Band Protocol Bolsters Partnership with Coreum, Unlocks Real-World Asset Access

Band Protocol has integrated with Coreum, unlocking institutional adoption of RWAs and enhanced business potential. As a cross-chain oracle platform, Band Protocol facilitates smart contract interaction with real-world data through its BandChain, utilizing DPoS and BAND tokens for security and governance.

Band Protocol Fortifies Strategic Partnership with Coreum, Expanding Real-World Assets Access

[Press Release]

Band Protocol, a pioneering cross-chain oracle platform, has forged a strategic alliance with Coreum, a cutting-edge blockchain infrastructure provider. This integration marks a significant milestone, unlocking the potential of Coreum's Real-World Assets (RWAs) and fostering institutional adoption within the blockchain ecosystem.

The integration with Coreum will empower Band Protocol's oracle network, enabling it to connect smart contracts to real-world data sources in a secure and decentralized manner. This will provide a crucial bridge between traditional financial institutions and the burgeoning decentralized finance (DeFi) sector.

Coreum's RWAs represent a vast pool of untapped potential, encompassing a wide range of assets such as real estate, commodities, and financial instruments. By seamlessly integrating these assets into DeFi applications, institutions can access new investment opportunities and diversify their portfolios.

Furthermore, the partnership will facilitate the creation of innovative financial products that combine the stability of RWAs with the flexibility and efficiency of smart contracts. This convergence is expected to propel the adoption of blockchain technology within the institutional investment landscape.

Band Protocol: Bridging the Gap Between Real-World Data and DeFi

Band Protocol is a leading cross-chain oracle platform that acts as a bridge between the real-world and the decentralized digital realm of blockchains. The protocol serves as an intermediary, allowing smart contracts to interact with off-chain data in a secure and reliable manner.

The backbone of Band Protocol is its dedicated blockchain, BandChain, which is powered by the Cosmos SDK. Developers can leverage this blockchain to create customized oracle scripts that retrieve specific real-world data and make it available to DApps and smart contracts. These scripts meticulously define the required data, its source, the required number of data validators, and the methodology for data aggregation.

Robust Tokenomics and Staking Mechanism

BAND, the native token of the Band Protocol, serves as a cornerstone for the network's security and governance. It employs a Delegated Proof-of-Stake (DPoS) consensus mechanism, where token holders can participate as validators or delegators.

Validators stake BAND tokens to ensure the integrity of data, while delegators can earn rewards by delegating their tokens to validators. Staking or delegating BAND tokens entitles holders to staking rewards and a share of the data request fees. Additionally, BAND tokens play a pivotal role in the governance of the protocol, granting holders a voice in the protocol's development and decision-making processes.

Conclusion

The strategic partnership between Band Protocol and Coreum marks a significant step forward in bridging the gap between traditional finance and DeFi. By integrating Coreum's RWAs and Band Protocol's oracle network, the alliance unlocks new possibilities for institutional adoption and innovation within the blockchain ecosystem. This collaboration is poised to drive the transformative growth of both platforms and the broader DeFi landscape.