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Enhancing Nibiru’s Apps Ecosystem with Band Protocol: Real-Time Data Oracle for Web3

A data Oracle is a critical foundation for every ecosystem, especially for DeFi’s playground platform like Nibiru testnet. Today, we are delighted to share a strategic integration of Band Price Oracle into Nibiru, one of the leading Layer 1 DeFi platforms driving mainstream adoption of Web3.

Enhancing Nibiru’s Apps Ecosystem with Band Protocol: Real-Time Data Oracle for Web3
Enhancing Nibiru’s Apps Ecosystem with Band Protocol: Real-Time Data Oracle for Web3

TL;DR

  • Band Protocol is now live on the Nibiru testnet, accelerating Web3’s mainstream adoption.
  • Shared Vision: Nibiru and Band Protocol aim to advance the Web3 ecosystem by providing essential infrastructure for developers.
  • Key Benefits for developers: access to Band Price Feeds of BNB, BTC, DOGE, ETH, SOL, SUI, TRX, USDC, USDT, and XRP, secure data from decentralized aggregation, seamless integration from IBC and EVM compatibility
  • How it works: Band Protocol integrates with Nibiru by aggregating and verifying price data from external sources via BandChain, relaying it securely to reference contracts on Nibiru.
  • Use Cases: Band Price Feeds power Nibiru’s DeFi ecosystem by ensuring accurate data for potential use cases like Sai, NUSD stablecoin stability, and future applications like GameFi, RWA, and DeFi lending.
  • Future Milestones: developer onboarding, 24/7 monitoring, and expansion into BandVRF and real-world data solutions.

Introduction

A data Oracle is a critical foundation for every ecosystem, especially for DeFi’s playground platform like Nibiru testnet. Today, we are delighted to share a strategic integration of Band Price Oracle into Nibiru, one of the leading Layer 1 DeFi platforms driving mainstream adoption of Web3.

Nibiru Chain is a high-performance Layer 1 (L1) blockchain and smart contract ecosystem offering high throughput and robust security. It aims to be a developer-friendly and user-centric platform, driving mainstream Web3 adoption through innovations across various layers, including decentralized application (dApp) development, infrastructure, and consensus mechanisms.

Band Protocol Unlocks Decentralized and Real-Time Price Data on Nibiru with Shared Visions

Band Protocol and Nibiru Chain share a vision of advancing the Web3 ecosystem by providing developers with the essential infrastructure. While Band Protocol specializes in delivering decentralized and secure data oracles, Nibiru Chain focuses on building a scalable and thriving blockchain platform for DeFi, GameFi, and RWA applications. This integration bridges the strengths of both projects, unlocking new possibilities for developers on Nibiru.

Key Benefits of Band Price Feeds on Nibiru Testnet

  • Access to Real-Time Price Feeds Developers on Nibiru can now utilize real-time price feeds for key assets such as BNB, BTC, DOGE, ETH, SOL, SUI, TRX, USDC, USDT, and XRP. These price feeds are aggregated from multiple sources and secured by BandChain's decentralized network of validators, ensuring tamper-resistant and manipulation-proof data.
  • Secure & Decentralized Data Aggregation Hundreds of validators operating under BandChain’s consensus mechanism maintain Band Protocol's price feeds. This ensures trustless, reliable, and verifiable data, operating 24/7 without single points of failure.
  • Seamless IBC and EVM Compatibility Since both Band Protocol and Nibiru Chain are EVM and IBC-compatible, the integration is frictionless and efficient. This enhances interoperability, ensures reliability, and empowers developers with greater flexibility and confidence.
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By leveraging Band Protocol’s decentralized oracles on the testnet, Nibiru developers gain access to robust, real-time, and cost-effective price feeds, providing a prominent platform for developers to build on.

High-Level Technical Overview: How Band Protocol Works on Nibiru Testnet

The integration of Band Price Feeds is deeply rooted in the interaction between BandChain and  Nibiru Chain. The following diagram breaks down how this integration functions to better illustrate the technical workflow.

  1. Requests Data: Band Oracle aggregates data from external sources such as CoinMarketCap, CoinGecko, and Binance.
  2. Aggregates Data: Using BandChain’s consensus mechanisms, the data is processed and verified to ensure its accuracy before relaying.
  3. Relays Data: The verified data is securely transmitted to the Band’s reference contracts on Nibiru, maintaining its integrity.
  4. Reads Symbol: Nibiru developers can request real-time price data directly from these contracts, like BTC/USD or NIBI/USD.
  5. Sends Price Data: The requested data is returned to the dApp, enabling real-time functionality such as automated trading or price updates.
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By understanding this architecture, developers can see how the integration achieves the benefits outlined above.

Potential Use Cases for Band Price Feeds on Nibiru

The integration strengthens Nibiru’s DeFi ecosystem, ensuring reliable market data for key potential applications such as:

Perpetual Trading with Sai

Sai, Nibiru’s decentralized perpetual futures trading platform, requires accurate, real-time price data for margin calculations, funding rate adjustments, and liquidation mechanisms. Since perpetual contracts do not have an expiry date, they rely on reliable external price oracles like Band Protocol to ensure fair settlements and prevent market manipulation.

Stablecoin Price Stability with NUSD

Nibiru’s NUSD stablecoin needs a reliable price feed to maintain its peg. Whether collateral-backed or algorithmic, the system must access real-time market prices of reserve assets for proper valuation. Band Protocol’s decentralized oracles provide these necessary price updates, ensuring NUSD remains stable and trusted in the ecosystem.

Expanding Future Use Cases

As Nibiru expands its ecosystem, Band Oracle can support new applications in GameFi, real-world asset tokenization (RWA), and decentralized lending. Accurate asset pricing is essential for NFT valuations, cross-chain interoperability, and transparent financial instruments.

This integration unlocks endless possibilities for developers building on Nibiru.

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These are the potential use cases that could emerge from this integration. If you're a developer looking to build something impactful on Nibiru, the next section will guide you through the integration process and help you get started.

Start Building with Band Protocol on Nibiru Testnet

Whether you're developing decentralized applications or exploring blockchain innovation, Band Protocol and Nibiru provide the essential infrastructure to support your success.

Key Resources for Developers

Band Protocol

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"]);
    }
}

Example: Query BTC/USD and ETH/BTC Prices in Solidity

Nibiru Chain

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With these resources, you can seamlessly integrate Band’s price feeds into your Nibiru-based applications and build the next generation of decentralized solutions.

Join the Movement: Build with Confidence on Nibiru

We invite developers and innovators to join our growing community and explore the full potential of blockchain technology with Band Protocol and Nibiru. Whether you're looking to integrate decentralized price feeds, contribute to open-source development, or shape the future of Web3, there are many ways to get involved.

Get Involved with Band Protocol

Collaborate with Nibiru

Conclusion and Future Milestones

With Band Protocol’s integration, Nibiru gains real-time, trustless, and cost-efficient market data for developers on testnet, providing a secure and reliable platform for innovative DeFi and dApp creation.

Looking ahead, we aim to:

  • Onboard more developers to leverage Band’s oracles in this testing environment.
  • Ensure 24/7 monitoring for seamless integration and performance.
  • Add more price symbols supporting the platform's growth and developers’ needs.
  • Expand beyond price feeds to include services like BandVRF and other real-world data solutions.
  • Integrate Band Price Oracle on Mainnet and upgrade to Band Oracle v3

This is just the beginning. Start testing Band’s price feeds on the Nibiru testnet today and be part of the next wave of blockchain innovation. Stay tuned for more updates.

About Nibiru

Nibiru is a breakthrough L1 blockchain and smart contract ecosystem providing superior throughput and unparalleled security. Nibiru aims to be the most developer-friendly and user-friendly smart contract platform in Web3.

More about Nobiru: https://nibiru.fi

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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