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29 September 2023
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Binance Smart Chain and the Band Protocol Improving Truly Scalable DeFi Secure Price Feeds for BNB

The Binance Smart Chain have already completed their integration with BandChain, which is a decentralized oracle network, which permits developers to create customized oracles connecting with an external data source on API.

Binance tweeted:  “#Binance Smart Chain has partnered with @BandProtocol to bring decentralized and customizable oracles to the Binance Smart Chain ecosystem and open a gateway for truly scalable #DeFi applications.”

Thus, developers, enterprises, and several other Binance Smart Chain ecosystem participants will now be able to use the Band Protocol’s oracle to connect to any kind of external data source or API with the Band Protocol’s solution.  The protocol is built to provide for flexibility, modularity, and scalability.

Since the Band Protocol is complete, it is added to the official Binance Chain Documentation which provides for secure price feeds for “BTC/USD, ETH/USD, BNB/USD, BUSD/USD, BAND/USD, XAU/USD, XAG/USD, EUR/USD, CNY/USD, JPY/USD, GBP/USD and KRW/USD.”

In this regard, Sydney Ifergan, the Crypto Expert tweeted:  “The native price feeds from Band Protocol on the Binance Smart Chain will be useful for developers to build custom decentralized oracles on Bandchain and further empowering DApps.”

DeFi is not a small sector anymore.  Defi is finding greater adoption and usage. Binance Smart Chain is set to contribute in a great way for the progression of DeFi.  The good news is that they are offering a fully Ethereum Virtual Machine compatible platform.  Customization of decentralized oracle to suit their specific needs gets lot easier than before.

Lot can be done with the Oracle, ranging from DeFi, Programmable/Conditional Payments, Automated Portfolio Management, Betting Applications, Gaming and VRF applications, and Prediction Markets.

The contracts provides for locking the collateral amount, unlocking the collateral amount, borrowing debt, returning debt, and liquidating.

Binance Coin (BNB) Harvesting Profits from Small Price Moves

Binance Futures are set to launch DOT USDT-Margined Perpetual Contract with nearly 50X leverage.

Binance Charity recently tweeted:  “Dear #Binance family, @BinanceBCF commits $20,000 to Beirut Explosion Relief Efforts. We’re now calling on the world to help! Join us in spreading the word & sharing this initiative! Please RT and donate today.”

Meanwhile scalp traders are focusing on harvesting profits from small price moves.  The goal of these traders does not seem to be making lot of profits with each trade, but rather to make small profits over and over again.  Polkadot is a new thing in the Binance Research Profile.  This is a network for cross-chain communication which connects multiple blockchains in to one network.  The DOT tokens are used for network operations

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