This article was first published on Komodo
AtomicDEX is adopting a decentralized price feed through deep collaboration and partnership with Band Protocol. With the release of AtomicDEX v0.3 on October 29, you can trade and store crypto backed by secure, decentralized price feeds.
Komodo and Band Protocol developers have worked together to establish a close, collaborative relationship. The initial result is the integration of 12 Band Protocol data pairs for AtomicDEX: BTC/USD, ETH/USD, DAI/USD, BAT/USD, KMD/USD, BCH/USD, LTC/USD, ZEC/USD, XZC/USD, RVN/USD, DOGE/USD and DGB/USD.
Prior releases of AtomicDEX relied solely upon a centralized price feed, which is vulnerable to issues such as having a single point of failure or price manipulation attacks. We chose Band Protocol as our first oracle integration as it effectively tackles the oracle problem in a way that is secure, scalable, and chain-agnostic.
Integrating Band Protocol ensures that any price data displayed on AtomicDEX closely reflects the real-time market averages and is always readily available for end-users to detect potential price manipulation and unfavorable slippage rates when executing trades.
Bonding With Band
This integration comes at a crucial time as AtomicDEX nears the stable beta release at the end of Q4. Although there are several oracle solutions out there, choosing Band as the first oracle integration on AtomicDEX was an easy decision. Komodo CTO Kadan ‘ca333’ Stadelmann remarked,
Band Protocol aligns perfectly with Komodo’s vision of an interoperable blockchain universe. Band Protocol provides a secure and scalable chain-agnostic solution for DeFi projects to verify data in an efficient manner. On top of that, we were able to work directly with Band developers on the integration process. The Band Protocol team is very professional, super responsive, and fun to work with.
Built on the Cosmos SDK, Band Protocol is an accessible, cost-effective network for data requests. The project has gained industry-wide ...
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