Band Protocol is also currently working with Loopring to enhance their current oracle design querying the LRC/ETH rate which only updates once every 168 hours or per 2% price deviation. This feed will be critical in ensuring that DEX owners on Loopring have an appropriate LRC amount at stake that is truly accurate and not susceptible to delayed data across a 168 hour time horizon.
“Working with a leading Ethereum decentralized finance project like Loopring to enhance their existing oracle design and user security using Band Protocol oracles will lead the way towards a more secure and safer environment for DeFi users. Together with Loopring, Band Protocol looks forward to creating a healthier and more robust application space for existing DeFi users and more to come.”
Soravis Srinawakoon, Co-Founder & CEO of Band Protocol.
With Band Protocol’s price feeds integrated, Loopring users can obtain the most real-time and accurate market rates that safeguard against malicious parties and market manipulators.
To allow our communities to connect and understand this partnership further, we are excited to share that the Loopring team will be participating in an AMA with the Band Protocol team!
📅 Date: 3rd of September 20:00 GMT+7 (BKK time)
⛳️ Venue: http://t.me/bandprotocol
Make sure you tune in to be able to ask any questions regarding this new and ongoing strategic partnership!
Band Protocol and Loopring will continue to collaborate in the long-term and showcase more details on the next batch of fiat price feeds that will be integrated into Loopring DEX shortly. Together, both teams are working to secure the decentralized finance industry through highly reliable oracles that bring scalability and transparency into real-world products.