Band Protocol Live on Mainnet!

Secret Network
August 17, 2021

Secret Network has completed the implementation of Band Protocol to bring decentralized and scalable cross-chain oracles to Secret Network – with documentation and the oracle price feed being officially live on mainnet.

Band Protocol supports unrestricted access to 175+ price feeds, empowering the next generation of Secret DeFi dApps and tools by connecting trusted off-chain data from institutional providers, directly to Secret Network. Specifically, there is oracle support for foreign exchange rates (22), commodities (2), and cryptocurrencies (199). With the implementation of Band oracles, Secret Apps built on Secret Network will be empowered to use a wider range of decentralized price sources, creating even better and more powerful use cases with secret contracts.

Band Standard Dataset – Versatile feed secured by Band oracles
The Band Standard Dataset give developers access to more than 175+ cryptocurrencies, commodities, and foreign exchange rates price feeds, all secured by Band’s decentralized oracle.

The utilization of Band Protocol enables secret contracts to have access to data sources outside of the Secret Network protocol. This will be critical for the development of Secret Apps that are focused on data marketplaces, credit scoring, lending, insurance, synthetic assets, derivatives, stablecoins, staking derivatives, and DEXs (such as SecretSwap).  All of this is made possible via Band Protocol’s cross-chain data oracle network on BandChain – a highly secure and scalable blockchain for off-chain sourcing, aggregation and reporting.

The prices retrieved from Band Protocol are the median of the values retrieved by BandChain’s validators from a variety of sources including CoinGecko, CryptoCompare, Binance, CoinMarketcap, HuobiPro, CoinBasePro, Kraken, Bitfinex, Bittrex, BITSTAMP, OKEX, FTX, HitBTC, ItBit, Bithumb, CoinOne. Along with the price data, developers will also have access to the latest timestamps for when the price was last updated. These parameters are intended to act as security parameters to help anyone using the data to verify that the data they are using is what they expect and, perhaps more importantly, actually valid.

“Band Protocol documentation and oracles on Secret Network helped speed up our oracle contract development with the DeFi product we are building. With Band Protocol oracles live, sky is the limit for what can be achieved with DeFi and Secret Network. Stay tuned.” -anonymous

Developer Documentation

Full developer documentation for Band Protocol implementation on Secret Network include the following resources:

  • Secret Contract Band Protocol price retrieval model
  • Price database contract example
  • Message
  • State
  • Struct types
  • Contract logic
  • Mainnet Band Protocol contract address
  • Testnet Band Protocol contract address
Price retrieval model

Testnet contract address: secret1p0jtg47hhwuwgp4cjpc46m7qq6vyjhdsvy2nph

Mainnet contract address: secret1ww2j6ltyk9cykj5h3vcepdrut8sg5rxwt5z3xd

Read the full documentation.

Secret Network Developer Opportunities

Are you interested in using Band Protocol to develop Secret Applications on Secret Network? If so, there are a variety of options available for developers to get directly involved and building!

Secret Network Developer Grants

The Secret Network Grant Program is originally funded with 20M $SCRT- currently worth ~$20,000,000. For simplicity, proposals are split into three categories: Secret Apps, for everything that is directly built on top of Secret Network; Ecosystem, for tools that expand Secret Network and improve general usability; and Network improvements, for major upgrades to the network itself.

Within the Secret Network application layer, Secret DeFi and Secret NFTs (private metadata) hold an exciting amount of use cases that have yet to be developed. Grants have already been rewarded for the development of the NFT reference implementation as well as Secret Fardels, a new kind of decentralized social media leveraging Secret NFTs.

With a list consisting of over 35+ grant ideas, get started with the grant application process today!

Are you a developer looking to develop full-time on Secret Network?

The Secret Foundation Fellow Program (Secret Fellows) is designed to involve more developers full-time in the Secret Network ecosystem. The goal of the program is to bring in talented individuals full-time to the Secret Network ecosystem for 3 months during which developers can work on Secret Network related dApp/ tooling development and receive competitive compensation.

Apply for Secret Fellows here!

For any other questions about the network and how to get started using and developing on Secret Network, join our awesome community on the Secret Chat (Discord) or Secret Forum.

Onwards & Upwards!

To discuss Secret Network and Secret Apps, visit our community channels:

Website | Forum | Twitter | Discord | Telegram