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Band Protocol Integrates with Soneium Minato Testnet: Powering Web3 dApps with Secure Data Oracle

Band Protocol is excited to announce its integration with Soneium’s Minato Testnet, an Ethereum Layer 2 platform developed by Sony Block Solutions Labs.

Band Protocol Integrates with Soneium Minato Testnet: Powering Web3 dApps with Secure Data Oracle
Band Protocol Integrates with Soneium Minato Testnet: Powering Web3 dApps with Secure Data Oracle

TL;DR

  • Band Protocol has integrated with Soneium’s Minato Testnet, an Ethereum Layer 2 platform developed by Sony Block Solutions Labs.
  • Developers can now seamlessly integrate price feeds for major symbols like BTC, ETH, USDT, and USDC on Soneium Minato, with Band Oracle ready to support additional symbols as demand grows.
  • Band Price Oracle is deployed on Soneium Minato Testnet, enabling developers to easily incorporate secure, reliable price data and cross-chain information from multiple external sources.
  • Band’s and Soneium’s community and builder programs like Band Jedi Ambassador, Band Grants, and Soneium Spark are now live.
  • Future plans include expanding dApp support and using Band Oracle to secure real-world intellectual property on-chain.

Introduction

Band Protocol is excited to announce its integration with Soneium’s Minato Testnet, an Ethereum Layer 2 platform developed by Sony Block Solutions Labs. This collaboration brings Band Oracle’s powerful capabilities to Soneium’s developer ecosystem, enabling the seamless incorporation of price data into decentralized applications (dApps) across gaming, DeFi, and NFTs.

By combining Band Protocol’s robust data infrastructure with Soneium’s scalable blockchain technology, this integration not only enhances Soneium’s developer capabilities but also paves the way for more reliable, secure, and scalable decentralized applications—facilitating the transition from Web2 to Web3.

What is Soneium Minato Testnet?

Soneium is an Ethereum Layer 2 blockchain designed to make Web3 technologies mainstream by providing a high-performance, developer-friendly environment. Built on Optimism’s OP Stack, Soneium enables fast, low-cost transactions while maintaining Ethereum's high-security standards. The Minato Testnet is the sandbox for developers, allowing them to build, test, and deploy applications, especially in creator-focused domains like NFTs, gaming, and entertainment.

Band Protocol’s Unique Value for Soneium Minato Testnet

With the integration of Band Protocol, Soneium’s Minato Testnet developers now have access to the Band Standard Dataset, offering real-time, reliable off-chain data for smart contracts. This includes support for key price symbols like BTC, ETH, USDC, and USDT, with high customizability on frequency and deviation. This empowers Soneium developers to leverage accurate market data for diverse decentralized applications, particularly in DeFi Platforms.

Band Protocol’s real-time price feeds enhance the functionality of DeFi applications, enabling features such as liquidations and derivatives with accurate data for the supported cryptocurrencies. As the ecosystem evolves, additional price symbols can be integrated to meet the growing needs of developers and users.

Technical Overview: How Band Protocol Integrates with Soneium

For developers working on the Soneium Minato Testnet, it’s essential to understand how Band Protocol integrates with the network. By deploying Band Standard Reference Contracts on Soneium, developers can easily incorporate secure, reliable price data and cross-chain information from multiple external sources, ensuring that their dApps operate smoothly and accurately.

How Band Oracle operates in the Soneium ecosystem

Here’s how Band Oracle operates in the Soneium ecosystem:

  1. Requests Data: Band Oracle aggregates data from multiple external sources like CoinMarketCap, CoinGecko, and Binance.
  2. Aggregates Data: Data is processed and verified using BandChain’s consensus mechanisms to ensure accuracy before being relayed.
  3. Relays Data: The verified data is securely transmitted to Band’s reference contracts on Soneium, maintaining its integrity.
  4. Reads Symbol: Soneium dApps can request real-time data such as 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 like automated trading or price updates.
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This interactive process ensures that developers on Soneium can build dApps that operate smoothly and efficiently using trusted, real-time data.

Seamless Cross-Chain Data Availability

Band Protocol’s integration with Soneium leverages its multi-chain compatibility to provide secure data across different blockchain networks. As Soneium expands its ecosystem, Band’s flexible Oracle architecture ensures seamless data flows across Soneium and other integrated chains, improving interoperability and expanding the ecosystem’s capabilities.

Key Benefits for Developers

  • Low-Cost, Scalable Infrastructure: Soneium’s Layer 2 architecture significantly reduces transaction fees, while Band Protocol ensures that developers can easily integrate accurate, real-time data into their dApps without compromising on security or speed.
  • Comprehensive Tooling: With the Minato Testnet and Band Protocol’s Oracle, developers gain access to a complete set of tools for building decentralized applications that are secure scalable, and data-driven.
  • Reliable and Secure Oracles: Band Protocol's decentralized data feeds are tamper-proof, boosting the security of applications built on Soneium.
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These benefits enable developers to build highly efficient, scalable, and secure decentralized applications that fulfill the demand of a growing Web3 user base.

Get Started with Band Protocol on Soneium!

Developers eager to begin building on Soneium can explore the extensive resources available to guide their journey. Whether you're experienced or just starting, these tools will assist you in developing and deploying decentralized applications on Soneium's Minato Testnet.

Essential Resources for Building on Soneium:

Leveraging Band Protocol’s Price Feeds on Soneium:

solidity
Copy code
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"]);
    }
}

Solidity Code: Query the price of BTC/USD and ETH/BTC

Join the Communities!

Become a part of the Soneium and Band Protocol communities to stay up to date, collaborate, and receive direct support from our teams. Explore our programs to contribute to the future of Web3, and follow us on social media for the latest updates!

Band Protocol Community Resources:

Soneium Community Resources:

Soneium is actively fostering innovation through its Soneium Spark builder program, aimed at turning groundbreaking ideas into market-ready solutions. If you're interested, check it out and connect with the Soneium team and community:

Looking Ahead

The integration of Band Protocol with Soneium's Minato Testnet marks a pivotal step in advancing Web3, enabling decentralized applications to leverage secure and reliable data across sectors like DeFi, gaming, and digital content. This partnership lays the groundwork for future developments, including the mainnet launch and expanded offerings such as Band VRF.

Looking ahead, we aim to support additional dApps on Soneium and explore ways to secure real-world intellectual property on-chain using Oracle technology. Together, Band Protocol and Soneium are shaping a more decentralized, transparent Web3 ecosystem, providing the infrastructure needed for continued growth.

About Soneium

Learn more about Soneium here:

Soneium
Welcome to Soneium, the cutting-edge blockchain ecosystem. Discover high performance, security, and scalability for DeFi, NFTs, and more. Join us to empower the creator economy and shape the future of blockchain.

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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