TRON Network, one of the largest blockchain-based operating systems in the world, has strategically partnered and completed integration with Band Protocol to bring secure and verified decentralized oracles to power its rapidly growing DeFi and decentralized application space, according to a press release shared with iHodl.
Both teams are solving the blockchain scalability issue and have joined forces to bring high-throughput, customizable and decentralized oracles for all TRON developers as well as various leading dApps in the TRON ecosystem. Additionally, a TRC20 BAND token will be created specifically for TRON DeFi dApps to utilize as a collateral asset, store of value, medium of exchange and more!
As part of the strategic partnership, the TRON Foundation is already working closely with Band Protocol to integrate and secure all TRON applications covering enterprise, government DeFi, betting, games, RNG and more that process millions of dollars in value and cumulatively have hundreds of thousands of users. The first Band Protocol dApp integration is with JUST, leading stablecoin protocol on TRON, to secure over $30M in collateral.
The integration of BandChain’s bridge smart contract means that TRON dApps will have access to pricing information derived from other networks such as Ethereum, Polkadot or BTC. For instance, a TRON betting dApp could be created that enables users to wager on whether BTC will be over or under $15K by the end of September. Or a prediction market could be created based on the outcome of the US presidential election or the total value locked in DeFi by a certain date.
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