit 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.

Learn more about Band Protocol: https://linktr.ee/bandprotocol

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