Band Protocol offers a decentralized data oracle that connects smart contracts such as Defi to external data and APIs. The project has raised ~$10.5 MM via private token sales and the Binance Launchpad Sale.
The project uses Delegated Proof-of-Stake (DPoS) on its Cosmos-based blockchain. BandChain provides a decentralized, scalable, and cross-chain oracle solution for any decentralized finance application or smart contract developer.
BandChain allows developers to customize and create a 'data oracle script' that allows smart contracts to connect to external data sources and APIs, and specify aggregation methods and security parameters.
BAND is the native token of BandChain and is used as a medium of exchange for transfer/data request fees as well as staking to ensure accountability and secure data curation from a trusted global pool of validators.