Will These Key Developments Help?

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BAND costs stay steady on the time of writing. Nonetheless, contemplating current growth throughout the Band Protocol ecosystem, there may very well be extra upsides because the venture unveils new options and strikes strategic partnerships.

Horizen Partnership

Just lately, Band Protocol, a platform specializing in cross-chain knowledge oracles, partnered with Horizen, a public blockchain providing a scalable ecosystem for decentralized functions (dapps).

The aim is to supply EON, Horizen’s lately launched EVM-compatible clever contracting platform, with entry to decentralized oracle companies. On this approach, decentralized finance (DeFi), gaming, and non-fungible tokens (NFTs) throughout the EON ecosystem can have real-time pricing info and dependable knowledge through Band Protocol’s middleware options.

EON makes use of Band Protocol’s major Oracle resolution to supply real-time token value feeds throughout a number of blockchain networks. Integrating these two platforms ensures the integrity of EON’s knowledge, which will likely be important in creating the corporate’s DeFi, gaming, and NFT ecosystem.

Band Protocol’s capability to collect and combine real-world knowledge and APIs to clever contracts might assist EON develop into much less reliant on centralized oracles, which introduce factors of failure. This new hyperlink permits programmers to boost and increase the performance of EON clever contracts.

In accordance with Rob Viglione, co-founder, and CEO of Horizon Labs, the connection with Band Protocol is a broad step ahead within the firm’s efforts to supply a protected and scalable atmosphere for DApps.

The dependable oracle companies offered by Band Protocol permit programmers to design revolutionary software program for DeFi, gaming, and NFTs.

Integrating Band Protocol’s oracle resolution, Horizen EON can now present their clever contracts with correct, real-time value knowledge. Because of this collaboration, new potentialities in DeFi, gaming, and NFT functions will emerge, and the entire blockchain ecosystem will develop into extra strong and decentralized.

Band Protocol Planning For SubDAOs

Furthermore, Band Protocol has proposed the implementation of SubDAOs.

In accordance with Shine Sutheeravet, head of operations at Band Protocol, the aim is to deal with challenges in decentralized autonomous organizations (DAOs).

SubDAOs provide options for complexity administration, environment friendly useful resource allocation, specialised experience, flexibility, inclusivity, and scalability.

The proposal suggests reworking the Cosmos Group module into councils to ascertain clear governance constructions.

In the meanwhile, Band Protocol is in search of group suggestions to refine and optimize this governance framework and drive the expansion of the SubDAO ecosystem.

Amid this growth, BAND costs are steady at round $1.39, and more likely to get better after dropping 40% from February 2023 highs.