Komodo, the blockchain industry’s first open composable smart chain platform, has chosen to integrate Band Protocol for scalable price oracles into their flagship product AtomicDEX — a secure wallet and non-custodial decentralized exchange rolled into one. Both teams have been working together to bridge Band Protocol oracles to the Komodo developer ecosystem while kickstarting the initial integration with 10 secure price feeds for AtomicDEX Mobile & Desktop: BAND/USD, BAT/USD, BTC/USD, COMP/USD, DAI/USD, ETH/USD, KNC/USD, LINK/USD, REP/USD, and ZRX/USD.
Komodo is a secure, stable and interoperable blockchain platform allowing projects to create their own blockchains. This means that Komodo supports an infinite number of Smart Chains with each Smart Chain existing independently of other chains with their own network, consensus, and coin. Smart Chains are natively compatible with cross-chain atomic swaps that enable trading between different blockchain protocols. Prior releases of AtomixDEX and Komodo developments relied solely upon a centralized price feed which is vulnerable to price manipulations or dependencies arising from a single point of failure.
“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.”
Kadan Stadelmann, CTO at Komodo
The integration with Band Protocol ensures that the price data displayed on AtomicDEX reliably and closely reflect real-time market values from multiple data aggregators and leading exchanges. This is critical in ensuring that traders are always equipped with a robust benchmark for the fair market values of crypto assets to easily detect slippage rates or deviations and make informed decisions.