Monero based mostly DeFi ecosystem Haven Protocol has built-in decentralized oracle community Band Protocol’s pricing oracle to safe its decentralized non-public belongings. Band Protocol would be the main value aggregator for Haven Protocol’s artificial belongings, together with xGOLD, xSILV, xEUR, and xCNY, whereas Chainlink as a backup to additional decentralize the community’s non-public belongings.
Large information to share!
Haven has partnered with @BandProtocol to combine their pricing oracle on Haven’s community.
Band will function the first oracle with @chainlink as backup, additional decentralizing Haven’s community of personal belongings.
https://t.co/cl1WPB9dhS$XHV $xUSD pic.twitter.com/3gb5KFdXSC
— Haven Protocol (@HavenXHV) November 5, 2020
In Twitter feed on Thursday, Band Protocol acknowledged that it’s going to present value feeds for all XHV based mostly stablecoins on Haven mainnet after the v0.16 replace. Band additional added that the decentralized value feeds would replace each 30 seconds and be derived from varied genuine information suppliers nominated by Havel Protocol itself.
1/ 🚀 @HavenXHV, main privacy-focused #DeFi protocol based mostly on @Monero, has built-in $BAND value feeds for $XHV-backed stablecoin on Haven’s mainnet after v0.16. This can increase into feeds for personal artificial belongings xGOLD, xSILV, xEUR, and xCNY.https://t.co/MgXQ0p0BLt
— Band Protocol (@BandProtocol) November 5, 2020
Haven Protocol is predicated on the Monero community, one of the decentralized, safe, and privacy-focused crypto networks globally. The protocol permits customers to peg their XHV tokens to numerous fiat currencies, together with the USD, EUR, and CNY, or conventional belongings like Gold and Silver. Commenting on the mixing with Band Protocol, David Bandtock, Mission Lead at Haven Protocol, mentioned that it’s a vital step in direction of decentralizing Haven, a prime precedence of the community’s group and group alike.
Band Protocol is without doubt one of the largest suppliers of decentralized information oracles within the crypto-blockchain business. The protocol aggregates and connects sensible contracts with real-world information and APIs, offering entry to safe off-chain information. Band Protocol Co-Founder & CEO Soravis Srinawakoon mentioned that they’re wanting ahead to supporting a frontrunner in privacy-focused DeFi, who’s engaged on artificial belongings and stablecoins. Additional, the mixing with Haven Protocol propels them to ship decentralized non-public cash to everybody worldwide.