Band Protocol Integrates with Coti: Enhancing Privacy and Scalability with Reliable Price Oracle

TL;DR

• Band Protocol has integrated with Coti, delivering secure and reliable Oracle solutions for its privacy layer.
• Developers on Coti can now access Band Protocol’s price feeds for major symbols: $BTC, $COTI, $ETH, and $USDC, with support for more data as the ecosystem evolves.
• Band Protocol enables real-time, tamper-proof data for DeFi applications, enhancing functionality and user trust.
• Bancor’s Carbon DeFi is leading the way as the first application to utilize Band Oracle on the COTI network.
• The integration strengthens Band and Coti’s shared vision of a decentralized and scalable financial future.

Introduction

Band Protocol is excited to integrate its robust Oracle with Coti, empowering the ecosystem with secure and reliable data to drive privacy-focused innovation. This integration equips developers with tools to build scalable, data-driven DeFi applications while prioritizing privacy, setting a new standard for Web3 financial solutions.

With Band Protocol’s decentralized oracle infrastructure, Coti strengthens its ability to deliver scalable payments, stablecoins, and innovative DeFi services—all underpinned by its core commitment to privacy.

What is Coti?

Coti is a blockchain platform that enables fast, cost-effective, and scalable transactions while pioneering “The Fastest, Lightest Privacy Layer in Web3.” At the heart of Coti lies its innovative Trustchain Technology, which offers an efficient environment for building privacy-focused payment solutions and decentralized financial applications.

Coti’s ecosystem champions accessibility by simplifying the adoption of blockchain technology in payments and finance, making it easier for businesses and individuals to harness the power of private and secure decentralized finance.

Band Protocol’s Unique Value for Coti

Integrating Band Protocol’s Oracle technology brings unparalleled data reliability and flexibility to Coti’s ecosystem, empowering developers to build powerful applications while maintaining privacy and scalability. Key advantages include:

• Reliable Price Feeds: Access real-time data for essential assets like $BTC, $COTI, $ETH, and $USDC, ensuring precision for DeFi platforms.
• Customizable Data Solutions: Developers can customize price feeds by adjusting frequency and deviation thresholds to meet specific application needs, balancing efficiency and accuracy.
• Decentralized and Secure Infrastructure: Band Protocol sources data from multiple providers, validated through BandChain's decentralized mechanisms, ensuring data integrity and tamper resistance.

This collaboration strengthens Coti’s infrastructure, enhancing its ability to support diverse applications such as automated trading, private stablecoin ecosystems, and privacy-driven DeFi innovations.

Technical Overview: How Band Protocol Operates on Coti

Developers can integrate Band Oracle seamlessly into Coti’s ecosystem. Here’s how it works:

Requests Data: Band Oracle gathers data from trusted external sources like Binance, CoinMarketCap, and CoinGecko.

1. Aggregates Data: The data is validated through BandChain’s decentralized consensus mechanism.
2. Relays Data: Validated data is transmitted to Band’s reference contracts deployed on Coti, ensuring security and reliability.
3. Reads Symbol: Coti dApps can request real-time data such as BTC/USD or ETH/USD directly from these contracts.
4. Sends Price Data: The requested data is returned to the dApp, enabling real-time functionality like automated trading or price updates.

Bancor’s CarbonDeFi: The First Use Case of Band Oracle on COTI

The integration of Band Protocol with the COTI ecosystem marks a significant milestone, with its first use case being implemented on the front end of Carbon DeFi, Bancor's innovative new DEX.

Carbon DeFi empowers users to craft and execute personalized trading strategies by setting customizable buy and sell ranges. Whether for recurring or one-time strategies, the platform provides tools for automating trades to adapt to specific market conditions. This includes dynamic strategies such as recurring buy/sell loops, ensuring users can optimize trades without constant manual input.

To enhance the user experience, the Carbon DeFi interface relies on external APIs to fetch token prices, enriching the platform with real-time market data. Here, Band Oracle plays a crucial role by providing a reliable endpoint for token price information on the COTI chain, ensuring accurate and trustworthy data integration for seamless trading strategies.

Get Started with Band Protocol on Coti!

Are you ready to build on Coti using Band Protocol’s Oracle solutions? Here are the essential tools and resources to kickstart your journey:

Essential Resources for Building on Coti

• Coti Developer Documentation
• Devnet Cotiscan
• Testnet Cotiscan
• Coti Support and Community

Leveraging Band Protocol’s Price Feeds on Coti

• Access the Band Standard Reference Contracts (Solidity): GitHub Repository
• Explore the BandChain Documentation for comprehensive guides.
• Proxy Contract Address on Coti Testnet: 0xb6256dcb23cee06eda2408e73945963606fdddd7

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"]);
    }
}

Be Part of Our Inclusive Community Programs

Join us on an exciting journey as Band Protocol and Coti collaborate to create innovative, privacy-focused, and data-driven Web3 technology. Whether you're a builder or a retail investor, there’s a place for everyone in our growing communities!

Contribute to Band Protocol

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

• Band Jedi Ambassador Program
• Band Grants
• Connect with the Band community on Discord and X

Contribute to Coti

Get involved in building with Coti’s privacy-focused ecosystem:

• COTI Builders Program
• Join the Coti community on Discord and X

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

Looking Ahead

This integration between Band Protocol and Coti sets the stage for a decentralized financial future. As Coti grows, Band Protocol will continue to support its ecosystem with reliable oracles and expand the range of supported price feeds to meet the developers’ growing demands. Together, Band Protocol and Coti are empowering developers to create scalable, secure, and privacy-centric applications, transforming the future of finance.

About Coti

COTI is a privacy-centric Ethereum L2. It is the fastest and lightest confidentiality layer on Ethereum.

Powered by the breakthrough cryptographic protocol Garbled Circuits and secured by Ethereum, COTI offers the most advanced solution for data protection on public blockchains. Paving the way for the next wave of Web3 innovation and adoption, COTI unlocks new use cases, including confidential transactions, machine learning, DeFi, decentralized identification, and more.

More about Band Protocol: https://coti.io

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