Komodo Integrates Band Protocol’s Oracle Technology Into the AtomicDEX
Integrating the Cosmos-based Band Protocol will further expand the AtomicDEX’s cross-chain interoperability features and opens door to trading of new assets
Komodo, creators of the DEX with the widest cross-protocol support, announces the integration of its AtomicDEX with Band Protocol’s scalable oracle technology. Through utilizing Band Protocol’s Cosmos-based technology, users of the AtmocDEX can store and trade crypto backed by a secure price feed that further expands AtomicDEX’s interoperability features and offers a truly decentralized solution.
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Komodo’s AtomicDEX will adopt Band Protocol’s decentralized price feed, ensuring that price data reflects real-time market averages and is always readily available for end-users to detect potential price manipulation and unfavorable slippage rates when executing trades. Additionally, AtomicDEX developers can create custom oracle scripts that securely connect to any external data source or API, including historical data, trading indicators, market data, real-world events, and insurance data. As Band Protocol is built using Cosmos’ interoperability features, Komodo’s AtomicDEX will be able to benefit from Cosmos’ scalable and cross-chain technology.
Kadan Stadelmann, Chief Technology Officer at Komodo, said, “Band Protocol stands out to us because it effectively provides decentralized oracle solutions in a secure, scalable, and chain-agnostic way. We’re excited to bring additional functionality to AtomicDEX and further open the door to the trading of new crypto and real world assets in a frictionless environment. ”
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This partnership will also result in the integration of the following 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.
Kevin Lu, Head of Business Development and Growth at Band Protocol, said, “Komodo’s AtomicDEX has been at the forefront of DEX technology. As one of the early adopters of atomic swap technology, Komodo’s AtomicDEX is unique in the way it can support rapid trading between a multitude of different types of blockchains. We are excited to partner with their industry-leading DEX in order to progress the industry’s ability to achieve operability between different blockchains.”
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