Band Protocol X Stellar Smart Contracts: Pioneering Oracle Integration on Stellar Smart Contracts, Advancing Interoperability For Non-Evm L1

Following Band Protocol's receipt of an award from the Stellar Community Fund in May 2023, we are thrilled to announce a development in our Stellar integration. Band Protocol has successfully deployed its oracle service on the mainnet (also available on testnet) of Soroban (Stellar Smart Contracts), marking a significant step in our journey. The combination of Stellar Smart Contracts with Band Protocol oracle solutions paves the way for the development of decentralized applications on the Stellar network.

Soroban, an underlying engine behind Stellar Smart Contract, broadens the Stellar network's functionalities to operate smart contracts, enabling developers to create decentralized finance and web3 applications on the Stellar network. Stellar Smart Contracts provides an intuitive and straightforward set of tools for developers, allowing for fast project setup and efficient scaling. Its extension to Stellar's strong network ensures that users can enjoy a seamless experience with quick transactions and access to diverse digital assets.

Enhancing the Reliability and Security of Stellar Smart Contracts

Supported by the Stellar Community Fund, Band Protocol's integration brings a significant enhancement to the reliability and security of Stellar Smart Contracts. This integration sets a new era for blockchain application development within the Soroban ecosystem, bolstering the functionality and security of both smart contracts and decentralized applications on the Stellar network. By providing developers with access to real-time price feeds, off-chain data, and other cross-chain information, Band Protocol enables the creation of innovative DeFi and alternative finance solutions on the Stellar network, marking a pivotal step towards a more interconnected and efficient blockchain ecosystem.

Integrate with Band Oracle Price on Soroban Mainnet Today!

Developed from the ground up by Band Protocol’s Core Contribution Team, the oracle integration on the Soroban’s mainnet sets a new precedent for our upcoming integrations as it specifically caters to a non-EVM chain, utilizing smart contracts written in Rust. The robustness and security of our smart contracts have been rigorously audited by Runtime Verification (as part of the award program), with no critical issues detected. Currently available on the mainnet, our price feed is set for an upcoming launch on the mainnet, showcasing an integration approach distinct from those on other chains.

Implementation Guide:

• Find the Smart Contracts implementation in this repository: Band Protocol Smart Contracts for Soroban.
• To learn how to incorporate Band Price Feed data into your contract, refer to this example contract: Example Contract on GitHub.
• Developer Support Channel:
  • Discord: https://discord.gg/eqejaSdbkr
  • Email: dev@bandprotocol.com

A Cornerstone in Stellar Smart Contracts’ Growth

Band Protocol is one of the key infrastructures and a pioneering data oracle for Soroban, playing a vital role in the network's growth. Its deployment within Stellar Smart Contracts is made possible by the Band chain’s interoperability, extending beyond EVM and CosmWasm ecosystems. The integration significantly enriches product offerings on Stellar and optimizes market efficiency, improving the user experience. This enhancement is anticipated to drive broader adoption of dApps on Stellar. Moreover, the decentralized nature of Band oracles supports the vision of facilitating an open, inclusive financial system. This synergy lays the groundwork for a robust and scalable blockchain ecosystem that is well-equipped to cater to the evolving needs of the web3 landscape.

Looking Ahead: The Future of Band Protocol and Stellar Integration

As a leading oracle provider on Stellar, Band Protocol is actively establishing a strong presence in the ecosystem. We focus on continuously expanding and diversifying our product offerings to meet the increasing demands within the Stellar Smart Contracts and beyond the EVM-compatible ecosystem. This strategic approach not only reinforces our role as a pivotal oracle player on Soroban but also aligns with our commitment to evolving alongside the blockchain ecosystem's growth and needs.

About Stellar

The Stellar network is a decentralized, fast, scalable, and uniquely sustainable blockchain built for financial products and services. It offers builders a protocol optimized for payments, with a design intended to keep fees low and to provide transaction speeds that can scale with increased adoption. Financial institutions and innovators worldwide issue assets and settle payments on the Stellar network, which has processed billions of operations with millions of accounts since the network was first launched. 

For more information, visit stellar.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