Band Protocol announced on Jun 02 that it has integrated with Celo blockchain to provide decentralized data oracles and to boost DeFi related activities on Celo Camp – an eight weeks virtual boot-camp and accelerator for open finance startups. It will also act as a mentor to those DeFi start-ups, along with the likes of a16z, Polychain, Winklevoss Capital, C Labs and others.
1/ 🚀 $BAND has integrated with @CeloOrg & will partner up as the oracle technology partner for all startups participating in the Celo Camp accelerator and join as an official mentor alongside @a16z, @Polychaincap, @Winklevosscap and more!https://t.co/NpJ8cjnOh6— Band Protocol (@BandProtocol) June 2, 2020
The expertise provided by the Band Protocol to the Celo Camp DeFi start-ups would include customizable, fine tuned, reliable, flexible and decentralized data oracles to connect their smart contracts to external data. They can also take advantage of the built-in oracle scripts for crypto price and volume, random number generation, flight and weather data etc. This is also a great opportunity for Band Protocol to test and further develop its products in the real world. The team will provide support for these new projects in all areas of interest.
“The Celo Camp team is proud to have Band Protocol, a decentralized cross-chain oracle solution, as the oracle for all competing startups to connect their applications with reliable external data and APIs. While there are multiple oracle solutions on the market, Band Protocol’s solution is the perfect fit for any financial DApp as developers retain end-to-end flexibility to specify data sources and aggregation methods while also being able to source data securely in real-time and on-demand.”
Alon Shavit, Co-Founder & Program Director of Celo Camp
“Band Protocol is extremely excited to be onboarded to Celo Camp as the go-to oracle solution for projects building towards a decentralized open financial system. This will allow Band Protocol to achieve three major goals, contribute to Celo’s financial inclusion mission, support real decentralized applications that have a need for a reliable oracle solution, and generate real usage and traction of the BandChain oracle network. We look forward to collaborating closely with the Celo and Upright team to drive innovation in decentralized finance! This will be a huge opportunity for Band Protocol to further test and refine our oracle solution while working closely with real working products that leverage BandChain’s oracle technology. We are excited to help all startups using Band Protocol by continuously providing multi-faceted support when it comes to protocol security & design, usability, fundraising and mentorship — even after the camp wraps up. We strongly believe in Celo’s mission to build an open financial system for anyone and are extremely excited work closely with their team to forward their mission.
Paul Nattapatsiri, CPO & Co-Founder of Band Protocol
About Celo Blockchain
Celo is a layer 1 EVM (Ethereum Virtual Machine) compatible Proof of Stake (POS) based permissionless blockchain, with a specific focus on cross chain Decentralized Finance (DeFi). It aims to bring open finance to bankless people and to anyone with a smartphone.
About Band Protocol
Band Protocol is a cross-chain (multiple blockchain compatible) decentralized data oracle project that provides and manages real world / event data to smart contracts. It enables the provision of secure and reliable feeds, which are tamper resistant and don’t have a single point of failure. The project is backed by leading organizations such as venture capital firm Sequoia Capital and the cryptocurrency exchange Binance.