Yieldwatch partners with Band Protocol for decentralized price oracles
Yieldwatch is officially partnering with Band Protocol to integrate decentralized price feeds for all our fiat currencies as a first collaboration step!
With well over 80,000 daily average users (DAU), yieldwatch is the go-to Dashboard for yield farmers & lenders on Binance Smart Chain offering a wide array of PRO features for example detailed Liquidity Pool & Impermanent loss stats for serious farmers that benefit from having an edge on the market as well as the option to choose between 16 different fiat currencies!
Since the beginning, we made it our mission to collaborate with as many decentralized protocols as possible to further empower an open financial ecosystem especially with our devotion to Binance Smart Chain. Having this said we’re super excited to announce the full integration of decentralized price oracles from Band Protocol powering our global base of fiat currencies! Bandchain is the most trusted & biggest oracle solution on Binance Smart Chain used by various projects securing more than $8B in smart contracts.
Usage of Band price feeds
Within our Dashboard we’re making use of decentralized Band price feeds for the following fiat currencies:
‘EUR’, ‘THB’, ‘CHF’, ‘GBP’, ‘RMB’, ‘JPY’, ‘AUD’, ‘RUB’, ‘BRL’, ‘SGD’, ‘HKD’, ‘KRW’, ‘CAD’, ‘IDR’, ‘TRY’, ‘TWD’
Expect to see more fiat currencies being implemented using Band oracles! We are also exploring options to utilize Band Protocol price feeds for various crypto assets and will further update the community on progress!
Why Band Protocol?
Yieldwatch is using Band Protocol decentralized oracles to maintain strong decentralization across our entire Dashboard and upcoming products to support DeFi! Through reliable and timely reporting of various fiat currency prices on Binance Smart Chain achieved through Band Protocol, we ensure a high decentralization combined with a fantastic user experience.
Due to Bands high-frequency price feeds, yieldwatch users always see frequently updated & accurate prices for their native currencies. We do require high-frequency price updates since there are always lots of requests in a short period of time which is unable to be achieved with other oracle solutions at the moment. After extensive diligence to choose our partner oracle solution for yieldwatch in its current form and future iterations — we came to the unanimous conclusion that only Band Protocol was able to satisfy our flexibility required, security standards & high expectations.
Band Protocol oracle computation is offloaded to a highly scalable blockchain based on the Cosmos-SDK, BandChain, which means that even at high traffic times and lots of requests, yieldwatch can be assured that over 72 active validators nodes report correct and accurate prices back so that our users are never in the dark and always on the ready.
A message from Kevin, Head of BD & Growth at Band Protocol
“Yieldwatch is building one of the most important tools for DeFi users and yield farmers alike. Band Protocol is proud to support Yieldwatch at such a critical growth stage for the platform and industry overall.”
Thank you to the Band Team, especially Sawit & Kevin for the insightful discussions & support! We’re happy about this partnership and look forward to more collaborations!
About Band Protocol
Band Protocol is a cross-chain data oracle platform that aggregates and connects real-world data and APIs to smart contracts. Band Protocol enables 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. Band Protocol is backed by a strong network of stakeholders including Sequoia Capital, one of the top venture capital firms in the world, and the leading cryptocurrency exchange, Binance.
yieldwatch.net is a smart DeFi dashboard that lets you monitor your liquidity pools, yield farming, and token staking performance with a casual and sleek UI, that is optimized for mobile use.
With yieldwatch.net you get all the relevant information at one glance. No more browsing different websites and using complicated IL-loss calculators. We are the first on Binance Smart Chain that shows you the deposit, pending yield, fees generated and gives you an overview of the potential impermanent loss that you are facing.