Empowering the Next-Gen Blockchain: Band Protocol Fuels Monad High-Performance Ecosystem

TL;DR

• Band Protocol’s integration with Monad testnet delivers secure, real-time, and decentralized oracle solutions ahead of its mainnet launch
• With Band Price Feeds for $WBTC, $ETH, $SOL, $USDC, and $USDT now live on Monad testnet, the blockchain is primed to support next-gen high-performance dApps
• Band enhances key Web3 applications, including DeFi, GameFi, RWA, and prediction markets.
• This integration contributes to the Monad protocol, a mainstream high-performance Layer 1 blockchain, and the Monad community.

Introduction

We are delighted to announce our strategic integration with Monad, an ultra-high-performance Layer 1 blockchain designed for unparalleled transaction throughput and efficiency. As the Monad community gears up for the highly anticipated Monad mainnet launch, Band Protocol steps in as a key infrastructure provider on Monad testnet, delivering secure, real-time, and scalable oracle solutions to power smart contracts across its ecosystem.

With this integration, Band Protocol enhances data flow and accessibility on Monad, unlocking all possibilities for Web3, DeFi, GameFi, and Real World Assets (RWA).

Why Monad? A Next-Gen Blockchain Ready for Impact

Monad is a blockchain that introduces high-throughput execution, low-latency transactions, and EVM compatibility, all while maintaining security and decentralization. By leveraging parallel and speculative execution, it redefines smart contract efficiency. With Band Price Feeds for $WBTC, $ETH, $SOL, $USDC, and $USDT now live on Monad testnet, Monad is ready to power the next generation of high-performance dApps.

Key Features of Monad:

• Unparalleled Throughput: Processes up to 10,000 TPS, ensuring fast and scalable transactions.
• EVM Compatibility: Enables developers to seamlessly migrate Ethereum-based applications to Monad.
• Low Latency & Gas Efficiency: Optimized transaction execution for a smooth user experience.
• Scalability for Complex dApps: Supports high-frequency trading, lending, gaming, and other data-intensive applications.

Band Oracle Integration on Monad: High-Level Technical Overview

To enable Band Price Feeds on Monad, seamless communication is required between BandChain and Monad’s Execution Layer. Thanks to Monad’s EVM-compatibility, we can easily integrate Band Oracle into the ecosystem. The following diagram illustrates the process behind this integration:

1. Data Request: Band Oracle collects price data from multiple external sources, including CoinMarketCap, CoinGecko, and Binance.
2. Data Aggregation: BandChain processes and verifies the data using its consensus mechanisms to ensure accuracy and reliability.
3. Data Transmission: The verified price feeds are securely relayed to Band’s reference contracts on Monad, preserving data integrity.
4. Symbol Retrieval: Developers on Monad can access live price feeds, such as BTC/USD or ETH/USD, directly from these contracts.
5. Price Delivery: The requested price data is returned to dApps, enabling real-time trading, automated pricing, and dynamic contract execution.

How Band Protocol Contributes to Monad’s Growth

With Monad’s mainnet launch on the horizon, the need for reliable, decentralized external data has never been greater. Band Protocol is committed to this vision, actively contributing to the ecosystem by providing:

• Real-Time Data Accuracy: Concurrent Price Streams provide fresh and precise price feeds for DeFi and GameFi applications.
• Optimized Performance: Off-chain aggregation minimizes gas costs while maintaining security and accuracy.
• Decentralization & Security: BandChain’s consensus mechanism secures the data feed, ensuring that every feed is accurate and on time-based on game theory.
• Cross-Chain & Off-Chain Connectivity: Data Tunnels allow seamless access to data from other networks and real-world sources.

Strengthening Monad’s Developer Ecosystem

By integrating Band Oracle, Monad is empowering developers to build confidently with greater access to secure, real-time data. This collaboration contributes to the efficiency and security of new use cases:

• High-Speed DeFi Protocols: Lending platforms, perpetual exchanges, stablecoins, and AMMs operate efficiently during peaks with our accurate price feeds.
• GameFi & NFT Applications: Real-time asset valuations enable fair in-game economies and NFT pricing.
• RWA & Tokenized Assets: Seamless integration of real-world data for commodities, real estate, and financial products.
• Decentralized Prediction Markets: Reliable external data ensures transparency in betting and forecasting dApps.

Preparing for Monad’s Mainnet Launch

Band Protocol’s oracle infrastructure will be deployed in phases, ensuring a seamless experience for Monad developers and users. As Monad approaches its mainnet launch, this integration positions the network as a leading high-performance blockchain with trusted data solutions.

Developers get started now:

• Explore Band Protocol’s Documentation: docs.bandprotocol.com
• Learn More About Monad: https://docs.monad.xyz
• Band Proxy Contract Address on Monad Testnet: 0x0d59403c4139814fc3f76e62a94e4ee62138b1965d95bde7bdf5dcd5cbb2bbb5
• Example of Band Standard Reference Contract: Example: Query BTC/USD and ETH/BTC Prices in Solidity

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"]);
    }
}

Join Our Community.

• Band Community: discord.gg/bandprotocol
• Monad Developer Discord: https://discord.com/invite/monaddev
• Monad Community Discord: https://discord.com/invite/monad

Future Milestones

This is just the beginning. As Monad evolves, Band Protocol will remain a key contributor to the ecosystem, delivering secure, decentralized, and high-performance oracle solutions. With real-time data accuracy, optimized performance, enhanced security, and seamless cross-chain & off-chain connectivity, Band provides the essential infrastructure for developers building the next generation of Web3 applications on Monad.

We eagerly anticipate Monad’s mainnet launch and the expansion of our offerings, including Band VRF and more. Strengthening price feeds, optimization, and monitoring is crucial to enhance the ecosystem’s efficiency and reliability, which we will focus on in the upcoming time.

Through this integration, Band Protocol reinforces its commitment to Monad, enabling developers to build high-speed, data-driven applications that push the boundaries of blockchain innovation.

Together, we are shaping the future of high-performance Web3.

About Monad

Monad is a high-performance Ethereum-compatible L1, offering users the best of both worlds: portability and performance.

From a portability perspective, Monad offers full bytecode compatibility for the Ethereum Virtual Machine (EVM), so that applications built for Ethereum can be ported to Monad without code changes, and full Ethereum RPC compatibility, so that infrastructure like Etherscan or The Graph can be used seamlessly.

From a performance perspective, Monad offers 10,000 tps of throughput, i.e. 1 billion transactions per day, while offering 500ms block frequency and 1 second finality. This allows Monad to support many more users and far more interactive experiences than existing blockchains, while offering far cheaper per-transaction costs.

*More about Monad: https://linktr.ee/monad_xyz*

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