HomeCoinsBand Protocol (BAND)NASDEX Partners with Band Protocol to Offer Asian-Equity Synthetic Assets | by...

NASDEX Partners with Band Protocol to Offer Asian-Equity Synthetic Assets | by Catherine | Band Protocol | Oct, 2021

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Catherine
NASDEX Partners with Band Protocol to Offer Asian-Equity Synthetic Assets | by Catherine | Band Protocol | Oct, 2021

Band Protocol has expanded its integration partnership to support NASDEX, a new generation synthetic asset exchange that targets Asian equity markets. NASDEX will be the first to list popular Asian equities on the blockchain. Band Protocol’s high customizability and diverse data sources help secure NASDEX’s tokenization process and bring this product offering to fruition with decentralization in focus.

Diverse Data, Diverse Products

Band Protocol’s oracle infrastructure has allowed end-to-end customization and partners like NASDEX to create custom oracle feeds that meet their strategic needs. In this case, being able to source Asian equity data in a secure, decentralized, and permissionless way through Band Protocol has allowed NASDEX to offer an innovative product — Asian-equity-based assets. This differentiates NASDEX’s product from others in the market and brings unique values to users in DeFi.

With the future onboarding of more data providers through the on-chain revenue feature of Band Protocol, there will be even more diverse data types, and consequently, more new products that will take advantage of the rich data ecosystem on BandChain to launch innovative dApps with various use cases. While using various types of data was already possible in Phase 1, the on-chain revenue feature in Phase 2 accelerate this adoption by directing value to data providers, incentivizing them to interact and offer data types directly to dApps via BandChain’s decentralized infrastructure.

Building on Competitive Edge

The synchronization between on-chain price and the real-world price is extremely crucial in the creation of tokenized assets that NASDEX relies on. However, Band Protocol has not only presented the solution to the tokenization process itself but also provides a platform for products like NASDEX to further expand.

BandChain offers cross-chain services that will make future expansion beyond Polygon easy with its IBC feature on top of its chain-based infrastructure design. Band Protocol’s robustness, low network cost, and high flexibility provide a solid foundation for NASDEX’s application layer.

In the upcoming months, NASDEX will collaborate with Band Protocol to first explore the potential on Polygon network, with plans for multi-chain expansion in the future.



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